Gespeg Acquires Claims in Chibougamau and Gaspe and Begins Work on the Davidson Project

SASKATOON, Saskatchewan, June 23, 2020 (GLOBE NEWSWIRE) -- GESPEG RESOURCES LTD. (TSX-V: GCR) (the “Company” or “Gespeg”) , is pleased to announce that it has entered into a purchase agreement (the "Agreement") with an arm's length party (the "Vendor"), to acquire a 100% undivided interest of 9 claims in the Chibougamau Region and one additional claim in the Gaspe Peninsula part of the Native Copper Project.  Under the terms of the Agreement, Gespeg is acquiring the Properties by paying the Vendor 200,000 shares.

Additionally, Gespeg announces that it has begun its initial exploration and prospecting work program in the Chibougamau region on the Davidson Project, which is a Joint Venture property with J.A. MacLeod Exploration.  The goal of the program is twofold:

1. To identify access and visit the known showings on the property. 
2. To use the information gathered to finalize the planned larger program in the fall. 

The Davidson Project is now comprised of 42 claims situated south of the past producing Icon Mine, which historically produced 1,616,567 tonnes of 3.07% copper.  The property is adjacent to Route 167 north east of Chibougamau and has several known copper showings.

Mr. Sylvain Laberge, President and CEO of Gespeg, remarks "We are pleased to increase our land position in these new projects. It furthers our mandate and goal to explore underexplored regions and we are pleased to start our JV with Jim MacLeod and build a great relationship.”   

About Gespeg Resources Inc.: Gespeg is an exploration company with a focus in strategic and energy metals in the underexplored Gaspe and Chibougamau regions of Québec.  With a dedicated management team, the Company’s goal is to create shareholder value through the discovery of new deposits.

Bernard-Olivier Martel, P. Geo, the Company's Director of Exploration, is a qualified person (as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects) and has reviewed and approved the technical disclosure contained in this news release.

GESPEG RESOURCES LTD.

(signed) “Sylvain Laberge”

Sylvain Laberge President and CEO 514.702.9841[email protected]

Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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

Source: Gespeg Resources Inc.

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