Mr.
The terms of the Agreement include:
Initial cash payments and cost reimbursements from Kinross totaling
A commitment to purchase up to 9.9% of the issued and outstanding shares of Gold79 on a partially diluted basis (for no greater than
Kinross will make ongoing lease payments of
Kinross is required to spend
During the term of the agreement, Kinross has the option to acquire 70% of the project for a cash payment of
The term of the Agreement is four years commencing from receipt of the pending drill permit, with a potential extension of up to two years, subject to certain conditions.
If an LLC is formed, in the event that either party is diluted below 10%, its interest converts to a 1% net smelter returns (NSR) royalty.
Mr.
Jefferson Canyon Permitting Update
The Company continues to work on permitting the
About
Contact:
President & CEO
Phone: 416-294-6713
Email: dm@gold79mines.com
Website: www.gold79mines.com.
FORWARD-LOOKING STATEMENTS:
This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including any strategic discussions, private placement financings, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company's future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR at www.sedar.com. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
(C) 2022 Electronic News Publishing, source