Gainey Announces Field Review of the El Colomo Project by Vp Exploration and Completion of the Initial Portion of the Phase II Exploration Program

Vancouver, British Columbia – Gainey Capital Corp. (TSXV: GNC) (OTCQX: GNYPF) (“Gainey” or the “Company”) is pleased to announce the completion of a project review by Gainey’s recently appointed VP Exploration, Brian Metzenheim. Further, Gainey announces the completion of the mapping and sampling portion of the Phase II exploration program at the El Colomo Gold-Silver project (“El Colomo”) located in the States of Nayarit and Durango, Mexico. 
 
During the latter half of October, Mr. Metzenheim toured the El Colomo property, reviewed work completed to date and evaluated work proposed as part of the Phase II exploration program.  Details of the Phase II program at El Colomo were outlined in the news release dated October 3, 2017. The tour included a review of the previously drilled La Nueva Victoria and La Higuerita zones and related drill core, field review of the El Arrayan, Las Minitas, La Bufa, and El Guayabo zones, and an overview of the exploration potential to the north and northwest of the Golden Corridor where prior reconnaissance stream sediment sampling has identified several drainage basins with anomalous gold. Rafael Gallardo, Senior Geologist with Minera Cascabel S.A. de C.V. led the tour and has directed exploration work on the project in the past.
 
Following the field review of the El Colomo project and exploration work, Brian Metzenheim commented “Rafael and his group have done an exceptional job advancing the project and bringing targets to the drill stage.”  Regarding the potential on the El Colomo property, he stated, “I am encouraged by the presence of an extensive mineralized system that hosts significant precious metal grades.  The next step is to define and expand the most favorable portions of the system and build on past exploration success.”    
 
In conjunction with the project review by Mr. Metzenheim, field crews from Minera Cascabel were mobilized to the project and completed geologic mapping, rock chip sampling and stream sediment sampling. The work was designed to elevate zones within the Golden Corridor to the drill stage, identify additional mineralized zones outside the Golden Corridor, and to evaluate large areas of the company’s claims where no known modern exploration work has been carried out. The majority of the program was carried out as planned, though a portion of the reconnaissance work had to be postponed due to high water flows in the larger arroyos and rivers following the rainy season. A total of 64 rock chip and 13 stream sediment samples were collected.  Field work was finalized in early November and assay results have now been received. Results will be released once they have been assembled and reviewed in conjunction with prior exploration work.
 
In addition to advancing the El Colomo project, the company has also been actively reviewing projects located throughout western Mexico with the goal of acquiring additional properties to add to the company’s exploration pipeline. Projects are being considered on the basis of exploration potential and acquisition costs to minimize risk to capital while ensuring a reasonable probability of identifying an economic deposit.   
 
Brian Metzenheim, Vice President Exploration, Gainey Capital Corp. is the Company’s Qualified Person as defined by NI 43-101 and has reviewed and approved the technical information in this news release.

Gainey Announces Closing of Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC – Gainey Capital Corp. (the “Company” or “Gainey”) (TSX-V:GNC) is pleased to announce that it has closed the second, and final, tranche of its previously announced non-brokered private placement by issuing an additional 5,979,653 units at a price of $0.12 per unit to raise gross proceeds of $717,758 with all securities issued having a four-month hold period which expires on March 11, 2018. Total gross proceeds of the Offering are $1,957,558 with a total of 16,312,986 shares, 16,312,986 warrants, and 385,000 Finders’ Warrants being issued.

As previously announced, each Unit in this offering consists of one common share in the capital of the Company (each a “Common Share”) and one share purchase warrant (a “Warrant”). Each full warrant entitles the Unit holder to purchase one (1) additional GNC common share at a price of $0.24 per share at any time within 36 months of the closing.

With respect to finders’ fees, the Company will pay an aggregate of $30,000 in cash, issue 135,000 shares, and issue 385,000 Finders Warrants in connection with this offering. The Company issued 250,000 Finders’ warrants exercisable at a price of $0.16 for a period of 24 months and 135,000 Finders’ warrants at an exercise price of $0.24 for a period of 36 months.

The net proceeds of the Offering will be used to advance exploration activities at the Company’s Mexican El Colomo property as well as for general working capital.

Gainey Announces the Appointment of Brian Metzenheim to Vice President Exploration

Vancouver, British Columbia – Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) (“Gainey” or the “Company”) is pleased to announce the appointment of Brian Metzenheim as Vice President Exploration, effective immediately.

