TSX.V: FKM
OTCQB: FKMCF
Frankfurt: F7E1
ROUYN-NORANDA, QC, May 26, 2022
/CNW Telbec/ - Fokus Mining Corporation ("Fokus" or the
"Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) is pleased
to announce that it has entered into an agreement to purchase a 1%
net smelter return royalty on 16 mining claims comprising the Lake
Fortune West portion of its Galloway project (the "NSR") from
Golden Share Resources (TSXV: GSH) ("Golden Share" or the "Vendor"). The
Company will be acquiring the NSR for a total consideration
consisting of a cash payment of $25,000 and the issuance of 50,000 common shares
of the Company to the Vendor. The acquisition of the NSR is subject
to regulatory approval, including that of the TSX Venture
Exchange.
About Fokus
Fokus Mining Corporation is a mineral resource company actively
acquiring and exploring precious metal deposits located in the
province of Québec, Canada. In
implementing this major undertaking within the Canadian mining
industry, we are determined to unlock the secret of the
Galloway gold project.
The Galloway project covers an
area of 2865.54 hectares and is located just north of the
Cadillac-Larder Lake deformation
which extends laterally for more than 100 km. Numerous gold
deposits are related to that structure and its subsidiaries. The
current work focuses on a small western portion of the mineral
claims where several mineral occurrences have been identified. For
more information, visit our website: fokusmining.com.
About Golden Share
Golden Share is a natural
resource company exploring in Ontario,
Canada. Golden Share plans to
commence drilling the best primary targets of the Ogoki Project for
diamonds, and the Kagiami Project for base metals, mainly copper
and nickel, key materials for clean energy development. The
carefully developed drilling program, which could potentially lead
to exciting discoveries, provides the possibly best rewards for
exploration dollars in a short term.
The TSX Venture Exchange and its Regulation Services Provider
(as that term is defined in the TSX Venture Exchange Policies) do
not accept any responsibility for the truth or accuracy of its
content.
Related Links
http://fokusmining.com/
Caution Regarding Forward-Looking
Statements
This news release contains statements that may constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information may
include, among others, statements regarding the future plans,
costs, objectives or performance of Fokus, or the assumptions
underlying any of the foregoing. In this news release, words such
as "may", "would", "could", "will", "likely", "believe", "expect",
"anticipate", "intend", "plan", "estimate" and similar words and
the negative form thereof are used to identify forward-looking
statements. Forward-looking statements should not be read as
guarantees of future performance or results, and will not
necessarily be accurate indications of whether, or the times at or
by which, such future performance will be achieved. No assurance
can be given that any events anticipated by the forward-looking
information will transpire or occur, including the closing of and
the timing for the acquisition of the NSR from the Vendor;
obtaining the regulatory approvals, including that of the TSX
Venture Exchange, for the acquisition of the NSR; that no
exploration work will be conducted on the mining claims subject to
the NSR in the next year; and the development of the Lake Fortune
West portion of the Galloway Project. Forward-looking information
is based on information available at the time and/or management's
good-faith belief with respect to future events and are subject to
known or unknown risks, uncertainties, assumptions and other
unpredictable factors, many of which are beyond Fokus's control.
These risks, uncertainties and assumptions include, but are not
limited to, those described under "Financial Risk Management
Objectives and Policies" and "Risks and Uncertainties" in Fokus's
Annual Report for the fiscal year ended December 31, 2021, a copy of which is available
on SEDAR at www.sedar.com, and could cause actual events or results
to differ materially from those projected in any forward-looking
statements. Fokus does not intend, nor does Fokus undertake any
obligation, to update or revise any forward-looking information
contained in this news release to reflect subsequent information,
events or circumstances or otherwise, except if required by
applicable laws.
SOURCE Fokus Mining Corporation