Calgary, Alberta--(Newsfile Corp. - August 5, 2025) - Legacy Gold Mines Ltd. (TSXV: LEGY) (the "Company" or "Legacy Gold") announces that drilling will commence next week on the Baner gold property located in Idaho County, Idaho, USA (the "Baner Gold Mine Property"). Permits and approvals were received in July from the US Forest Service, and the Company assembled the required contractors to target the mid-August start up date. The Baner Gold Mine Property sits within the Orogrande Mining District that includes numerous gold deposits and gold mines along geologic structures that have hosted gold production since Idaho's first gold rush in the late 1800's.
"We are excited to test the potential for gold mineralization our team believes there is on the Orogrande structure, which has hosted gold production from many mines in the past," said Brian Hinchcliffe, Legacy Gold CEO. "Once drill approvals were in hand, the Legacy Gold team finalized plans with all contractors such that drilling will be completed in September, unless we extend the drill plan."
"Since acquiring our option on the Baner Gold Mine Property, a great deal of prospecting and surface sampling has been carried out and we are very pleased with these results, which found 20 historic mine shafts and adits and returned some high-grade assays at these historic mining sites," said Mike Sutton, VP, Exploration of the Company. "We are concentrating now on finalizing the drill plans for next week's start up."
As previously announced (see the Company's July 24, 2025, press release), following the acquisition of an option to acquire the Baner Gold Mine Property from Champion Electric Metals Inc. last year, Legacy Gold submitted applications for the various permits required to drill the 3,818 acre (1,545 hectare) Baner Gold Mine Property with the US Forest Service. The Company's applications were amongst the first to be reviewed and approved under the new Land Management Plan the US Forest Service has adopted for the Nez Perce-Clearwater National Forests. Champion Electric Metals had previously carried out two drilling programs on the Baner Gold Mine Property and since submitting its permitting applications, Legacy Gold has:
- Delineated and organized the pads and sites that drilling will take place from.
- Continued organizing and studying the historic core from previous drill campaigns for marker horizons/structures.
- Carried out comprehensive soil sampling grids across the entire Baner Gold Mine Property.
- Organized historical data for better geo-referencing of previous drilling and assays in order to define the mineralization on the Baner Gold Mine Property within a 3D geological model.
Review by Qualified Person
Mr. Mike Sutton, P.Geo., Director and VP of Exploration of the Company, is the Qualified Person, as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, who reviewed and approved scientific and technical disclosure in this press release. The Qualified Person has not reviewed the mineral tenure, nor independently verified the legal status and ownership of the Baner Gold Mine Property or any underlying property agreements.
About Legacy Gold Mines Ltd.
The Company is a Canadian based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol "LEGY". The Company holds an option to acquire a 100% undivided interest in and to the mineral claims comprising the Baner Gold Mine Property located in Idaho County, Idaho, USA.
Additional information about the Company and the Baner Gold Mine Property is available on SEDAR+ at www.sedarplus.ca under the Company's profile, including a technical report titled "NI 43-101 Technical Report on the Baner Project, Idaho County, Idaho, USA", dated effective August 1, 2024, prepared by Steven A. Osterberg, Ph.D., P.G. (the "Technical Report").
For further information, please contact:
Legacy Gold Mines Ltd.
Brian Hinchcliffe, Executive Chairman and Chief Executive Officer
Telephone: +1 (587) 327-9815
Email: info@legacygoldmines.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This press release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, timing and completion of any exploration, drilling and work programs on the Baner Gold Mine Property, estimates of mineralization from drilling, sampling and geophysical surveys, geological information projected from drilling and sampling results and the potential quantities and grades of the target zones, the potential for minerals and/or mineral resources and reserves, and statements regarding the plans, intentions, beliefs, and current expectations of the Baner Gold Mine Property and the Company that may be described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, as well as those risk factors discussed in the Filing Statement of the Company dated effective September 19, 2024 or referred to in the Company's annual Management's Discussion and Analysis for the year ended December 31, 2024 and the period ended March 31, 2025 available at www.sedarplus.ca, many of which are beyond the control of the Company. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261219
SOURCE: Legacy Gold Mines Ltd.