Brian Metzenheim has over 20 years experience in mineral exploration with a focus on precious metals.  Most recently, Mr. Metzenheim spent 15 years with Minefinders Corporation managing generative reconnaissance programs and project exploration across Northern Mexico including the advanced stage La Bolsa property.  Following the acquisition of Minefinders by Pan American Silver Corp.  Mr. Metzenheim assumed the position of Manager, US Exploration with Pan American Silver, managing the drill confirmation of a 100+ million ounce silver deposit and evaluation of potential acquisition targets. Mr. Metzenheim holds a BSc in Geology from the University of Nevada, Reno, is a Qualified Person as defined by NI 43-101 and is fluent in Spanish.  

“I am excited to join Gainey Capital as VP Exploration and look forward to leading the team that will take the El Colomo project to the next level,” said Brian Metzenheim. “Given the geological similarities of the project to many of the mineral occurrences I have successfully advanced elsewhere in Mexico, I am confident we can unlock the maximum value from El Colomo.”

David Coburn, Gainey’s CEO, stated, “We are very excited to have Brian Metzenheim as our VP Exploration and now leading our exploration strategy and exploration team at Gainey. Brian has had a tremendous amount of success in Mexico with geological systems similar to what we are targeting at our El Colomo project.”

Gainey Announces Phase II Exploration Program at El Colomo

Vancouver, BC – Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) (“Gainey” or the “Company”) is pleased to announce that as of October 15, 2017, the Company will commence its Phase II exploration program at the El Colomo Gold-Silver project (“El Colomo”) in the States of Nayarit and Durango, Mexico. The Phase II program will be divided into four stages, as follows:

Stage 1

Detailed mapping program along the known Golden Corridor, paying particular focus on the El Arrayan, Las Minitas, La Bufa and El Guayabo mineralized zones, located 1.2 km to the south-southeast of the La Nueva Victoria and La Higuerita mineralized zones which have been drill tested by Gainey and have encountered gold and silver mineralization.

Stage 2

Detailed mapping and rock chip sampling to the north of El Colomo’s Golden Corridor where four anomalous gold showings have been identified through the Company’s stream sediment sampling program. Highlights from this program include anomalous gold values of 129 ppb (“parts per billion”), 115 ppb, 74 and 75 ppb. 

These results were encountered in the State of Durango in an area 1.5 km wide by 2.5 km long of strongly argillically-altered and iron-stained volcanic rocks cut by multiple northwest-trending quartz veins. These altered areas, called Las Lajitas-Masparillo, El Verano-Los Aguacates y El Corpo-Encino Prieto, appear to be on-strike with, and may be an extension of, a 2.5  to 4 km to the Northwest of  the mineralized called the Golden Corridor which includes the La Nueva Victoria, La Higuerita, El Arrayan-Las Minitas and La Bufa-El Guayabo mineralized zones.

Stage 3

Stream sediment sampling to the west-northwest of the known Golden Corridor where the Company has completed exploration work on more than 3,000 hectares including mapping, sampling, and drilling.

Stage 4

Drilling program of approximately 3,000 m testing the targets at El Arrayan-Las Minitas and La Bufa-El Guayabo mineralized zones.

Rafael Gallardo, Senior Geologist of Minera Cascabel S.A. de C.V., who is leading the exploration program, stated “After encountering positive mineralization throughout our Phase I exploration program, our technical team has a deeper understanding of the geology surrounding the known gold-silver epithermal systems present throughout the El Colomo project. The exploration that was completed within Phase I has allowed us to define multiple, new targets which we are looking forward to expose.”

Technical aspects of this news release have been reviewed and approved by David Dupre P.Geo., designated as a qualified person under National Instrument 43-101.

Gainey Closes $1.2M First Tranche of Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

 

GAINEY Completes $1.2M First Tranche of Private Placement

 Vancouver, BC – Gainey Capital Corp. (TSXV: GNC / OTC: GNYPF) (“Gainey” or the “Company”) announces that it has closed the first tranche of its private placement (the “Offering”) announced on June 21, 2017.

The Company has issued a total of 10,033,333 units (“Units”) at a price of $0.12 per Unit for gross proceeds of $1,204,000.  Each Unit was comprised of one common share and one common share purchase warrant (“Warrant”), each Warrant entitling the holder to purchase one additional common share of the Company at a price of $0.24 for a period of 36 months (increased from the originally-announced term of 24 months). All securities issued in connection with the Offering will be subject to a statutory four-month hold period.

