Antler Gold Announces Cooperative Agreement with Sherpa Resource Holdings and Remote Exploration Services to Generate New Projects in Africa

About this update from Antler Gold, Inc.

[{"type":"text","content":"Antler Gold Announces Cooperative Agreement with Sherpa Resource Holdings and Remote Exploration Services to Generate New Projects in AfricaHalifax, Nova Scotia--(Newsfile Corp. - March 24, 2022) -  Antler Gold Inc. (TSXV: ANTL) (\"Antler\" or the \"Company\") is pleased to announce it has entered into an agreement (\"Agreement\") dated March 22, 2022 with Sherpa Resource Holdings Ltd (\"Sherpa\"), to form a new corporation (the \"Project Generator\") for the purposes of generating exploration opportunities and projects in Africa. Remote Exploration Services (Pty) Ltd (\"RES\") is also party to the Agreement as it has agreed to provide consulting services to the Project Generator on terms agreed to and set out in the Agreement. Both Sherpa and RES are arm's length parties to Antler.Under the Agreement, Antler and Sherpa agreed to jointly target, evaluate and advance new project opportunities in Africa. Projects generated from this initiative will be held by Project Generator to be established by Antler. Project Generator will be owned 87.5% by Antler, with the remaining 12.5% to be held by Sherpa. The majority of the Board of Directors of Project Generator will be appointed by Antler and the parties will enter into a shareholders' agreement to govern their respective rights as shareholders of Project Generator. Antler will be appointed as the manager with the overall responsibility to manage and carry out the mineral exploration operations of Project Generator.Antler and Sherpa have the right to purchase each other's interest in the Project Generator under specified terms and times. Sherpa may earn a further 2.5% interest at the project level if it is involved or technically responsible for making an economically significant discovery on a property held by Project Generator. The term of the Agreement is for an initial three year period and can be extended if mutually agreed. The Agreement has also been carefully drafted to preserve RES client confidentiality and to avoid conflicts of interest.Targeted commodities for generative properties to be held in Project Generator will include primarily rare earth elements, green metals and gold. Antler is currently assessing several opportunities to be included in Project Generator.Daniel Whittaker, President and CEO of Antler commented, \"We are excited to enter into this Agreement ...

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