Friday 21st July 2017

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With Mali gold acquisition, Cardiff Energy to become Cheetah Canyon Resources

by Greg Klein | July 10, 2017

A gold country that hosts both major miners and extensive artisanal output, Mali has now attracted Cardiff Energy TSXV:CRS to a new project. The company announced a definitive agreement on July 10 to take on a 100% interest in a property that comes with an estimated $250,000 worth of mining equipment. Emphasizing the company’s new focus, Cardiff also plans to change its moniker to Cheetah Canyon Resources.

With Mali gold acquisition, Cardiff Energy to become Cheetah Canyon Resources

Recently in operation, the Mali gold property
comes with $250,000 worth of mining equipment.

Subject to approvals, the price tag comes to an already-paid $25,000 plus nine additional $25,000 payments every three months, for a total of $250,000. The vendor also gets 2.5 million shares at a deemed price of $0.10 each.

Discussing his move into Africa’s third-largest gold-producing country, Cardiff president/CEO Jack Bal said the property had been in operation recently but closed after the previous owner suffered an accident. “Our initial plans are to do a geological program and re-assay some previously mined material. We plan to do a 43-101 technical report.”

Additionally, the company announced a private placement of up to $500,000.

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