Gold Bull Resources Corp. Closes Acquisition of Big Balds Gold Project in the Carlin Trend, Nevada

VANCOUVER, British Columbia, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Gold Bull Resources Corp. (TSX-V: GBRC) (“Gold Bull” or the “Company”) is pleased to announce it has closed its share exchange agreement with 1252265 B.C. Ltd., a private B.C. company (“Numberco”) and its shareholders, under which the Company has acquired all of the outstanding shares of Numberco and has thereby acquired 100% of the Big Balds Gold project (“Big Balds”) which is located less than 10km west of the Bald Mountain Mine. The Company has issued 10,000,000 shares to the shareholders of Numberco on a pro rata basis to their holdings in Numberco. Further information about Big Balds is included in the Company’s news releases of August 17, 2020 and September 10, 2020. The Company has also filed a NI 43-101 technical report on Big Balds entitled: “NI 43-101 Technical Report, Big Balds Project, White Pine County, Nevada” by Brian T. Brewer, CPG, QP, M.Sc., with an effective date of September 14, 2020.

The Company intends to conduct additional ground geophysics at Big Balds Project imminently. The purpose of the ground geophysics is to define precise drill hole locations.

Chairman Craig Parry commented, “We are very pleased to complete the acquisition of this highly prospective portfolio of properties and to have Cherie Leeden formally appointed as CEO. Having completed our oversubscribed placement of $13.8m last week we are now in excellent position to commence exploration at our Nevada gold projects and we look forward to reporting on this work in the coming weeks and months.” 

As previously disclosed to be effective on closing, the Company has appointed Cherie Leeden as President, Chief Executive Officer and Director of the Company. Vince Sorace has stepped down as President & Chief Executive Officer of the Company, but will remain a Director.

Cherie Leeden is a proven Resources Executive with two decades of experience, including 10 years at public company board level. She has led businesses in senior positions at publicly traded companies as well as developed and built several successful resource focused start-ups. Cherie has experience at negotiating and executing win-win business transactions with a multitude of companies ranging from start-ups to Fortune 500 companies. Cherie is experienced in capital raising, mergers & acquisitions, and complex joint venture negotiations.