February 15, 2017 GREENWOOD, BRITISH COLUMBIA – New Nadina Explorations Limited (the “Company”, TSX VENTURE: NNA) is pleased to report the sale of its wholly owned subsidiary, Kettle River Resources Ltd. to Golden Dawn Minerals Inc. (TSX-V: GOM) has been finalized. (Letter of Intent NR Oct 19, 2016).
Kettle River Resources Ltd. owns a significant block of mineral claims, Crown Granted mineral claims and surface freehold titles in the historical Greenwood Mining District. We are optimistic this package will enhance Golden Dawn’s portfolio of properties to complete the picture for rewarding exploration in the famous historical production district. Having a mill in the district encourages and makes feasible the mining of smaller available deposits. New Nadina has received 2.2 million shares of Golden Dawn.
In addition to the common shares New Nadina has received payments totaling CAD$1,010,000. The properties are subject to a 1% NSR where Golden Dawn can purchase a ½% for $1,000,000 up to five years and thereafter $1,200,000 up to 10 years leaving a ½% NSR payable to New Nadina.
New Nadina has retained all non-Greenwood Area assets and property: DHK Diamonds Inc. interests and the Saskatchewan Quarry.
Immediate focus is the Silver Queen property located 43km south of Houston BC near Owen Lake. High grade silver assays (NR Dec 23, 2015) in veins deep within the Itsit copper, molybdenum, gold porphyry will be further tested in the next program. The size of the 2017 program will depend on funds available through an equity financing. An offering first to the existing shareholders then to accredited investors is being considered.
A Surface Rights Board (SRB) hearing, at the request of the Company, is scheduled for March 6, 2017 to hear arguments of drilling during winter or non-winter. The Company intends to prove to the private property landowner a non-winter program will be less damaging than a winter program. Due to the unpredictable weather at the site, it is not likely possible to conduct a winter program to meet landowner conditions requiring minimal ground impact and on continual snow packed access and frozen ground. The timing of the SRB decision will be adequate to plan for either.
ON BEHALF OF THE BOARD
President and Chief Executive Officer
For further information please visit the website at www.nadina.com
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