Business
Antler Gold Adds Land to Namibian Erongo Project, Namibia
Halifax, Nova Scotia--(Newsfile Corp. - February 24, 2020) - Antler Gold Inc. (TSXV: ANTL) (" ...
About this update from Antler Gold, Inc.
[{"type":"text","content":"Antler Gold Adds Land to Namibian Erongo Project, NamibiaHalifax, Nova Scotia--(Newsfile Corp. - February 24, 2020) - Antler Gold Inc. (TSXV: ANTL) (\"Antler\") is pleased to announce that it has entered into an agreement to acquire 100% of a gold exploration license in Namibia (the \"Purchase Agreement\").The license is known as EPL 7261 which measures 159.12 square kilometers and is located within the Erongo region of central Namibia near the towns of Usakos, Karibib and Omaruru. This highly prospective area hosts the nearby Historical Onguati mine, the QKR Namibia Navachab Gold Mine as well as the Karibib Regional projects of Osino Resources. EPL 7271 is located adjacent to EPL 6162 (see Press Release dated September 10, 2019) and together provides Antler with approximately 11 kilometers of prospective strike length along the north-east trending Navachab and Onguati Members of the Karibib Formation. Pursuant to the Purchase Agreement, Antler may acquire a 100% interest in EPL 7261 by paying the vendor, who is an arm's length party, a cash payment of C$7,000, issuing 20,000 common shares of Antler and C$5,000 of common shares of Antler based on the 10-day volume weighted average price per common share immediately prior to the date of the Purchase Agreement. Antler must also spend C$75,000 worth of exploration expenses on or before February 23, 2021.The Purchase Agreement is subject to a 14-day due diligence period and is conditional upon TSX Venture Exchange approval.Antler is also pleased to announce that Antler Gold Namibia (Pty), Antler's wholly owned subsidiary, has been accepted as a member of the Namibian Chamber of Mines. This highly regarded organization has a mission to represent the mining industry's interests to the Namibian Government. Dan Whittaker, Antler's CEO stated, \"We're very happy to be a member of the Chamber and look forward to adding our efforts to their mission. Antler will also be attending the Honourable Tom Alweendo, Minister of Mines and Energy, Republic of Namibia's address at the 21st Annual African Mining Breakfast on March 3, 2020 at the PDAC Conference in Toronto.\"Cautionary StatementsThis press release may contain forward-looking information, such as statements regarding the completion of the transaction, including acquisition of EPL 7261 or any other EPLs in Namibia by Antler and future pla...