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Magnus Minerals Ltd. Announces Ownership Interest in Silverstone Resources Corp.

VANCOUVER, British Columbia, Aug. 02, 2017 (GLOBE NEWSWIRE) -- Magnus Minerals Ltd. (“Magnus” or the “Company”) is pleased to announce that pursuant to an option agreement entered into between Magnus and Silverstone Resources Corp. (“Silverstone”) dated August 1, 2017 (the “Option Agreement”) Magnus has acquired direct or beneficial ownership in securities of Silverstone. Magnus has acquired direct or beneficial ownership in securities of Silverstone consisting of an aggregate of 6,000,000 common shares (“Common Shares”) in the capital of Silverstone.

Prior to completing the share issuance pursuant to the Option Agreement (the “Share Issuance”), Magnus did not beneficially own or control, directly or indirectly, any securities of Silverstone. After completion of the Share Issuance Magnus holds 45.76% of the issued and outstanding Common Shares. Magnus has granted Silverstone an exclusive right and option to earn and acquire a 100% interest in each of the Riikonkoski (East and West), Jeesiö (including Jeesiö West) and Ylöjӓrvi (including Oks) projects (the “Projects”) which are located in Finland and currently owned by Magnus (the “Option”). Silverstone issued the Common Shares to Magnus as partial consideration for the Option.

The Common Shares were acquired by Magnus in connection with the Option Agreement and for investment purposes. Magnus currently does not have any definitive plans or future intentions in respect of the acquisition of additional securities of Silverstone or which relate to Silverstone’s current business or corporate structure. In connection with entering into the Option Agreement Silverstone announced a change to its directors and management team including the appointment of a Magnus representative as a director and the President and CEO of Silverstone. Further details regarding the Option Agreement and the changes to the directors and officers of Silverstone can be found on SEDAR under Silverstone’s company profile at www.sedar.com

This Press Release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with the applicable securities commissions or similar regulatory authorities in Canada, which report will contain additional information with respect to the foregoing matters (the “Early Warning Report”). A copy of the Early Warning Report will be filed on SEDAR under Silverstone’s company profile at www.sedar.com and can also be obtained by contacting the company at the number listed below.

This news release contains “forward-looking information” within the meaning of applicable securities laws relating to, future plans and intentions of Magnus, the appointment of certain persons as directors and officers of Silverstone and associated matters. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct or enduring. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, that the plans of the Purchasers may change and directors and officers may not perform their roles as currently expected. The statements in this press release are made as of the date of this release.

Not for distribution to U.S. Newswire Services or for dissemination in the United States of America.  Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

For further information, please contact:

Magnus Minerals Ltd.
+358 374 11 8877
PL3 33211 Tampere, Finland

/EIN News/ --