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CopAur Minerals Inc. Exercises Option to Acquire 79.99% of the Kinsley Mountain Gold Project In Nevada
Vancouver, British Columbia--(Newsfile Corp. - May 18, 2022) - CopAur Minerals Inc. (TSXV: CPA...
About this update from Copaur Minerals Inc.
[{"type":"text","content":"CopAur Minerals Inc. Exercises Option to Acquire 79.99% of the Kinsley Mountain Gold Project In NevadaVancouver, British Columbia--(Newsfile Corp. - May 18, 2022) - CopAur Minerals Inc. (TSXV: CPAU) (OTCQB: COPAF) (\"CopAur\" or the \"Company\") is pleased to announce that it has made the final option payments to acquire Liberty Gold Corp.'s 79.99% interest in Kinsley Gold LLC, (the \"JVCO\"), a limited liability company holding ownership and leasehold rights in and to 513 unpatented claims and 5 leased patented claims, covering 4,187 hectares, known as the \"Kinsley Mountain Project\", located in southeast Elko County, Nevada. Nevada Sunrise Gold Corporation (through its subsidiary Intor Resources Corporation) holds the remaining 20.01% interest in JVCO. The final payments aggregate US$2.5M to Liberty Gold comprised of US$1,250,000 in cash and US$1.25M in CopAur common shares totaling 2,126,451 common shares. Liberty Gold retains a 1% NSR royalty (the \"Kinsley Royalty\") on 79.99% of all proceeds received by JVCO from the production and sale of all products produced from the Kinsley Project. The Company has an option to purchase 50% of the Kinsley Royalty from Liberty Gold upon payment of US$500,000 in cash. Jeremy Yaseniuk, Chief Executive Officer commented, \"I find it remarkable that we had the opportunity to acquire the Kinsley asset which hosts a significant gold resource including indicated resources of 418,000 ounces of gold grading 2.63 g/t Au (4.95 million tonnes) and inferred resources containing 117,000 ounces of gold averaging 1.51 g/t Au (2.44 million tonnes) in one of the world's most prolific mining jurisdictions. Despite these significant gold resources, much of the property remains untested by drilling. Our management and technical team look forward to exploring the property and demonstrating the significant potential for new discoveries and expansion of the existing resource base.\"About CopAur Minerals Inc.CopAur is a Canadian exploration company focused on advancing its combined portfolio of gold and gold-copper projects located in British Columbia and Nevada. Backed by a dynamic and experienced team of resource sector professionals, including members of Benchmark Metals Inc. and Thesis Gold inc. on its advisory board. CopAur recently completed a plan of arrangement to acquire all of the issued and outstand...