Stone Gold Acquires Mineral Claims in Red Lake, Ontario
January 14 2021 - 7:30AM
Stone Gold Inc. (
TSX-V: STG) ("
Stone
Gold" or the "
Company") is pleased to
announce that it has entered into an asset purchase agreement (the
“
Agreement”) with EMX Royalty Corporation
(“
EMX”), pursuant to which the Company will
acquire certain mineral claims in Red Lake, ON (the
“
Claims”) from EMX.
Under the terms of the Agreement, EMX will
receive a cash payment of $10,000, the grant of a 1.5% net smelter
royalty on the Claims and will be issued 30,000 common shares
of Stone Gold (“Common Shares”) at closing in
exchange for 100% ownership the Claims.
The claims, which are approximately 100
hectares, cover the extension of the Golden Arm ultramafics and the
Newman Todd structure where they intersect the contact of the
Killala Baird batholith. The mafic/ultramafic contacts and the
structural corridors are prime targets to host gold mineralization
similar to the Campbell Red Lake Style mineralization and NT Zone
Style Mineralization, as identified on the West Red Lake and
Trillium Gold Mines to the north.
The acquisition of the Properties is subject to
approval of the TSX Venture Exchange and the Common Shares issuable
in connection therewith will be subject to a statutory four month
and a day hold period.
For further information, please contact:Mr. John
TimmonsPresident & CEOStone Gold Inc.Cellular (416) 931
2243Email: jtimmons@stonegold.caWeb: www.stonegold.ca
Stone Gold Inc. is engaged in the acquisition,
exploration and evaluation of properties for the mining of precious
and base metals.
Caution Regarding Forward-Looking
InformationThis news release contains forward-looking
information that involves substantial known and unknown risks and
uncertainties, most of which are beyond the control of Stone Gold.
Forward-looking statements include estimates and statements that
describe Stone Gold's future plans, objectives or goals, including
words to the effect that Stone Gold or its management expects a
stated condition or result to occur. Forward-looking statements may
be identified by such terms as "believes", "anticipates",
"expects", "estimates", "may", "could", "would", "will", or "plan".
Since forward-looking statements are based on assumptions and
address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Although these statements
are based on information currently available to Stone Gold, Stone
Gold provides no assurance that actual results will meet
management's expectations. Risks, uncertainties and other factors
involved with forward-looking information could cause actual
events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Forward looking information in this news release
includes, but is not limited to, Stone Gold's objectives, goals or
future plans, statements, details of the exploration results,
potential mineralization, Stone Gold's portfolio, treasury,
management team and enhanced capital markets profile, the timing of
the Offering, the estimation of mineral resources, exploration and
mine development plans, timing of the commencement of operations
and estimates of market conditions. Factors that could cause
actual results to differ materially from such forward-looking
information include, but are not limited to, failure or inability
to complete the Offering, regulatory approval processes, failure to
identify mineral resources, delays in obtaining or failures to
obtain required governmental, regulatory, environmental or other
project approvals, political risks, inability to fulfill the duty
to accommodate First Nations and other indigenous peoples,
uncertainties relating to the availability and costs of financing
needed in the future, changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity prices, delays in the
development of projects, capital and operating costs varying
significantly from estimates and the other risks involved in the
mineral exploration and development industry, and those risks set
out in Stone Gold's public documents filed on SEDAR. Although Stone
Gold believes that the assumptions and factors used in preparing
the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. Stone Gold disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this news
release.
Stone Gold (TSXV:STG)
Historical Stock Chart
From Aug 2024 to Sep 2024
Stone Gold (TSXV:STG)
Historical Stock Chart
From Sep 2023 to Sep 2024