Vancouver, B.C. (February 21, 2020) Astorius Resources Ltd. (TSX-V:ASQ) (“Astorius” or the “Company”) is pleased to provide an update shareholders. The Company successfully completed its most recent financing, (news release dated February 7, 2020), and is currently planning its exploration and development objectives for the upcoming quarters. With the recent acquisition of an additional gold property located along the Cadillac Fault in Val d’Or and proximal to the Exxeter gold deposit, the Company is focussed on enhancing shareholder in 2020 through the furtherance of its exploration assets and the acquisition of strategic gold targets.
In 2019, Gold had its best performance since 2010 when it gained 30 percent in the fallout of the housing and financial crisis, rising by 18.4% in US dollar terms. Gold has outperformed major global bond and emerging market stock benchmarks in the same period (see chart below).
Gold continues to break higher in 2020 despite a strong US dollar, with a well-known chart set-up looking like it is driving to move higher according to recent article by DailyFX. On February 19th, 2020, Citi upgraded its six-to-12-month price target for gold to $1,700/oz and upgraded its 2020 base case average gold price forecast from $1,575 to $1,640/oz.
Citi commodity strategists also projected fresh nominal highs of $2,000/oz to be breached in the next 12 to 24 months. Gold is breaking above a major point of resistance and moving up to new multi-year highs. “We are incredibly pleased with what is happening in the gold sector at the moment. Astorius is well positioned to capitalize upon the continued outstanding performance of gold and we expect to make significant strides this year”, stated Arthur Brown, President and Director.
Astorius Resources Ltd. (www.astoriusresources.com) is engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in North and South America.
For further information please contact:
Arthur Brown, President & Director (604) 685-7720 [email protected] www.astoriusresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by su ch forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual
results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Astorius believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed
on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time fr ames or at all. Astorius disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.