VANCOUVER, Jan. 30, 2019 /CNW/ - Pacton Gold Inc.
(TSXV: PAC, OTC: PACXF) (the "Company" or
"Pacton") is pleased to announce that it has entered into an
acquisition agreement with Frontline Gold Corporation (TSXV:
FGC) to acquire additional mineral claims in the Red Lake District, Ontario (the "Property"). The Property
is comprised of 88 mineral claims totaling 1,760 Ha.
Under the terms of the agreement, Pacton will purchase 100% of
the Property by issuing 192,310 common shares on receipt of TSX
Venture Exchange acceptance to the transaction. The Property is
subject to net smelter return royalties totaling 2.25%. The Company
has the option to buy back a portion of the royalties for
$250,000.
The transaction is subject to the acceptance of the TSX Venture
Exchange.
About Pacton Gold
Pacton Gold is a well-financed Canadian explorer with key
strategic partners focused on the exploration and development of
high grade conglomerate and orogenic gold properties located in the
district-scale Pilbara gold rush in Western Australia and the Red Lake District, Ontario.
The technical content of this news release has been reviewed and
approved by Peter Caldbick, P.Geo.,
a director of the Company and a Qualified Person pursuant to
National Instrument 43-101. The qualified person has not yet
verified the data disclosed, including sampling, analytical, and
test data underlying the information or opinions contained in the
written disclosure.
On Behalf of the Board of Pacton Gold Inc.
R. Dale Ginn
Executive Chairman
This news release may contain or refer to forward-looking
information based on current expectations, including, but not
limited to the Company achieving success in exploring its
properties and the impact on the Company of these events, including
the effect on its share price. Forward-looking information is
subject to significant risks and uncertainties, as actual results
may differ materially from forecasted results. Forward-looking
information is provided as of the date hereof and we assume no
responsibility to update or revise such information to reflect new
events or circumstances. References to other issuers with nearby
projects is for information purposes only and there are no
assurances the Company will achieve similar results.
Neither TSX Venture Exchange, the Toronto Stock Exchange nor
their 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.
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SOURCE Pacton Gold Inc.