TSX.V : MARV $0.035   |  OTCQB: MARVF $0.026  |  O4T: GR 0,014 € 

Marvel’s Baie Verte Property Option to Carmanah Minerals Awaits Final TSX-V Approval

September 7, 2023. Vancouver, B.C. – Marvel Discovery Corp. (MARV: TSX.V), (O4T: GR), (MARVF: OTCQB); and Falcon Gold Corp. (FG: TSX.V), (3FA: GR), FGLDF: (OTCQB) together (the Alliance), hold 1,185 totaling 29,525 hectares located along the Baie Verte Brompton Line (“BVBL”) in Central Newfoundland. Marvel and Falcon agreed to option their interests in the Property to Carmanah Minerals Corp., previously announced on July 8th 2023. Carmanah recently announced the acquisition of the Hare Hill Pluton Rare Earth Project covering 162 claims totaling 4,050 hectares in Western Newfoundland. The Property is directly contiguous to the recent “Bottom Brook Acquisition” by York Harbour Metals Inc., announced on December 21, 2022.

The transaction is considered a non-arm’s length transaction as a result of the companies having directors and officers in common and is subject to TSX-V approval. As per TSX-V Policy, an NI 43-101 resource report and site visit has been completed pending final approval.

This transaction is beneficial for Marvel/Falcon. Having a large equity stake in Carmanah positions both companies favorably as exploration at the BVBL moves forward. Meanwhile, the option agreement enables Carmanah to develop a significant land position in the camp next to York Harbour’s Bottom Brook Property. The Hare Hill granitic system is prospective for rare-earth mineralization, as recently reported by York Harbour Metals, whose grab rock samples returned total rare earth oxide grades (TREO) between 3.45% and 21.63% TREO. Previously, Kirrin Resources Inc. reported drilling results that included 4.47% TREO over 5.64m core lengths and 1.16% TREO over 15.3m core lengths on the Bottom Brook project in February 2011.

Carmanah will make cash payments totaling $155,000 over a 4-year period and issue 5 million common shares, and 5 million share purchase warrants exercisable at 10 cents per share for a period of 3 years from the date of issue. The distribution will be a 60/40 split in favor of Marvel, with 3,000,000 shares and $93,000 issued to Marvel, and 2,000,000 shares and $62,000 issued to Falcon.

About Marvel Discovery Corp.

Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company.  The Company is systematically exploring its extensive property positions in:

  • Newfoundland (Slip, Gander North, Gander South, Victoria Lake, Baie Verte, and Hope Brook – Au Prospects)
  • Atikokan, Ontario (BlackFly – Au Prospect)
  • Elliot Lake, Ontario (East Bull – Ni-Cu-PGE Prospect)
  • Quebec (Duhamel –Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium Prospect)
  • Prince George, British Columbia (Wicheeda North – Rare Earth Elements Prospect)

The Company’s website is: https://marveldiscovery.ca/

ON BEHALF OF THE BOARD

Marvel Discovery Corp.

“Karim Rayani”

Karim Rayani

President/Chief Executive Officer, Director

Tel: (604) 716-1036 email: k@r7.capital

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met.  Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by lawNeither 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.