QUEBEC CITY, Aug. 17, 2021 (GLOBE NEWSWIRE) — Stelmine Canada (“Stelmine” or the “Company”) is pleased to announce that it has entered into an agreement with MarketSmart Communications Inc., pursuant to which MarketSmart will provide investor relations (“IR”) services to Stelmine for an initial term of 12 months.

Stelmine will pay MarketSmart a fee of $7,000 per month, plus applicable taxes, and MarketSmart will also be granted stock options to purchase 500,000 common shares of Stelmine at a price of 28 cents per share for a term of two years. The options are in accordance with Stelmine’s stock option plan and are vested quarterly over one year. The IR agreement, effective August 16, 2021, and grant of options are subject to the approval of the TSX Venture Exchange.

Isabelle Proulx, Stelmine CEO, commented: “As Stelmine becomes much more active on the ground with emerging new discoveries at our projects in the Caniapiscau district, east of James Bay, we are determined to ramp up our outreach to investors. We’re delighted to be working with MarketSmart which is recognized as a leading Canadian IR firm.”

Adrian Sydenham, President of MarketSmart, stated: "Historical drill results at the Courcy Property and a growing number of surface discoveries over a broad area at Mercator to the northwest have our team excited about this project in terms of its scale and grade potential. This part of northern Quebec has received little exploration attention in the past, and Stelmine has the team capable of making an important new discovery. They’re now rapidly approaching the drilling stage after a three-year systematic approach to exploration that has built an impressive inventory of high-quality targets. We see excellent opportunities in the gold space during this second half of 2021, so we’re very excited to be engaging with Stelmine at a catalyst-rich period for the company.”

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About Stelmine Canada

Stelmine is a junior mining exploration company pioneering a new gold district (Caniapiscau) east of James Bay in the under-explored eastern part of the Opinaca metasedimentary basin where the geological context has similarities to the Eleonore mine. Stelmine has 100% ownership of 1,574 claims or 815 sq. km in this part of northern Quebec, highlighted by the Courcy and Mercator Projects.

FORWARD LOOKING INFORMATION

Certain information in this press release may contain forward-looking statements, such as statements regarding the expected closing of and the anticipated use of the proceeds from the Offering, acquisition and expansion plans, availability of quality acquisition opportunities, and growth of the Company. This information is based on current expectations and assumptions (including assumptions in connection with obtaining all necessary approvals for the Offering and general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Risks that could cause results to differ from those stated in the forward-looking statements in this release include those relating to the ability to complete the Offering on the terms described above. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company’s filings with the Canadian securities regulators. The filings are available at www.sedar.com.

CAUTIONARY STATEMENT

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

For further information, contact:

Isabelle Proulx, President and CEO
Email: iproulx@stelmine.com
Tel: 418-626-6333

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