New Dimension to change name to Capella Nov. 11

2020-11-06 07:59 MT - News Release

Mr. Eric Roth reports

NEW DIMENSION ANNOUNCES NAME CHANGE TO CAPELLA MINERALS

After having received regulatory acceptance, the following corporate changes will take effect at market open on Tuesday, Nov. 10, 2020, for New Dimension Resources Ltd.

Change of Name and New Trading Symbol: The Company will change its name to Capella Minerals Limited and will commence trading under its new name and stock trading symbol TSX.V-CMIL.

The Company has no plans to change its current share structure, however, the Company's new CUSIP will be 13960M102 and ISIN CA13960M1023. The Company's new website will also be available at www.capellaminerals.com

The Capella Minerals name reflects the next stage of the Company's growth strategy with a focus on the discovery of high-grade gold and base metals deposits in Canada and Scandinavia. The Company's active exploration portfolio includes three high-grade gold projects - the Domain and Savant Lake Joint Venture's in Canada, plus the recent Southern Gold Line acquisition in Sweden - and two high-grade copper assets - Lokken and Kjoli - located in past-producing mining districts in Norway.

Eric Roth, New Dimension's President and CEO, commented today: "Given the Company's renewed focus on precious and base metals projects located in the Northern Hemisphere, the selection of the name Capella Minerals going forward is most appropriate. I am particularly excited by the potential for near-term discovery at both our Lokken and Kjoli projects, given the existence of numerous untested targets (including "walk-up" drill targets) along strike from previous mining operations. In addition, the Company holds direct interests in three high-grade gold projects - the Yamana Gold JV at Domain (Manitoba), the Ethos Gold JV at Savant Lake (Ontario), and our 100% interest in the Southern Gold Line project (Sweden) - all with significant upside potential.

These exciting new brownfields projects and existing gold projects complement the Company's invigorated growth strategy of positioning itself for the current buoyant gold market as well as the potential uplift in future economic demand for attractive base metals, especially copper which is critical to the clean energy sector. I look forward to keeping the market informed as we move projects towards drilling and discovery."

Incentive Stock Option Grant

The Company also reports that the Board of Directors has granted an aggregate 4,980,000 incentive stock options to directors, officers, employees and key consultants to the Company. The stock options are exercisable at a price of $0.12 per share and will have a term of 3 years, expiring on November 4, 2023. Each stock option will allow the holder to purchase one common share of the Company. All stock options granted are subject to staged vesting periods.

Qualified Persons and Disclosure Statement

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101, and approved by Eric Roth, the Company's President & CEO, a director and a Qualified Person under NI 43-101. Mr. Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM), and is a Fellow of the Society of Economic Geologists (SEG). Mr. Roth has over 25 years of experience in international minerals exploration and mining project evaluation.

About New Dimension Resources Ltd

New Dimension is engaged in the acquisition, exploration, and development of quality mineral resource properties in favourable jurisdictions with a focus on high-grade gold and base metal deposits. The Company's precious metals focus is on the discovery through exploration of high-grade gold deposits on its recently optioned Southern Gold Line Project (Sweden), as well as on its active Joint Ventures with Ethos Gold Corp. at Savant Lake (Ontario) and Yamana Gold Inc. at Domain (Manitoba), and the divestiture of Sierra Blanca (Argentina) to Austral Gold Ltd. The Company's base metals focus is on the discovery of high-grade copper-rich VMS deposits on the district-scale land positions around the past-producing Lokken and Kjoli mines in central Norway. Field activities are underway on all projects, with the primary focus being to advance priority targets to drilling.