TORONTO, ON / ACCESSWIRE / May 25, 2020 / Eskay Mining Corp. (“Eskay” or the “Company”) (TSX-V:ESK) (OTC-PINK:ESKYF) (Frankfurt:KN7; WKN:A0YDPM) wishes to announce that, further to its Press Release of May 22, 2020, it plans to increase its flow-through offering by 1,000,000 flow-through units (the “FT Units”) to up to 6,900,000 FT Units of the Company at a price of $0.255 per FT Unit for up to $1,759,500. In addition, an insider of the Company will be subscribing for $417,000 of the 3,000,000 working capital units (“WC Unit”) being offered at a price of $0.17 per WC Unit for up to $510,000 (the “Offering”) to fund its 2020 exploration.

Each FT Unit comprises one (1) common share of the Company and one-half (½) of one (1) common share purchase warrant. Each full warrant (a “Warrant”) entitles the holder to acquire one (1) common share at a price of $0.30 for two (2) years from the closing of the Offering (the “Closing”).

Each WC Unit comprises one (1) common share of the Company and one-half (½) of one (1) common share purchase warrant. Each full warrant (a “WC Warrant”) entitles the holder to acquire one (1) common share at a price of $0.30 for two (2) years from the Closing.

All securities to be issued pursuant to the Offering will be subject to a statutory four month and one day hold period from the Closing and regulatory approval.

The proceeds from the Offering will be used for general working capital and to fund the Company’s 2020 exploration program.

An insider of the Company will subscribe for 2,452,941 WC Units for $417,000 of the Offering. The insider private placement is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 (“MI 61-101”) by virtue of the exemptions contain in section 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company to be issue to the insider does not exceed 25% of its market capitalization.

About Eskay Mining Corp:

Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwestern British Columbia known as the “Golden Triangle”, approximately 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this area comprised of 177 claims (130,000 acres).

All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR at www.sedar.com.

For further information, please contact:
Mac Balkam
President & Chief Executive Officer
T: 416 907 4020
E: Mac@eskaymining.com

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.

Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

SOURCE: Eskay Mining Corp.

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