Stuhini Appoints Dr. Stewart A. Jackson to Advisory Board, Confirms Extension of an Investor Relations Contract and Grants Stock Options

VANCOUVER, BC, Aug. 6, 2021 /CNW/ - Stuhini Exploration Ltd. (the "Company" or Stuhini") (TSXV: STU) is pleased to announce the appointment of Dr. Stewart A. Jackson, P.Geo. to the Advisory Board.  The Company also confirms the extension of an investor relations contract with Natrinova Capital Inc. ("Natrinova") (the "IR Contract") and the grant of stock options to certain directors, officers and consultants.

Appointment of Dr. Jackson to Advisory Board

Dr. Jackson is a Professional Geologist accredited in Ontario, Canada. He holds a B.Sc. in Geology from the University of Western Ontario (now Western University), an M.Sc. in Stratigraphy and Mineral Deposits from the University of Toronto, and a Ph.D in Stratigraphy and Economic Geology from the University of Alberta.  He is a specialist in carbonate-hosted mineral deposits and limestone sedimentology.

Dr. Jackson brings decades of experience having been involved in the discovery, acquisition and exploration of multiple precious and base metals deposits.  He was instrumental in delineating and vending the multi-billion pound Viken uranium, molybdenum, nickel and vanadium deposit in Sweden, and was instrumental in the development of the over one billion tonne Turnagain nickel-cobalt, platinum deposit at Dease Lake, BC.  He was instrumental in discovering the Red Dog zinc-lead deposits in northwest Alaska, currently operated by Teck.  He also founded Crown Resource Corporation which discovered over 2 million ounces of gold in Washington, USA at various mines which were put in production by Kinross Gold.

Dr. Jackson has also raised $200 million for the discovery and development of these and other mineral exploration projects.

Company President and CEO Dave O'Brien commented: "Dr. Jackson has presided over multiple mineral discoveries as well as development of resources over the course of a storied career.  It's an honour to have him accept an advisory position with the Company. His experience as an executive and director of companies that discovered and developed numerous major mineral deposits will be invaluable to the Company.  He has a wealth of experience not only as a geologist but as an executive raising exploration capital and, as a bonus, an intimate knowledge of the Atlin area – he first visited the Ruby Creek Project in 1964.  Dr. Jackson has stated he is especially excited about the potential of the recent Stuhini intrusion hosted gold discovery as a source of the Atlin placer gold."

In connection with Dr. Jackson's appointment to the Advisory Board, Stuhini has granted him options to purchase 100,000 common shares of the Company at $0.60 per share until August 6, 2023. The options will vest as to 25% every three months after the date of grant and are subject to the terms of the Company's Stock Option Plan and TSX Venture Exchange ("TSX‑V") approval.

Confirmation of Extension of IR Contract

Further to the IR Contract between the Company and Natrinova announced in the Company's news release dated February 23, 2021, the Company confirms the extension of the IR Contract to May 23, 2022 with successive one‑year renewals thereafter by mutual agreement.  Under the IR Contract, Natrinova provides a suite of investor relations services to the Company for a monthly fee of $3,000 (subject to adjustment depending on actual provision of services) and such additional à la carte services that may be requested by the Company at set prices. In connection with the IR Contract extension, the Company has granted Natrinova additional options to purchase 100,000 common shares of the Company at $0.60 per share until May 23, 2023.  The options will vest as to 25% every three months after the date of grant and are subject to the terms of the Company's Stock Option Plan.  The extended IR Contract and the options granted to Natrinova are subject to TSX‑V approval.

Additional Stock Option Grants

In addition to the option grants mentioned above, the Company has also granted to directors, officers and consultants of the Company options to purchase an aggregate of 445,000 common shares of the Company at $0.60 per share until February 6, 2024. The options will vest as to 25% every three months after the date of grant and are subject to the terms of the Company's Stock Option Plan and TSX‑V approval.

About Stuhini Exploration Ltd.

Stuhini is a mineral exploration company focused on the exploration and development of precious and base metals properties in western Canada. The Company's portfolio of exploration properties includes its flagship Ruby Creek Property located approximately 20 kilometres ("km") east of Atlin, BC; the Que Property located approximately 70 km north of Johnson's Crossing in the Yukon; the South Thompson Project located approximately 35 km northwest of Grand Rapids, Manitoba; and the Big Ledge Property located approximately 57 km south of Revelstoke, BC.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Stuhini Exploration Ltd.