News

Vancouver, British Columbia, February 27, 2025 – Huntsman Exploration Inc. (TSXV: HMAN) (the “Company” or “Huntsman”) is pleased to announce that it has entered into an agreement (the “Purchase Agreement”) to acquire three mineral claims totaling 10,025 ha within the south-central part of the Rottenstone Domain of Saskatchewan, approximately 80 km due north of La Ronge, Saskatchewan, and known as the Lux Lake Property (the “Property”).

The Property is contiguous to the south-southwest of RAMP Metals Rottenstone SW property (Fig. 1), where exploration resulted in a grassroots discovery hole at the Ranger-01 prospect, which included 73.55 g/t Au over 7.5 m from 227 to 234.5 m depth (see news release dated June 17, 2024, titled: “Ramp Metals Announces New High-Grade Gold Discovery of 73.55 g/t Au over  7.5m at its Rottenstone SW Project”).

Figure 1 Lux Lake Property, Saskatchewan

The Company cautions that past results or discoveries on adjacent properties may not necessarily be indicative to the presence of mineralization on the Property.

The claims are situated along a major NE-SW structural corridor (Fig. 2) within the south-central parts of the Rottenstone Domain, Saskatchewan.  Geologically the belt is dominated by northeast striking, metamorphic assemblages that range from upper amphibolite to granulite facies metamorphic grade.  The belt incorporates both supracrustal and granitic rocks, and their metamorphic equivalents. 

The northeastern part of the Rottenstone Domain encompasses the past producing Rottenstone Mine, which produced 26,057 tonnes at an average grade of 3.28% Ni, 1.83% Cu and 9.63 g/t PGE’s + Au (Sask. Min. Dep. Index, Report #0958).  Several base metal and gold showings are known throughout the belt.

Figure 2 Vertical Derivative Magnetics, Lux Lake Property, Saskatchewan

Originally considered to have low prospectivity for gold mineralization due to the high-grade metamorphic grade of the Rottenstone Domain, the recent discovery of gold by RAMP Metals at their Rottenstone SW property have highlighted an exciting exploration opportunity. 

At Lux Lake, there is no recorded mineral exploration specifically targeting gold and/or silver.  Government lake and till sediment geochemistry throughout the region highlight a number of highly anomalous samples within the claims, including (Fig 3): 43 and 52 ppm gold within till samples.

Figure 3 Regional geochemistry, lake and till samples, Lux Lake Property, Saskatchewan.

Carl Ginn, CEO of Huntsman states, “We are excited to have the opportunity to participate in a new, emerging gold and base metal district.  These optioned claims are contiguous and geologically on trend with the most recent discovery by RAMP Metals.  We look forward to applying our experience towards an aggressive exploration program this summer.”

Pursuant to the terms of the Purchase Agreement, the Company will acquire the Property by paying the vendor $40,000 on TSX Venture Exchange acceptance of the transaction and an additional $40,000 within 12 months and issuing to the vendor 3,500,000 common share purchase warrants.  Each warrant will be exercisable into one common share of the Company at a price of $0.07 per share for five years from the date of issue. 

The Property will be subject to a 2% gross overriding royalty in favour of the vendor.

The above transaction is subject to the acceptance of the TSX Venture Exchange.

Qualified Person:

Technical information in this news release, on the Lux Lake Property, has been reviewed and approved by Carl Ginn, P.Geo., company President and CEO and, who is a Qualified Person as identified by Canadian National Instrument 43-101-Standards of Disclosure for Mineral Projects. Historical Information in this written disclosure as it pertains to the regional geology and surrounding mineral claims has not been verified by the author.

On Behalf of the Board of Huntsman Exploration Inc.

Carl Ginn
President and Chief Executive Officer

For more information, please contact 604-678-5308 or [email protected]

Neither TSX Venture Exchange, the Toronto Stock Exchange nor their 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.

Cautionary Note regarding Forward-Looking Statements

Statements contained in this press release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. The words “anticipate,” “significant,” “expect,” “may,” “will” and similar expressions are intended to be among the statements that identify Forward-Looking Information. Forward-Looking Information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the Forward-Looking Information. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, assumptions that general business and economic conditions will not change in a materially adverse manner; that all requisite approvals will be received, and all requisite information will be available in a timely manner.  Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, risks related to unforeseen delays; general economic, market or business conditions, regulatory changes; timeliness of regulatory approvals, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this Forward-Looking Information. The Company does not assume the obligation to revise or update this Forward-Looking Information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.