Vancouver, British Columbia – January6, 2021 – M. Maurice Giroux, President and CEO of Mosaic
Minerals Corp. (“Mosaic” or the “Company”) (CSE: MOC) is very pleased to announce the strategic
acquisition of the CrisafyGold Property inCrisafy Township, SNRC 32G07 in Northern Quebec area,
more precisely in the Chibougamau area in Quebec.
The Crisafy Property is made up of 22 mineral claims covering 1,235 hectares located in the very
prolific Obatogamauneo archeanvolcanic formation. The formation iscomposed mainly of basalt and
andesitic basalt,and hosts Iamgold’s expanding Nelligan and Monster Lake gold depositsand also
Northern Superior’s recent Lac Surprise discoveries, a few kilometers to the north(see location map).
The Crisafy Properties acquisition expandsupon Mosaic’s original OpawicaGold Projectlocated in the
eastern extension and along strike of the significant gold discoveries at Lac Surprise and Nelligan.
Maurice Giroux CEO declare: “We are very pleased to enlarge Mosaic’s footprintin the area of
Quebec’s most prolific gold discoveries. Being personally,in a certain way, the instigator of this
exploration explosionas CEO of Stellar AfricaGold Inc., when in2011 Stellardiscovered the Monster
Lake gold deposit which waslater sold to Tomagold and in turn optioned byIamgold. Based on my
history Mosaic hasa close and personalknowledge of the potential of this area, and this knowledge
can only be very beneficial to Mosaic.”
The purchase consideration forthe Crisafy Property is $5,000 and the issuance of 300,000 common
shares at the closing of the Purchase Agreement. Two (2) additional payments of $5,000 each will be
made at three months and 12 months after the closing date. The Vendor will retaina 1.5% Net Smelter
Return royalty which may be purchased by Mosaic for the sum of Five Hundred Thousand ($500,000)
dollarsat any time.This transaction is arm’s length.
About Mosaic Minerals Corporation
Mosaic Minerals Corp., founded in 2018,is a Canadian mineral exploration companyfocused
onunlocking the potential of former Stellar AfricaGold Inc. “Stellar”Opawica Gold Project (“Opawica”)
which is located inQuébec’s renowned and very prolific Chibougamau mining district, Nord-duQuébec, within the famous Abitibi Greenstone Belt.
Mosaic is gold-focused concentrating its exploration efforts where the Company’s growth potential is
the strongest.After incorporation Mosaic acquired Stellar’sOpawicaprojectin a 100% share deal.
Mosaic then completed a Plan of Arrangement with Stellar establishinga shareholder baseof more
than 1,000 new Mosaic shareholders. Since the acquisition Mosaic has actively explored
Opawicacompletingits Phase I exploration program at the end of 2019 with results that warrant
advancing witha Phase II program.
The Opawica Gold Project
Opawica is comprised of two claim blocks, the Philibert I and the Opawica North, both located a few
kilometers East and in thegeological and structural strike of the Nelligan Iamgold/Vanstar project.
Surface sampling of the Philbert-I block showing by Laurentia Exploration during the 43-101 Technical
Report field visit confirmed Stellar’s and other historical results returning gold grades of up to 9.24 g/t
Au in some channel sampling of quartz injected structures.The gold mineralization is associated with
millimetric to metric wide quartz-tourmaline veins structure cutting through the Obatogamau rock of
Philibert-I block. These veins are observed across a 50-meter-longrock exposure and strike N1100
.
Quartz veins contain tourmaline and pyrite and lies within an epidote-iron carbonates alteration
envelope and most importantly, the structure is open laterally and vertically.
In December 2018, Mosaic mandated Dynamic Discovery toperform a resistivity and
InducedPolarization (IP) coverageof the Philbert Block to increase the understanding of the
geophysical characteristics of the Philbert-I gold showing. In conclusion, the geophysical response of
the gold mineralization found within the property was better characterised, assistingwith the
selection of priority exploration targets. A total of 200 individual IP anomalies, further grouped as 47
chargeable lineaments, were defined. Among them, 11 axes are considered with higher potential to
relate to mineralized occurrences and constitute high priority drilling targets.
About Mosaic’s Management
Mosaic benefits from a solid board of directors and strong executive management.Its members
havedocumented business histories, successful exploration backgrounds, impressive histories of mine
discoveries in Canada and Africa, and established records of corporate success.
Mosaic President and CEO Maurice Giroux when he was CEO of Stellar AfricaGold Inc. lead the team
that made the Monster Lake – Zone 325high grade gold discovery which became the foundation
project of Tomagold Inc.,and was subsequently optioned by Iamgold Corp.Later on, Iamgold optioned
the Nelligan Project that was awarded “Discovery of the Year” at the Xplor Mining convention in
Montreal in 2019.
Mosaic Executive VP and CFO John Cumming was Executive VP and CFO of West African gold explorer
Merrex Gold Inc. In 2008 Mr. Cumming negotiated Merrex’sexploration Joint Venture with Iamgold
Corporation which in 2014 discovered the Diakha gold deposit in West Mali.In 2016 he led both the
Merrex negotiating team and the transaction legal team that successfully negotiated and concluded
the sale of Merrex to Iamgold Corporation in the $43 million share takeover deal. For additional
information on board of directors and management, seeMosaic’s website at www.mosaicminerals.ca
The technical content of this press release has been reviewed and approved by Éric Allard, an
independent consultant and a Qualified Person as defined in NI 43-101.
On Behalf of the Board
Maurice Giroux BSc
President & CEO
Contact:Maurice Giroux at 1-514-952-5709
[email protected]
