Greenland Government Approves Transfer of Skaergaard Licences to Major Precious Metals

VANCOUVER, British Columbia, Sept. 03, 2020 (GLOBE NEWSWIRE) -- Major Precious Metals Corp. ("Major Precious Metals" or the “Company”) (CSE:SIZE | OTC:SIZYF | FRANKFURT:3EZ) is very pleased to announce that the Greenland Government has approved the transfer of the Skaergaard Exploration Licences (EL 2007/01 and EL 2012/25) to Major Precious Metals. This concludes all due diligence and property specific process and transfer items.

Major Precious Metals is also pleased to report that RPA Inc. will be completing their site visit for the Skaergaard Project starting on September 10, 2020 with September 11 being a backup date in case of weather delays.

The RPA team will also review historical drill core from the Skaergaard Project located at a core storage facility in Reykjavik, Iceland, and amongst other things, complete interval sampling for titanium, vanadium and gallium and other anomalous elements that could potentially contribute positively to the value and economics of the Skaergaard Project as part of an expanded dataset for a Preliminary Economic Assessment.

The full and final closing of the Skaergaard acquisition (“Acquisition”) now remains subject only to the approval of the Canadian Securities Exchange (“CSE” or the “Exchange”) and customary closing items for a transaction of this nature.  

The CSE has concluded that the acquisition constitutes a fundamental change for the Company in accordance with the policies of the Exchange. As a result, the acquisition also requires approval of the shareholders of the Company. The Company intends to obtain such approval by way of written consent of the holders of the majority of the outstanding share capital of the Company. Holders consenting to the acquisition will be asked to confirm that they would vote in favour of the acquisition in the event it was presented for approval at a meeting of the shareholders of the Company.

The Company believes that this should expedite the process of moving forward to focus on its asset base.

Qualified Person Statement

All scientific and technical information contained in this news release was prepared and approved by Paul Ténière, P.Geo., President & CEO of Major Precious Metals Corp, who is a Qualified Person as defined in NI 43-101.

On behalf of the Board of Directors

MAJOR PRECIOUS METALS CORP.

Paul Ténière, M.Sc., P.Geo.
President and Chief Executive Officer
Suite 810 - 789 West Pender Street
Vancouver, BC V6C 1H2
Ph: [phone]

About Major Precious Metals Corp.

Major Precious Metals is a Canadian junior mining and exploration company based in Vancouver, BC that owns a diversified portfolio of exploration properties within some of the most promising precious and base metal deposits worldwide. Major Precious Metals is also engaged in the business of acquiring and exploring precious metal projects near or adjacent to existing mining operations controlled by well-established mining companies.