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Boreal Gold Options the North Star Group High Grade Gold Properties in the Snow Lake Area and the Jewel Box Gold Claim Located East of Flin Flon
Flin Flon, Manitoba--(Newsfile Corp. - April 17, 2025) - Boreal Gold Inc (CSE: BGLD) (the "Company") announces that the Company has entered into an option agree
About this update from Boreal Gold Inc.
[{"type":"text","content":" Flin Flon, Manitoba--(Newsfile Corp. - April 17, 2025) - Boreal Gold Inc (CSE: BGLD) (the \"Company\") announces that the Company has entered into an option agreement (the \"Agreement\" and/or the \"Option\") with Voyageur Mineral Explorers Corp. (\"VOY\" or the \"Optionor\"), whereby the Company may acquire a 100-per-cent interest in VOY's North Star Group property, consisting of 2922 Ha in 21 contiguous claims and two mining leases, located 50 kilometres west of Snow Lake Manitoba, as well as the Jewel Box claim located 30 km east of Flin Flon (collectively, the \"Property\"). The terms of the Agreement include the following conditions: Issuing 500,000 common shares on signing the Option and 500,000 common shares on the first anniversary of the Option for a total of 1,000,000 common shares of the Company, subject to final approval of the Canadian Securities Exchange (the \"CSE\"); Complete exploration expenditures aggregating $350,000 on or before the third anniversary of the effective date; Annual cash payments totaling $50,000 over the four years, including $10,000 received on signing the Option; For the duration of the Agreement and after the Company exercises its option to purchase the Property, the Company will pay the Optionor a Net Smelter Return Royalty (\"NSR Royalty\") equals to a 1.5% aggregate of Net Smelter Returns as described in, and determined pursuant to, the Agreement with 0.5% which can be purchased for $500,000. The Property represents a strategic growth opportunity for the Company. We look forward to further advancing exploration efforts and unlocking the full value of this asset for our shareholders. Boreal Gold Inc. is also pleased to welcome Voyageur Mineral Explorers Corp. as a shareholder. The Property consist of three contiguous properties which are: the North Star Gold Property; the Gold Rock Mining Lease and the Sewell Lake Critical Metals Property which is contiguous with HudBay Minerals Rail Zone Copper Deposit to the south and the former Dickstone Copper Zinc Mine to the North. The North Star and Gold Rock properties host a series of deposits along the same 2.5 km long structure. The North Star near the south end of the shear is roughly 2 to 4 meters wide with a grade averaging from face sampling around 0.29 oz gold/ tonne. The Gold Rock at the north end of the shear consists presently of at le...