Idaho Champion Gold Mines Files Revised AIF and Amended Technical Reports

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TORONTO, ON / ACCESSWIRE / July 23, 2020 / Idaho Champion Gold Mines Canada Inc. (CSE:ITKO) ("Champion" or the "Company"), announces that it has filed a revised annual information form for the year ended December 31, 2019 (the "AIF"), and amended technical reports following a regulatory review of the Company's preliminary prospectus (including the documents incorporated by reference therein) and technical reports filed on July 14, 2020.

The AIF has been revised to include a statement of executive compensation for the year ended December 31, 2019, and additional disclosure with respect to directors or officers of the Company who had acted in the capacity of a director or officer of an issuer that was subject to bankruptcy (or similar proceeding) or a cease trade order (or similar proceeding) within the past ten years.

The Company has also filed an amended technical report for each of its Baner and Champagne projects, respectively entitled "NI 43-101 Technical Report on the Baner Project, Updated from the August 2018 Report" (the "Baner Report"), and "Technical Report on the Champagne Property, Arco, Idaho, U.S.A." (the "Champagne Report"), each amended as of July 21, 2020. The Baner Report has been amended to replace information about sources of information for the Baner Report previously disclosed under the heading in Section 3 - "Reliance on Other Experts" under the heading in Section 2 - "Introduction and Terms of Reference". The replacement was effected to avoid suggestions that the author of the Baner Report was "relying" on sources of information other than as permitted under the enumerated exceptions for reliance on other experts described in Section 3 of National Instrument 43-101F1 - Reliance on Other Experts.

The Champagne Report was amended to (a) remove disclosure concerning the reason the primary author of the Champagne Report could not conduct a personal inspection on the property in order to avoid suggestions about available exemptions from the current personal inspection requirements of National Instrument 43-101 in the context of the COVID-19 public health crisis; (b) include a description of data verification procedures associated with the current personal inspection undertaken by the qualified person responsible for the current personal inspection; and (c) include each authors' opinion on the adequacy of the available data for the purposes used in the Champagne Report.

This news release is issued and the re-filings of the AIF, Baner Report, and Champagne Report described above are made at the request of the staff of the Ontario Securities Commission in connection with the review conducted in connection with the filing of a short form prospectus by the Company.

Each of the AIF, Baner Report, and Champagne Report are available under the Company's profile on SEDAR at www.SEDAR.com.

About Idaho Champion Gold Mines Inc.

Idaho Champion is a discovery-focused gold exploration company that is committed to advancing its 100% owned highly prospective mineral properties located in Idaho, United States. The Company's shares trade on the CSE under the trading symbol "ITKO". Idaho Champion is vested in Idaho with the Baner Project in Idaho County, the Champagne Project located in Butte County near Arco, and four cobalt properties in Lemhi County in the Idaho Cobalt Belt. Idaho Champion strives to be a responsible environmental steward, stakeholder and a contributing citizen to the local communities where it operates. Idaho Champion takes its social license seriously and employs local community members and services its operations.

ON BEHALF OF THE BOARD

"Jonathan Buick"

Jonathan Buick, President and CEO

For further information, please visit the Company's SEDAR profile at www.sedar.com or the Company's corporate website at www.idahochamp.com.

For further information please contact:

Nicholas Konkin, Marketing and Communications
Phone: (416) 477 7771 ext. 205
Email: [email protected]

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.

Cautionary Statements

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE: Idaho Champion Gold Mines Canada Inc.



View source version on accesswire.com:
https://www.accesswire.com/598691/Idaho-Champion-Gold-Mines-Files-Revised-AIF-and-Amended-Technical-Reports

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