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Infield Minerals Announces Option Agreement for the Detroit Gold Property in Utah
VANCOUVER, BC / ACCESS Newswire / May 6, 2026 / Infield Minerals Corp. (TSXV:IN) (" Infield ...
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[{"type":"text","content":"Infield Minerals Announces Option Agreement for the Detroit Gold Property in UtahVANCOUVER, BC / ACCESS Newswire / May 6, 2026 / Infield Minerals Corp. (TSXV:IN) (\"Infield\" or the \"Company\") further to it's press release on February 19, 2026, is pleased to announce that it has entered into a property option agreement (the \"Option Agreement\") dated May 5, 2026, with Hawk Resources Limited (\"Hawk\"), an arm's length party, pursuant to which the Company has been granted the right to acquire 100% of Hawk's legal and beneficial ownership in an to the Detroit Property (the \"Option\"), which consists of a series of mineral claims located in the Drum Mountains region of western Utah, USA (the \"Detroit Property\").\"Reaching a definitive Option Agreement on the Detroit sediment-hosted gold property is an important milestone for the Company in building our portfolio of high potential assets in the State of Utah, where there is proven world-class mineral potential,\" stated Evandra Nakano, President and CEO of Infield.Option AgreementPursuant to the Option Agreement, the Company has the right to acquire Hawk's 100% interest in and to the Detroit Property, in consideration of a series of cash payments (and for which Infield may satisfy one-half of any of the cash payments by issuing the equivalent value of common shares in the capital of the Company, subject to certain restrictions described below (the \"Common Shares\")) as follows:$40,000 within five days of the effective date of the Option Agreement;$60,000 upon the first-year anniversary of the Option Agreement;$80,000 upon the second-year anniversary of the Option Agreement;$100,000 upon the third-year anniversary of the Option Agreement;$120,000 upon the fourth-year anniversary of the Option Agreement; and$150,000 upon the fifth-year anniversary of the Option Agreement (collectively the \"Option Payments\").Additionally, the following cash payments shall apply if the associated milestones set forth below are achieved, and Infield may satisfy up to one-half of any of such cash payments by issuing the equivalent value of Common Shares (collectively, the \"Milestone Payments\"), subject to certain restrictions described below:Hawk shall be entitled to a one-time payment equal to $1.25 for each ounce of gold identified the earlier of: (i) a Measured or Indicated mineral resource;...