Omineca Mining and Metals Announces $500,000 Financing

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SASKATOON, March 14, 2019 /CNW/ - Omineca Mining and Metals Ltd. (TSX-V: OMM) ("Omineca" or the "Company") announces a non-brokered private placement offering of up to 10,000,000 units of the Company at $0.05 per unit for gross proceeds of up to $500,000. Each unit consists of one (1) common share and one (1) common share purchase warrant. Each warrant entitles the holder to acquire one (1) common share at $0.10 for 24 months following closing of the offering. Proceeds will be used to finance transaction costs related to the bulk sampling program announced on March 1, 2019, along with planning the 2019 hard rock exploration program, and for general working capital.

Omineca has two distinct yet related projects – the Wingdam underground placer gold recovery project and an exploration project for potential hard rock sources for placer gold historically found at Wingdam. The Company's August 2018 geophysics program yielded magnetic lineaments that together with data compilation have allowed delineation of four targets on the Wingdam property. The property contains structural features similar to those hosting gold at Barkerville Gold Mine's Cariboo project located 25 km east-northeast of Wingdam.

Omineca proposes a 2019 exploration program (the "Program") consisting of a VTEM survey over the priority target areas identified in the 2018 geophysics program to define drill targets, as well as a program of ground sampling and trenching.  Details of the Program will be announced when finalized.

The offering is subject to regulatory approval, including the approval of the TSXV. All securities issued pursuant to the offering are subject to a statutory four month hold period. Omineca advises that the insiders of the Company may participate in the financing, which will be completed pursuant to available related-party exemptions under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions).

About Omineca Mining and Metals Ltd.

Omineca Mining and Metals Ltd. controls a 100% interest in the Wingdam Project through its wholly owned subsidiary CVG Mining Ltd. The 2700 ha Wingdam Project is located 45 km east of Quesnel B.C. on the Barkerville highway. The property includes both placer and hard-rock tenures along the Lightning Creek valley, where topographic conditions created a thick overburden  which  preserved a large portion of the channel from conventional surface placer mining activity.

This press release was prepared and approved by Dr. Stewart A. Jackson, PGeo., a Qualified Person as defined by National Instrument 43-101, and a Technical Advisor to the Company. Dr. Jackson has 60 years experience in minerals exploration in a variety of deposit types, and in many areas of the world.

This news release does not constitute an offer to sell, or the solicitation of an offer to buy securities in any jurisdiction in which such offer or solicitation would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

The securities offered under the offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, any U.S. Person (as defined in Regulation S of the Securities Act) or a person in the United States, unless an exemption from such registration requirements is available.

Forward Looking Statements

This release includes forward-looking statements regarding Omineca and its business.  Such statements are based on the current expectations and views of future events of Omineca's management.  In some cases, the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of the failure to consummate the project financing, the economic feasibility of the Wingdam Project, known and unknown risk factors and uncertainties affecting Omineca, including risks regarding the resource industry, economic factors and the equity markets generally and many other factors beyond the control of Omineca. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information.  Forward-looking statements speak only as of the date on which they are made and Omineca undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.

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

SOURCE Omineca Mining and Metals Ltd

Tom MacNeill, President and CEO, 306-653-2692