Vancouver, British Columbia, November 3, 2017 – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) announces the commencement of drilling on the Company’s optioned Sebe property in Burkina Faso. The Company has contracted Falcon Drilling Burkina Faso, S.A.R.L. to conduct approximately 1000 meters (“m”) of diamond drilling intended to test the strike and dip extension of the veining systems which host the previously announced intercepts of 10.2 grams per tonne gold (“gpt”) over 4.5m, 20.2 gpt over 2.3m, 7.1 gpt over 5.6m, and 2.2 gpt over 18m (see news releases dated September 14, 2017, May 24, 2017 and April 6, 2017).
Investor Relations Agreement
The Company has retained the investor relation services of Kaye Wynn Consulting Inc. (“Kaye Wynn“). Kaye Wynn has been engaged for a period of six months at a rate of $5,000 (plus GST) per month. The agreement may subsequently be renegotiated and/or extended by mutual consent after the initial six month period. The agreement is subject to TSX-V approval.
About the Company
Parallel holds the right to earn a 100% interest in the Sebe Property in the Hounde Greenstone Belt. The Sebe Property is located between the producing gold deposits Hounde and South Hounde operated by Endeavour Mining and Acacia Mining respectively.
Parallel also has an option to earn a 100% interest in the 165.7 square kilometer Garsay exploration permit in a highly prospective greenstone gold belt located in northwest Burkina Faso, 60 kilometers southeast of the producing Inata Gold Mine and Souma deposit.
On Behalf of the Board
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements.