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Moneta Porcupine Mines and Wahgoshig First Nation Sign Exploration Agreement

Aug 8, 2019

Moneta Porcupine Mines announced it has entered into an exploration agreement with the Wahgoshig First Nation, that promotes a cooperative and mutually respectful relationship concerning Moneta's mineral exploration activities, including those which comprise the Golden Highway and any additional mining claims or properties that may be acquired, within the Wahgoshig First Nation traditional territory. 
 
The parties agree that their common objective is to promote a cooperative and mutually respectful relationship concerning Moneta's exploration of its mining claims including those which comprise the Golden Highway project, while recognizing the importance of the environment. 
 
The Wahgoshig First Nation is an Algonquin community whose traditional territory straddles a large segment of Northeastern Ontario and Northwest Quebec, is located approximately 15 km from the Golden Highway Project.
 
Gary O'Connor, CEO and Chief Geologist stated: "We recognize the aboriginal and treaty rights as well as the importance of the traditional lands to the Wahgoshig First Nation. Moneta are committed to developing a positive relationship, which recognizes the need for all to mutually benefit and co-exist. Through a process of mutual respect, ongoing dialogue and regular interaction Moneta looks forward to working cooperatively with Wahgoshig First Nation. We also feel that active participation and a close relationship with the Wahgoshig First Nation community will continue to create sound business opportunities."
 
Brian Gelinas of Wahgoshig First Nation stated: "We are pleased to have entered into this exploration agreement with Moneta to ensure that all Exploration Activities conducted within Wahgoshig First Nation Traditional Territory are conducted for the mutual benefit of Wahgoshig First Nation and Moneta".
 
Moneta has issued 50,000 common shares to Wahgoshig First Nation, subject to regulatory approval. Moneta will also contribute to the Wahgoshig First Nation community to mitigate any environmental impacts that may be created during exploration activities on the Golden Highway Project within the traditional lands of the Wahgoshig First Nation.
 
Moneta further announces that it has signed a definitive agreement to acquire eight single and boundary cell mining claims contiguous with the eastern edge of the Golden Highway project, within Garrison Township. The mining claims cover the continuation of favourable geology east of the current published resources on the Golden Highway project. A total of eighty thousand common shares were issued to the seller as final consideration, with no royalty or other encumbrances.
 
Moneta holds a 100% interest in 6  gold projects  located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp an area that has produced over 80 million ounces of  gold  in the past. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, DeSantis East, Kayorum and Denton projects. 
 
The Golden Highway Project covers 12 kilometres of prospective ground along the DPFZ of which 4 km hosts the current 43-101 mineral resource estimate comprised of an indicated resource of 383,400 ounces gold contained within 2.59 Mt @ 4.61 g/t Au and a total of 873,200 ounces gold contained within 6.46 Mt @ 4.21 g/t Au in the inferred category at a 3.00 g/t Au cut-off.
 
The Moneta's public documents may be accessed at www.sedar.com. For further information on the Corporation, please visit  website at www.monetaporcupine.com or email at info@monetaporcupine.com.