Contact Gold Reports Q1 2023 Financial and Operating Results and Voting Results from Annual Meeting

About this update from Commodore Metals Corp.

[{"type":"text","content":"Contact Gold Reports Q1 2023 Financial and Operating Results and Voting Results from Annual Meeting\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, B.C. -\n \n \n TheNewswire -\n \n \n May 26, 2023 – Contact Gold Corp. (the\n\"Company\" or \"Contact Gold\") (TSXV:C\n \n \n )\n \n \n ;\n \n \n (\n \n \n OTC:CGOLF)\n \n \n is pleased\nto announce its financial and operating results for the three months\nended March 31, 2023, and to provide the results of the Company’s\nrecent Annual Meeting of Shareholders (the\n \n \n \"\n \n \n Meeting\n \n \n \"\n \n \n ).\n \n \n \n \n Contact Gold is focused on advancing the Green Springs\noxide gold project (\"Green Springs\") and the Pony Creek gold\nproject (\"Pony Creek\"), both of which host extensive and\nrobust Carlin Type gold systems.\n \n \n \n \n Green Springs is located on Nevada’s Cortez Trend, 7\nkm immediately east of the Gold Rock project operated by Calibre\nMining Corp. (TSX: CXB; OTCQX: CXBMF). Exploration at Green Springs is\nbeing funded through a partnership with a subsidiary of Centerra Gold\nInc. (\"Centerra\") pursuant to an earn-in arrangement (the\n\"Centerra Farm-out\").  Pony Creek is located on the\nsouthern Carlin Trend and ties on to the southern boundary of the\nfeasibility-stage South Railroad gold project operated by Orla Mining\nLtd. (TSX: OLA; NYSE: ORLA).\n \n \n \n \n Recent developments and Q1 2023\nhighlights\n \n \n \n \n \n \n \n \n Entered into the\nCenterra Farm-out providing Centerra the option to acquire a 70%\ninterest in Green Springs for cumulative earn-in exploration\nexpenditures of USD 10,000,000 and aggregate cash payments to the\nCompany of USD 1,000,000, over a four-year period.\n \n \n \n \n \n \n Centerra will fund a minimum commitment of USD\n1,500,000 in exploration expenditures during the first year of the\nearn-in, or pay the difference to Contact Gold in cash.\n \n \n \n \n \n \n Contact Gold is the project manager for exploration at\nGreen Springs for at least the first year of the Centerra Farm-out\n(thereafter Centerra has the right to be project manager), and the\nCompany shall collect a management fee based on eligible expenditures\nthrough the earn-in.\n \n \n \n \n \n \n \n \n Expanded the Green Springs p...

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