Category: news releases 2020

MONTREAL, June 10, 2020. Tarku Resources Ltd (TSX-V: TKU) (the “Company” or “Tarku”) announces that it intends to issue an aggregate of 1,400,468 common shares in settlement of debts in an aggregate amount of $86,128.73. The debts resulted from exploration services ($75,628.13) and conference services ($10,500) provided by two creditors of Tarku (the "Debt Settlement") from February 2019 to April 2019.

The common shares to be issued pursuant to the exploration services Debt Settlement will be issued at a deemed price of $0.06 per share; The common shares to be issued pursuant to the conference services Debt Settlement will be issued at a deemed price of $0.075 per share and all common shares will be subject to a four-month hold period pursuant to applicable securities legislation and the policies of the TSX Venture Exchange.

About Tarku Resources Ltd. (TSX-V: TKU)

Tarku is an exploration company focused on the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt in Quebec, and which has seen recent exploration successes by Midland Exploration, Balmoral Resources and Probe Metals.

Project generation is the foundation of creation wealth in the mining business. Tarku is interested in generating sustainable projects by conducting exploration in areas with strong geologic potential and high levels of social acceptability within Québec, and projects that can be explored and developed quickly with the support of the community. Tarku has 14,595,113 outstanding shares, of which approximately 80% are owned by insiders and major shareholders. Management is currently reviewing several opportunities and projects to build up the Company portfolio and generate shareholder value.

For more information, please visit the Company’s web site or contact:

Julien Davy
President & CEO
+1 (514) 618-7287
- www.tarkuresources.com

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.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.

MONTREAL, April 24, 2020. Tarku Resources Ltd. (TSX-V: TKU) (the "Company" or "Tarku") announces the signing of agreements concerning the issuance of shares in payment of debts of Tarku owed to two directors and officers. Tarku has received the conditional approval of the TSX Venture Exchange with respect to such insurance and plans, subject to the shareholder approval at the AGM, to issue a total of 2,879,916 common shares, at a price of $0.069 per share.

Tarku plans to issue such common shares in order to conserve its funds. Shares to be issued will be subject to a hold period of four (4) months and one (1) day, and once the transaction is completed, Tarku will have repaid most of its debts to these directors and officers.

AGM

The Company announces changes to its planned Annual and Special Meeting of Shareholders with respect to the COVID 19 pandemic. In complying with government guidelines, the Annual and Special Meeting of Shareholders scheduled to take place on May 15, 2020, has been moved to May 25, 2020 at 11:00 am and will only take place by phone to ensure the health and safety of all participants. The record date of April 9, 2020 remains unchanged and all information will be contained in the meeting materials that will be send to shareholders on April 30, 2020.

Changes to the Board

The Board of Directors of Tarku also announce the resignation of Michael Collins from the Board of Directors. The Board wishes him well in his future endeavours.

About Tarku Resources Ltd. (TSX-V: TKU)

Tarku is an exploration company focused on the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt in Quebec, and which has seen recent exploration successes by Midland Exploration, Balmoral Resources and Probe Metals.

Project generation is the foundation of creation wealth in the mining business. Tarku is interested in generating sustainable projects by conducting exploration in areas with strong geologic potential and high levels of social acceptability within Québec, and projects that can be explored and developed quickly with the support of the community. Tarku has 11,715,197 outstanding shares, of which approximately 70% are owned by insiders and major shareholders. Management is currently reviewing several opportunities and projects to build up the Company portfolio and generate shareholder value.

For more information, please visit the Company’s web site or contact:

Julien Davy, President & CEO

+1 (514) 618-7287

- www.tarkuresources.com

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.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.

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MONTREAL, February 3, 2020. Tarku Resources Ltd. (TSX-V: TKU) (the "Company" or "Tarku") announces a 6.5 to 1 share consolidation and a non-brokered private placement of up to 9,333,334 units (the “Units”) priced, on a post-consolidated basis, at $0.075 per Unit for gross proceeds of up to $700,000 (the “Offering”).

