Business
Belmont Resources Revises News Release Regarding Option Agreement on its Pathfinder Property
(TheNewswire) Vancouver, B.C. Canada – TheNewswire - November ...
About this update from Belmont Resources Inc.
[{"type":"text","content":"Belmont Resources Revises News Release Regarding Option Agreement on its Pathfinder Property\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, B.C. Canada –\n \n \n TheNewswire -\n \n \n November 26, 2021\n \n \n (TSX.V:BEA\n \n \n )\n \n \n ;\nFrankfurt: L3L2)\n \n \n - Further to the press release\nissued by\n \n \n Belmont Resources Inc.\n \n \n (the “Company”) dated August 31, 2021 whereby it was\nannounced of the entering into a Property Option Agreement with\nHighrock Resources Ltd. for the disposition of up to a 75% interest in\nthe Company Pathfinder gold-silver project in the Greenwood Mining\nDistrict, southeastern, BC. The Company advises that Gary Musil is a\ndirector and officer of the Company and Highrock Resources Ltd.\n Highrock Resources Ltd. is a private company.\n \n \n \n \n Under the terms of the disposition agreement, Highrock\nResources Ltd. may earn a 75% interest upon completion of the\nfollowing:\n \n \n \n \n \n \n Cash payments totaling $15,000 consisting of: (i)\n$5,000 upon signing of the option agreement (received); (ii) $10,000\nwithin one year;\n \n \n \n \n \n \n Issuance of an aggregate of 200,000 shares of Highrock\nas follows:  (i) 100,000 shares upon signing (received); and (ii)\n100,000 common shares on or before six months from the date of the\ninitial listing of the Highrock shares on the Canadian Securities\nExchange (“CSE”);\n \n \n \n \n \n \n \n \n Expenditures on the Pathfinder Property totaling\n$200,000 consisting of: (i) $75,000 on or before the first anniversary\nof signing the option agreement (completed); and (ii) $125,000 on or\nbefore the first anniversary of the date of the initial listing of the\nHighrock shares on the CSE.\n \n \n \n \n \n \n About the Pathfinder Property\n \n \n \n \n The Pathfinder property comprises 3 claims covering\n295.57 hectares and in the Greenwood Mining District and is surrounded\non three sides by KG Exploration Inc. (Exploration Division of Kinross\nGold). The Pathfinder property is part of the Belmont group of claims\n(see Project portfolio following) that they have been acquiring in the\nGreenwood Mining District since 2019.\n \n \n \n \n In 2019 the Company completed a sampling program than\nprovided gold values up to 29.2 grams per tonne (g/t) Au\n(quartz-sulphide vein material).  ...