DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Brossard, Quebec - TheNewswire - May 11th, 2022 – Windfall Geotek (TSXV:WIN), (OTC:WINKF), (FSE:L7C2) a leader in the use of Artificial Intelligence (AI) with advanced knowledge-extraction techniques since 2005 in the mining sector is pleased to announce a new property option agreement to a private entity for claims in the Marshall Lake West area in Ontario. The claims were acquired as a result of an internal AI target project conducted by Windfall Geotek that identified high probability Copper targets in a key mining camp in Ontario. The option agreement provides the private entity with a 90% earn in over a 4 year period subject to a series of cash payments & spending requirements. Windfall Geotek retains a 2% NSR Royalty and 10% ownership in the mineral claims.
Dinesh Kandanchatha, Chairman of Windfall Geotek commented: “We continue to see interest in our properties from investors looking to deploy capital. Our AI platform is unique as a due diligence tool for prospectors, primary exploration companies and tier 1 mining companies looking to extend mine operations. This is another validation of our technology for the discovery of base metals.”
Figure 1: Marshall Lake West Area - Windfall Geotek Claims in Red
The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Grigor Heba, Ph.D., P.Geo., Principal Geologist and a Qualified Person as defined by National Instrument 43-101.
Grant of Incentive Stock Options
The Company has granted, unders its Share Option Plan, incentive stock options to certain directors, officers, consultants and employees of the Company to purchase an aggregate of 1,655,000 common shares exercisable for a period of up to five years from the date of grant at a price of $0.075 per share. This grant is subject to the acceptance for filing by the TSX Venture Exchange.
About Windfall Geotek – Powered by Artificial Intelligence (AI) since 2005
Windfall is an Artificial Intelligence company that has been in business for over 15 years developing its proprietary CARDS analysis (AI) and data mining techniques. Windfall Geotek can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, and mathematics. It combines available public and private datasets including geophysical, drill hole and surface data. The algorithms designed and employed by Windfall are calculated to highlight areas of interest that have the potential to be geologically similar to other gold deposits and mineralization. The Company's objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining and to continue the Land Mine detection application as a high priority. Windfall has played a part in numerous past discoveries utilizing its methodology as described at: https://windfallgeotek.com/.
For further information, please contact:
President and CTO of Windfall Geotek
Additional information about the Company is available under Windfall Geotek’s profile on SEDAR at www.sedar.com. Neither the TSX Venture Exchange nor does its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and using information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and they are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
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