Private placement

The Units will consist of one common share of the Company and one common share purchase warrant (each whole warrant, a “Warrant”). The Warrants are exercisable for a period of 24 months from closing at a post-consolidated exercise price of $0.10. The private placement includes a lead of $300,000 up to a maximum of $500,000 by strategic investor Crest Resources Inc. (“Crest”). As a result, Crest will become one of the largest shareholders of the company. Crest is a publicly traded company that, amongst other activities, invests in mineral exploration companies.

Share Consolidation

The Board of Directors of Tarku believes that further equity financing is required in order for the Company to finance its current working capital requirements and for future business purposes. The Board of Directors believes a share consolidation of common shares of the Company on the basis of 6.5 old shares of Tarku for 1 new share of Tarku will achieve such objectives. The consolidation will be effective on or around February 7, 2020, upon receipt of all the customary regulatory approvals.

Tarku’s shares will continue to trade under the symbol TKU. The new CUSIP number for the consolidated shares is 87618P204 and the new ISIN number is CA87618P2044. As a result of the share consolidation, Tarku will have about 11,715,197 common shares issued and outstanding. The Company’s outstanding warrants will also be adjusted on the same basis (1 new for 6.5 old) as the common shares, with proportionate adjustments being made to exercise prices. In the case of a fully subscribed financing, Tarku will have a total of about 21,048,531 common shares issued and outstanding.

Shareholders who hold their shares through a securities broker or dealer, bank or trust company will not be required to take any measures with respect to the share consolidation. Tarku’s transfer agent, Computershare Investor Services Inc., has mailed a letter of transmittal to all registered shareholders, who will be required to return their certificates representing pre-consolidated common shares and a completed letter of transmittal to Computershare. Any registered shareholder who submits a duly completed letter of transmittal to Computershare along with pre-consolidated share certificates will receive in return a post-consolidated share certificate or Direct Registration Advice (“DRA”).  Additional copies of the letter of transmittal can be obtained by contacting Computershare at 1-800-564-6253 or by e-mail at .

Changes to the Board

The Board of Directors of Tarku also announce the appointment of Michael Collins to the Board of Directors, effective immediately. Concurrent with Mr. Collins appointment, the Board of Directors has accepted the resignation of Mr. Barry Chappell, who has served the Company as a founding board member for over 9 years. The Board wishes to thank Mr. Chappell for his service to the Company and its shareholders and wish him well in his future endeavours.

Michael Collins has worked as an officer and director of public companies since 2004 as well as being employed as a professional geologist and running a mining engineering office for five years. Michael has worked to develop mining and exploration projects around the world, recently identifying and building the model for Prime Mining’s acquisition and $8.5 million financing for the Los Reyes gold project. Mr. Collins has a unique skill set drive by work experience in a range of setting from rural developing to high tech development and application. Michael was also a senior team member on Canadian Royalties Inc. drill program for 2 years in Québec. Michael is Director, President and CEO of Crest Resources Inc and Volatus Capital Corp., Vancouver based companies listed on the Canadian Securities Exchange under the symbol CRES and VC.

Julien Davy, president & CEO of Tarku, stated: "I first would like to personally thank Barry, one of the Founder of the company for its excellent support and contribution over the past 9 years. We would like to extend a warm welcome Mr. Collins to the Tarku Board of Directors. His strong experiences and relationships gained during his career make him a valuable addition to our existing Board. Crest Resources has identified Tarku as a key player in the highly prospective Matagami camp and we appreciate this recognition and support in this period of rising gold and base metals prices and renewed interest in gold and base metals exploration.”

About Tarku Resources Ltd. (TSX-V: TKU)

Tarku is an exploration company focused on the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt in Quebec, and which has seen recent exploration successes by Midland Exploration, Balmoral Resources and Probe Metals.

Project generation is the foundation of creation wealth in the mining business. Tarku is interested in generating sustainable projects by conducting exploration in areas with strong geologic potential and high levels of social acceptability within Québec, and projects that can be explored and developed quickly with the support of the community. Tarku owns, amongst others, 100% over 220 claims (12,033 ha) adjacent and along regional gold-bearing trends with strong similarities with world class Detour Gold Mine with barely drill tested.

For more information, please visit the Company’s web site or contact:

Julien Davy, President & CEO
+1 (514) 618-7287
- www.tarkuresources.com

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.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.