Insiders of the Company participated for a significant portion of the first tranche closing, including Eric Sprott through a company beneficially owned by him (2176423 Ontario Ltd.), who is a new insider by way of his subscription for 4,166,666 Units for gross proceeds of $500,000. As a result of the Offering, Mr. Sprott is the beneficial owner of 4,166,666 Common Shares and 4,166,666 Warrants representing approximately 7.6% of the issued and outstanding common shares of the Company on a non-diluted basis and 14.2% on a partially diluted basis. Prior to the Offering, Mr. Sprott did not directly or indirectly own any securities of the Company.

The Units were acquired by Mr. Sprott, through 2176423 Ontario Ltd. for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of the Company either on the open market or through private acquisitions or sell securities of the Company either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. A copy of 2176423 Ontario Ltd.’s early warning report will appear on the Company’s profile on SEDAR and may also be obtained by calling (416) 362-7172 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J2).

The proceeds of the Offering will be used for exploration activites at the Company’s 100%-owned El Colomo project located in the states of Nayarit and Durango, western Mexico.  The El Colomo project hosts 23 gold/silver mineralized zones which the Company continues to explore with drilling and geophysical testing.   Finders fees may be paid on portions of the Offering in accordance with TSX Venture Exchange regulations.

Gainey Files Updated NI 43 101 Technical Report on the El Colomo Gold-Silver Project

Vancouver, BC – Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) (“Gainey” or the “Company”) announces that the Company has filed a National Instrument 43-101 (“NI 43-101”) on their El Colomo Gold-Silver project located in the Sierra Madre Occidental Trend in western Mexico.

The independent NI 43-101 technical report for the El Colomo project was prepared for Gainey by David Dupre, PGeo and John Wilson, PGeo, both of whom are Qualified Persons under NI 43-101 standards.  The report has been filed on SEDAR at www.sedar.com and on the Company website at www.gaineycapital.com.

Gainey Arranges $2,500,000 Non-Brokered Private Placement

Vancouver, BC – Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) (“Gainey” or the “Company”) announces that the Company has arranged a non-brokered private placement (the “Offering”) of up to 20,833,333 units (“Units”) in the capital of the Company at a price of $0.12 per Unit for gross proceeds of up to $2,500,000.

Each Unit will be comprised of one common share and one common share purchase warrant (“Warrant”), each Warrant entitling the holder to purchase one additional common share of the Company at a price of $0.24 per share for a period of 24 months. All securities issued in connection with the Offering will be subject to a statutory four-month plus one-day hold period. Finders’ fees may be paid in connection with this Offering.

The proceeds of the Offering will be used for exploration activites at the Company’s 100%-owned El Colomo project located in the states of Nayarit and Durango, western Mexico. The El Colomo project hosts 23 gold/silver mineralized zones which the Company continues to explore with drilling and geophysical testing. Detailed drill results from the La Nueva Victoria zone, one of the 23 El Colomo zones, are available in Gainey press releases dated September 28, 2016 and October 3, 2016, available at www.sedar.com.

Gainey Adds Mark Bailey to Advisory Board

Vancouver, BC – Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) (“Gainey” or the “Company”) is pleased to announce that the Company has added Mr. Mark Bailey to its Advisory Board.

Mr. Bailey holds a Master’s degree in geology, is a registered professional geologist with over 40 years experience, most recently in the role of President & CEO of TSX-listed Minefinders Corporation Ltd. from 1995 to its sale in 2012. While with Minefinders, he was responsible for the discovery and development of resources totaling more than 3 million ounces of gold and 165 million ounces of silver as well as the eventual sale of the company to Pan American Silver Corp. for C$1.5 Billion in 2012. Prior to his tenure with Minefinders, Mr. Bailey held senior positions with Equinox Resources Inc. and Exxon Minerals. He is presently a director of Entree Gold, Mason Resources, Dynasty Metals & Mining, and Northern Lion and owner of M.H. Bailey & Associates LLC, a consulting Geologist company.

 

David Coburn, CEO of Gainey Capital, commented, “I am excited to add Mark Bailey to our Advisory Board, his experience within Mexico as well as his relationships within the investment community will be a major asset for Gainey Capital as we move the company forward and continue exploration on the El Colomo project.”

Gainey Provides Corporate, Operations, and Exploration Update

March 30, 2017 – Vancouver, BC – Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) (“Gainey” or the “Company”) provides the following corporate and exploration updates:

Corporate and Operations Update

The Company reports that the process of updating its NI 43-101 Technical Report on the El Colomo Gold-Silver project (“El Colomo”) located in the Sierra Madre Occidental Trend in Western Mexico is nearing completion and should be filed with the regulatory authorities shortly. 

