Reunion Gold Announces Exercise of Options to Acquire the Oko West Project In Guyana
February 24 2023 - 1:23PM
Reunion Gold Corporation (TSXV: RGD; OTCQB: RGDFF) (the “Company”)
is pleased to announce that it has exercised the two options to
acquire all of the rights to its Oko West Project that were
originally held by two local miners, for no additional
consideration. Reunion Gold is now the 100% registered and
beneficial owner of the Oko West Project and Prospecting Licence.
As stated in the Company’s February 13, 2023
news release, the Oko West Project was excluded from the Alliance
by Barrick Gold Corporation (“Barrick”) in January 2020. Barrick
transferred back to the Company all of its rights in Oko West under
a transfer agreement and has no back-in rights on Oko West.
The Company, having met all the conditions under
the two agreements with the local miners, including satisfying all
annual option payments, has now exercised the two options. In
accordance with one of the option agreements, the optionor will be
entitled to receive a contingent consideration of US$5.00 per ounce
of gold to be produced from his former permits area (representing
approximately 86.5% of the Oko West Project licence area).
The Oko West Project comprises one Prospecting
License issued to Reunion Gold Inc., the Company’s 100%-owned
Guyanese subsidiary, on September 23, 2022. The licence is valid
for an initial period of three years and has a surface area of
approximately 10,890 acres.
Neither the TSX Venture
Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accept responsibility for the adequacy or accuracy of this press
release.
About Reunion Gold
Corporation
Reunion Gold Corporation is a leading gold
explorer in the Guiana Shield, South America. In 2021 the Company
made an exciting new gold discovery at its Oko West project in
Guyana, where to date, it has outlined continuous gold
mineralization at the Kairuni zone over 2,000 meters of strike and
to a depth of 575 meters. In addition to Kairuni, there are several
additional priority exploration targets in the Oko West project
area. The Company’s common shares are listed on the TSX Venture
Exchange under the symbol ‘RGD’ and trade on the OTCQB under the
symbol ‘RGDFF’.
Additional information about the Company is
available on SEDAR (www.sedar.com) and the Company’s website
(www.reuniongold.com).
For further information, please contact:
REUNION GOLD CORPORATION Rick Howes, President,
CEO and DirectorDoug Flegg, Business Development AdvisorEmail:
doug_flegg@reuniongold.comor: info@reuniongold.comTelephone: +1
450.677.2585
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