WOLVERINE MINERALS CORP. -- (the "Company") announces today, that further to its news release of November 29, 2016, the TSX Venture Exchange has approved and the Company has closed the option agreement dated November 28, 2016 (the "Option Agreement") with Almadex Minerals Limited ("Almadex") regarding the Los Venados property in Sonora State, Mexico (the "Property").
Almadex, through its subsidiary, granted an option to the Company to acquire a 100% interest in the Property (the "Option") on the terms and conditions of the Option Agreement. The terms of the Option Agreement are set out in the Company's News Release dated November 29, 2016. The Company has issued 250,000 common shares to Almadex on closing of the Option Agreement which Shares are subject to a four month hold period expiring June 9, 2017.
On January 24, 2017, the Company filed a geological report regarding the Property which can be found under the Company's SEDAR profile at www.sedar.com.
The Los Venados property is immediately adjacent to the producing Mulatos and La India gold mines. Alteration mapping and geochemical sampling indicate that the property covers a possible high-sulphidation epithermal mineralization system similar in nature to that on the adjacent Mulatos and La India Mine projects.
The Los Venados property has signed surface access agreements in place and has received full SEMARNAT (Ministry of Environment and Natural Resources) approval for 12 drill pad locations.
WOLVERINE MINERALS CORP.
Per: "Thomas A. Doyle"
Thomas A. Doyle
President & CEO
For further information, please contact:
Thomas A. Doyle
Phone: (604) 689- 5722
Neither 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.