The Company is pleased to report that it is currently negotiating ore supply contracts with multiple local Mexican mining operators to supply its 300-ton per day mill at Huajicori. As the resource industry continues to rebound, and with gold prices relatively stable, local producers have begun restarting operations – the Company is well-positioned to ramp up processing immediately. As needed, capacity at the Gainey mill can be scaled to up to 600 tons per day on an extremely cost-effective basis. 

Exploration Update – El Colomo Project

The Company is currently completing its Phase 1 drill program focused on the La Higuerita mineralized zone (“La Higuerita”) and the near-surface La Nueva Victoria Mineralized zone (‘La Nueva Victoria’) which are two of the Company’s 21 known mineralized zones within El Colomo. Drilling results from La Nueva Victoria have been released in previous news releases dated September 28 and October 3, 2016.  Results from La Higuerita, which have been sampled and shipped to ALS Chemex Labs in Vancouver, BC for analysis, will be reported as soon as they become available. 

La Higuerita is a part of Gainey’s 100%-owned, 187 km2  El Colomo Gold-Silver project that hosts 21 highly prospective, gold-silver mineralized zones located within the Sierra Madre Golden Belt, Mexico.

Drilling at El Colomo has to date returned significant gold and silver mineralization (see news releases dated September 28 and October 3, 2016).  Due to these results, Gainey continues to develop current prospects and identify additional drilling targets at El Colomo. 

David Coburn, CEO of Gainey Capital, commented, “Gainey will continue to push forward with our exploration program, drilling our most prospective identified targets. Our geological team has recently completed a comprehensive onsite technical review and is expecting to establish several new targets for a Phase 2 Drill program shortly.  We expect to provide more specifics on both the Phase 2 exploration and additional targets as soon as they become available.”

 

Gainey Provides Drilling Update

January 09, 2017 – Vancouver, British Columbia - Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) (“Gainey” or the “Company”) is pleased to announce that the Company’s Phase 1 drill program is progressing and has been expanded at the El Colomo Gold-Silver project (“El Colomo”) located in the Sierra Madre Occidental Trend in Western Mexico. The drilling is focused on the La Higuerita mineralized zone (“La Higuerita”) and the La Nueva Victoria Mineralized zone (‘La Nueva Victoria’) which are two of the Company’s 21 known mineralized zones within El Colomo.

As reported in the Company’s news release on October 13, 2016, the drilling of three additional drill holes targeting La Higuerita was announced, two of which have been completed, sampled and shipped to ALS Chemex Labs in Vancouver, BC for analysis and the remaining drill hole is currently in progress.

The La Higuerita mineralized zone is located approximately 250 meters northeast of La Nueva Victoria, from which Gainey drill tested and released  assay results on September 29, 2016 and October 04, 2016 (see Table 1 below).

Further, due to the positive results received at La Nueva Victoria in Q4 2016 (see Table 1 below), the Company is planning to drill an additional four holes, along the La Nueva Victoria trend, 140 meters to the northeast of holes DHEC160001-3, and in between the La Nueva Victoria and La Higuerita zones.

Table 1 – Previously released drill results from the La Nueva Victoria Zone:

HOLE ID

FROM(m)

TO(m)

Width(m)

Au_g/t

Ag_g/t

Au_Equivalent*

DHEC160001

5.15

76.00

70.85

0.65

35.31

1.14

Including

5.15

44.8

39.65

0.79

43.86

1.39

and

60.50

76.00

15.50

0.73

38.54

1.27

DHEC160002

19.40

91.60

72.20

0.41

20.21

0.69

Including

57.00

73.20

16.20

0.74

28.88

1.14

DHEC160003

10.50

44.70

34.20

1.19

86.57

2.39

Including

10.50

14.00

3.50

4.32

438

10.39

And

27.10

44.70

17.60

1.29

37.06

2.29

*Au Equivalent calculated using a price of $1,300 US/oz for gold and $18 US/oz for silver.

 David Coburn, CEO of Gainey Capital, commented, “we are pleased with the drilling progress thus far on La Higuerita and we are looking forward to the first set of results from this zone to be disseminated in early 2017.”

La Higuerita is a part of Gainey’s 100% owned, 187 km2  El Colomo Gold-Silver project that hosts 21 highly prospective, gold-silver mineralized zones located within the Sierra Madre Golden Belt, Mexico.

Qualified Person

David Hladky, P. Geo. is the Qualified Person with respect to NI 43-101 at El Colomo and has approved the content of this news release.