VANCOUVER, BC, Aug.3, 2021 / PRNewswire / – Barsele Minerals Corp. – (TSXV: BME) (the “Company” or “Barsele“) announces the extension of its letter of intent on May 10, 2021 (the”Letter of Intent“) with Agnico Eagle Mines Limited (“Agnico Eagle“). The letter of intent sets out the basic conditions for the acquisition by the Company of Agnico Eagle’s 55% indirect interest in the Barsele project (the”Proposed operationThe Company currently holds the remaining 45% interest in the Barsele project and, upon completion of the proposed transaction, would consolidate 100% control of the Barsele project.

The Company and Agnico Eagle continue to work towards finalizing definitive agreements with respect to the proposed transaction and have agreed to extend the “deadline” of the letter of intent to August 31, 2021. Additional details regarding the letter of intent and the proposed transaction are provided in the Company’s press release dated May 12, 2021, which is available on the Company’s SEDAR profile at www.sedar.com. The letter of intent is not binding and there can be no assurance that the proposed transaction will be completed as proposed or that it will be completed.

About the Barsele project

The Barsele project is located at the western end of the Proterozoic Skellefte Trend, a belt of prolific volcanogenic massive sulphide deposits, which crosses the Gold Line in northern Sweden. Polymetallic deposits and intrusive hosted orogenic gold deposits are present in this region and on the property. Current and past producers in the region include Boliden, Kristineberg, Bjorkdal, Svartliden and Storliden.

About Barsele Minerals Corp.

Barsele is a junior exploration company based in Canada and managed by the Belcarra group, made up of highly qualified mining professionals. Barsele’s principal property is the Barsele gold project in Västerbottens Län, Sweden, a joint venture with Agnico Eagle. An amended NI 43-101 technical report on the Barsele project with an effective date of February 21, 2019 was filed on SEDAR on December 16, 2020.

In the name of the advice administrators

Gary CopePresident and CEO

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 information under the provisions of applicable Canadian securities legislation. All statements contained in this press release, other than statements of historical fact, are forward-looking information about Barsele, including, but not limited to: comments regarding when or under which conditions the proposed transaction will be completed. Forward-looking information is necessarily based on a number of factors and assumptions which, if false, could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by these statements. These statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold, anticipated costs and the ability to meet targets. . With respect to forward-looking statements regarding the anticipated completion of the proposed transaction, Barsele has provided them based on certain assumptions it believes are currently reasonable, including assumptions as to the time required to negotiate a definitive agreement. and resolve matters relating to the proposed Transaction; the parties’ ability to receive necessary regulatory, corporate and other third party approvals on a timely basis; and the ability of the parties to meet, in a timely manner, the other conditions of the proposed transaction closing. Forward-looking statements deal with future events and conditions and therefore involve inherent risks and uncertainties. These factors include, but are not limited to: the risks and uncertainties associated with not closing the proposed transaction on time or at all or on the terms and conditions set out in the letter of intent; failure to obtain regulatory and third party approvals necessary to proceed with the proposed transaction; the profit of the proposed transaction not being realized; the Company’s ability to obtain additional financing, the need to comply with environmental and government regulations, fluctuations in commodity prices, operational hazards and risks, competition and other risks and uncertainties, including those described in the Company’s financial statements, management report and analysis (“Management report“) and the current Annual Information Form available at www.sedar.com. The risk factors identified in the financial statements, MD&A and Annual Information Form are not intended to represent a complete list of factors that could affect the Company. Actual results may differ materially from those currently anticipated in these statements and the Company assumes no obligation to update such statements, except as required by law.

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SOURCE Barsele Minerals Corp.