Vancouver, British Columbia, March 07, 2022 (GLOBE NEWSWIRE) — St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (ESF: BVU3) is pleased to offer commentary on recent gold market developments.
In response to changing geopolitical factors and growing inflation concerns, Goldman Sachs asserted that “the recent escalation with Russia creates clear stagflationary risks for the broader economy, driven by rising prices for higher, which reinforces our belief in higher gold prices in the coming months and our price target of $2,150/toz (troy ounce).”
Spot gold traded at a high of just over $2,000 an ounce on Sunday March 6and, 2022 as investors react to intensified Russian military strikes in Ukraine. Goldman Sachs also said that “gold’s unique role as a currency of last resort will likely be apparent if restrictions on Russia’s central bank to access its offshore reserves let it tap into its large gold stocks. to pursue foreign trade, most likely with China”.
With spot gold prices escalating since the start of the year and the current surge of US$2,000 an ounce, interest in the gold market has accelerated. Heightened uncertainty in the war in Ukraine and the potential for an interminable conflict has reaffirmed gold’s historic place as a hedge for investors. Combined with the decline of cryptocurrencies in recent months, gold is well positioned to increase its visibility with investors seeking diversification and safe havens. For the largest cryptocurrency, Bitcoin, its year-to-date performance is negative and down 36.1%+ from its November 8, 2021 peak.
As stated by George Drazenovic, CEO, St. James Gold“The future for gold looks very bright. With our advanced property and flagship Florin Gold project in the Yukon Territory, we are well positioned to take advantage of the improving gold market. We are encouraged that the valuations of junior resource companies will improve as the media raises the spot price of gold is an important driver for junior gold exploration companies seeking funding, and we are particularly eager to take advantage of the general market sentiment with many catalysts to come.
About St. James Gold Corp.
St. James Gold Corp. is a publicly traded company listed on the TSX Venture Exchange under the symbol “LORD”, in the US market listed on the OTCQB under “LRDJF” and on the Frankfurt Stock Exchange under “BVU3”. The Company is focused on creating shareholder value through the discovery and development of economic mineral deposits by acquiring potential exploration projects with well-defined geological theories; integrate all available geological, geochemical and geophysical datasets; and fund effective exploration programs. The Company currently holds: (i) an option to acquire a 100% interest in 29 claims, covering 1,791 acres, in the Gander gold district in north-central Newfoundland, adjacent to the Queensway North project of New Found Gold Corp. ; and (ii) an option to acquire a 100% interest in 28 claims, covering 1,730 acres, in central Newfoundland, adjacent to Marathon Gold’s Valentine Lake property; and (iii) an option to acquire an interest of up to 85% in the Florin Gold Project, covering nearly 22,000 contiguous acres in the historic Tintina Gold Belt in the Yukon.
For more information about the company, please visit: http://stjamesgold.com/
For more information, please contact:
George Drazenovic, General Manager
Phone : 1 (800) 278-2152
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements”). The forward-looking statements contained in this press release relate to, among other things: the completion of the Offer; the timing and size of the offer; the timing and receipt of TSXV approval for the Offering; the intended use of the net proceeds of the Offering and all other statements that are not historical facts, in particular statements that express or imply discussions of expectations, beliefs, plans, objectives, assumptions or future events or performance of the Company. Often, but not always, forward-looking statements can be identified by the use of words or phrases such as “will likely result”, “should”, “expect”, “will continue”, “is expected”, ” plans”, “believes”, “estimates”, “intends”, “plans”, “expects”, “projection”, “strategy”, “goal” and “outlook”. The forward-looking statements contained in this press release are made based on reasonable estimates and assumptions made by the Company’s management at the relevant time in light of its experience and perception of historical trends, current conditions and expected future developments; and other factors. deemed appropriate and reasonable in the circumstances. The forward-looking statements contained in this press release are made as of the date of this press release and the Company will not update these forward-looking statements as a result of new information or if management’s beliefs, estimates, assumptions or opinions change. , except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, which could cause actual results, performance, achievements and events to differ materially from those which are disclosed or implied by such statements. forward-looking statements. These risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors described in the Company’s Annual Information Form dated July 26, 2021 (the “FIA”) filed under the Company’s profile on SEDAR at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in its annual information form on SEDAR is not exhaustive and that other factors could materially affect its results.
New factors emerge from time to time, and it is not possible for the Company to consider them all or to assess the impact of each of these factors or the extent to which any one factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. All forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement.
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