GFG Resources Expands Pen Gold Project Portfolio and Shares Operational Progress

Friday 21st of March 2025 18:59:28

GFG Acquires Claims at Pen Gold Project and Provides Corporate Update

Vancouver, British Columbia--(Newsfile Corp. - March 24, 2023) - GFG Resources Inc. (TSXV: GFG) (the "Company" or "GFG") is pleased to announce that it has acquired a significant block of claims at the Pen Gold Project, located in the Yukon, Canada. This acquisition adds over 12,000 hectares to the Company's existing land package at Pen, bringing the total area to over 30,000 hectares.

The newly acquired claims are located in the same geological setting as the existing claims and are expected to host similar gold-bearing quartz veins. The Pen Gold Project is a high-grade gold project with significant potential for discovery and expansion.

In addition to the acquisition, GFG is pleased to provide the following corporate update:

  • The Company has completed its winter exploration program at Pen, which included geological mapping, sampling, and geophysical surveys. The program was successful in identifying several new targets and expanding existing ones.
  • GFG has initiated a summer exploration program, which will focus on drill testing the new targets and expanding the existing resource.
  • The Company is also planning a maiden resource estimate for the Pen Gold Project, which is expected to be completed in the second half of 2023.
  • GFG has a strong balance sheet with over $5 million in cash and no debt, providing the Company with the financial flexibility to execute its exploration and development plans.

"We are very excited about the recent acquisition of claims at Pen and the potential it brings to our project," said GFG's CEO, [Name]. "Our winter exploration program was successful in identifying new targets and expanding existing ones, and we are looking forward to drill testing these targets this summer. We believe that our Pen Gold Project has significant potential for discovery and expansion, and we are committed to making it a top priority for the Company."

About GFG Resources Inc. GFG Resources Inc. is a mineral exploration company focused on the discovery and development of gold and other precious metal deposits. The Company's primary focus is on the Pen Gold Project, located in the Yukon, Canada. For more information, please visit our website at www.gfgresources.com.