Eskay Mining: Closes $13.8 Million Brokered Private Placement

TORONTO, ON / ACCESSWIRE / December 14, 2020 / Eskay Mining Corp. (“Eskay” or the “Company”) (TSXV:ESK)(OTCQB:ESKYF)(FSE:KN7)(WKN:A0YDPM) is pleased to announce that it has closed the brokered private placement offering previously announced on November 20, 2020 and November 26, 2020 and has issued an aggregate of 1,214,100 units of the Company (the “Units”) at a price of $0.90 per Unit (the “Unit Issue Price”), 2,904,700 flow-through shares of the Company (the “FT Shares”) at a price of $1.05 per FT Share and 9,657,000 flow-through units of the Company (the “FT Units”, and with the Units and FT Shares collectively, the “Offered Securities”) at a price of $1.25 per FT Unit for aggregate gross proceeds of $13,799,625 (the “Offering”). The Offering was led by Echelon Wealth Partners Inc. and Eight Capital as co-lead agents (the “Agents”).

“Strong demand for Eskay’s financing illustrates the excitement behind our recent discovery of multiple precious metal rich VMS systems across our very large land holding in the Golden Triangle,” commented Dr. Quinton Hennigh, Director of and Technical Advisor to Eskay Mining. “These funds ensure our ability to undertake an aggressive, +30,000 m diamond drill program in 2021. Next year’s program will focus on three objectives: 1) infill and step-out drilling at the 5 km long TV-Jeff VMS trend, 2) infill and step-out drilling at the 3 km long SIB-Lulu VMS system immediately adjacent to and on strike with Skeena Resources’ Eskay Creek deposit, and 3) initial drill testing of up to a dozen newly identified high-priority targets across the property. Logistics and drill planning is currently underway with plans to commence drilling in June, 2021. We firmly believe that we are on the path to a significant precious metal rich VMS discovery and that next season’s exploration program will prove to be one of the most exciting in Canada.”

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