VANCOUVER, BC, March 31, 2023 /CNW/ - Stuhini Exploration Ltd. ("Stuhini" or the "Company") (TSXV: STU) (OTCPK: STXPF) announces that the Company has renewed its option on the Que Project. The Option Agreement was first announced on February 21, 2020 and amended and restated on October 26, 2020 whereby Stuhini can acquire a 100% interest in the road accessible Que Property (the "Property"), located in the Yukon, Canada approximately 70 kilometres from Johnson's Crossing (the "Option").

The agreement as amended provides for the payment of a total of 112,500 Shares of the Company to Optionors, as defined in the Option Agreement, on the Third Anniversary Date of the approval of the Option by the TSX-V. These shares are the only committed payment over the next 12 months. There are no work commitments. The balance of the share issuances and the cash payments are all at the Company's election should it wish to maintain the Option after April 2, 2024.

Dave O'Brien, Company President and CEO commented: "Given the notable molybdenum price uptick over the past 4 months, we are presently focused on the advancement of our Ruby Creek Molybdenum deposit, but we remain encouraged by the prospectivity of the Que Project and believe this is a notable asset within the Companies Project portfolio."

About Stuhini Exploration Ltd.

Stuhini is a mineral exploration company focused on the exploration and development of precious and base metals properties in western Canada and south-western USA. The Company's portfolio of exploration properties includes: its flagship, the Ruby Creek Property located approximately 14 km east of Atlin, BC; the Que Project located approximately 70 km north of Johnson's Crossing in the Yukon; the South Thompson Project located approximately 35 km northwest of Grand Rapids, Manitoba; the Big Ledge Property located approximately 57 km south of Revelstoke, British Columbia; and its portfolio of properties in south-east Arizona.


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.


For further information:

David O'Brien, President & Chief Executive Officer Stuhini Exploration Ltd.,
Email: dobrien@stuhini.com 
Phone: (604) 835-4019,
Web: www.stuhini.com


Source : https://www.newswire.ca/news-releases/s ... 60993.html

GLTA