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Canstar Files Technical Report and Obtains Exchange Approval for Option Agreement on the Golden Baie Project
(TheNewswire) Toronto, Ontario - TheNewswire - November 6, 2020 -...
About this update from Canstar Resources Inc.
[{"type":"text","content":"Canstar Files Technical Report and Obtains Exchange Approval for Option Agreement on the Golden Baie Project\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n Toronto, Ontario -\n \n \n TheNewswire\n \n \n - November 6, 2020 -\nCANSTAR RESOURCES INC. (TSXV:ROX)\n \n \n (OTC:CSRNF)\n \n \n (\"\n \n \n Canstar\n \n \n \" or the\n\"\n \n \n Company\n \n \n \")\n \n \n announces that it has filed a\nNational Instrument 43-101 Standards of Disclosure for Mineral\nProjects (\"\n \n \n NI\n43-101\n \n \n \") technical report entitled \"NI\n43-101 Technical Report on the Golden Baie Project, Newfoundland,\nCanada\", with an effective date of October 13, 2020 (the\n\"\n \n \n Technical\nReport\n \n \n \"). The Technical Report was prepared\nby David T.W. Evans, M.Sc., P.Geo., a \"Qualified Person\" as\ndefined by NI 43-101.\n \n \n \n \n The Technical Report is available under the Company's\nSEDAR profile at\n \n \n \n http://www.sedar.com\n \n \n \n and on the Company's website at\n \n \n \n www.canstarresources.com\n \n \n \n .\n \n \n \n \n The Company is also pleased to announce that it has\nreceived TSX Venture Exchange (the \"\n \n \n Exchange\n \n \n \")\napproval for the closing of the option agreement (the\n\"\n \n \n Option\nAgreement\n \n \n \") entered into with\n \n \n Altius Resources Inc. (\"\n \n \n Altius\n \n \n \"), a\nwholly owned subsidiary of Altius Minerals Corporation (TSX: ALS), and\nother arm's length parties,\n \n \n as announced by news\nrelease on August 26, 2020. Details of the Option Agreement are\nprovided below and the Company expects closing to take place in the\nnext week.\n \n \n \n \n Golden Baie Project Option\nTerms\n \n \n \n \n The Company has entered into a definitive agreement\nwith Altius, Corwin Northcott, and Colin Kendell (collectively the\n\"\n \n \n Optionors\n \n \n \") that grants to the Company the exclusive right and\noption (the \"\n \n \n Option\n \n \n \") to acquire, subject to retention\nby the Optionors of certain rights related to a 2% net smelter return\n(\"\n \n \n NSR\n \n \n \") royalty, a 100% interest in mineral claims in the\nBaie d'Espoir region of Newfoundland (the \"\n \n \n Golden Baie Claims\n \n \n \").\n \n \n \n \n Under the Option Agreement, Canstar can earn a 100%\nundivided interest in the Golden Baie Claims over a four year period\nas follows:\n \n \n \...