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Stone Gold Acquires Mineral Claims in Red Lake, Ontario
TORONTO, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Stone Gold Inc. (TSX-V: STG) ("Stone Gold" or the "Company") is pleased to announce that it has entered into an asset
About this update from Copper Road Resources Inc
[{"type":"text","content":" TORONTO, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Stone Gold Inc. (TSX-V: STG) (\"Stone Gold\" or the \"Company\") is pleased to announce that it has entered into an asset purchase agreement (the “Agreement”) with EMX Royalty Corporation (“EMX”), pursuant to which the Company will acquire certain mineral claims in Red Lake, ON (the “Claims”) from EMX. Under the terms of the Agreement, EMX will receive a cash payment of $10,000, the grant of a 1.5% net smelter royalty on the Claims and will be issued 30,000 common shares of Stone Gold (“Common Shares”) at closing in exchange for 100% ownership the Claims. The claims, which are approximately 100 hectares, cover the extension of the Golden Arm ultramafics and the Newman Todd structure where they intersect the contact of the Killala Baird batholith. The mafic/ultramafic contacts and the structural corridors are prime targets to host gold mineralization similar to the Campbell Red Lake Style mineralization and NT Zone Style Mineralization, as identified on the West Red Lake and Trillium Gold Mines to the north. The acquisition of the Properties is subject to approval of the TSX Venture Exchange and the Common Shares issuable in connection therewith will be subject to a statutory four month and a day hold period. For further information, please contact:Mr. John TimmonsPresident & CEOStone Gold Inc.Cellular (416) 931 2243Email: [email protected]: www.stonegold.ca Stone Gold Inc. is engaged in the acquisition, exploration and evaluation of properties for the mining of precious and base metals. Caution Regarding Forward-Looking Information This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Stone Gold. Forward-looking statements include estimates and statements that describe Stone Gold's future plans, objectives or goals, including words to the effect that Stone Gold or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as \"believes\", \"anticipates\", \"expects\", \"estimates\", \"may\", \"could\", \"would\", \"will\", or \"plan\". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertaint...