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EGR Exploration Agrees to Option Out the Urban Barry Gold Property, Quebec
(TheNewswire) Vancouver, BC - TheNewswire - December 19, 2023 - EGR Exploration...
About this update from Egr Exploration Ltd
[{"type":"text","content":"EGR Exploration Agrees to Option Out the Urban Barry Gold Property, Quebec\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, BC -\n \n \n TheNewswire -\n \n \n December 19, 2023\n \n -\n \n EGR Exploration Ltd.\n \n \n (TSX-V:EGR)\n \n (“\n \n EGR\n \n ” or the “\n \n Company\n \n ”) is pleased to announce\nthat it has entered into an option agreement to sell (the \"Option\nAgreement\") the Urban Barry Gold Property in Quebec to Harvest\nGold Corp. (TSXV: HVG) (“Harvest Gold”). The transaction is\npending TSX Venture Exchange (the “TSXV”) approval.\n \n \n \n Highlights of the Agreement\n \n \n \n \n \n Option and Sale of 122 claims and 6,879 ha, Urban Barry Gold Property\nlocated in Urban Barry/Windfall area Quebec.\n \n \n \n \n EGR will receive a total of $90,000 cash, 1,750,000 common shares of\nHarvest Gold, and a 2.0% NSR Royalty.  Harvest Gold is also required\nto spend a minimum of $300,000 in exploration expenditures in the\nfirst two years.\n \n \n \n \n EGR will receive an additional 1 million common shares upon Harvest\nGold announcing a 43-101 compliant resource estimate of 1 million\nounces of gold in the inferred category.\n \n \n \n \n Value creation for EGR shareholders with discovery potential in a\nQuebec focused exploration company.\n \n \n \n \n \n CEO Comments\n \n \n \n Daniel Rodriguez, CEO and Director of EGR comments, “This is an\naccretive transaction for our shareholders. We now are shareholder in\nHarvest Gold, a Quebec focused gold exploration company that will move\nthe Urban Barry property forward. This mining district is heating up\nwith recent transactions, led by the 50/50 JV of Osisko’ s Windfall\nproperty with Gold Fields Limited and infrastructure announcements\nwith Hydro-Quebec. Harvest Gold, whose management team is motivated,\nexperienced, and very strong technically, is more than capable of\nmaking a new discovery in the Abitibi region.  We look forward to\ntheir success with both their Quebec acquisitions.”\n \n \n \n About Urban Barry Property\n \n \n \n The Urban Barry property is in the Ralleau and Wilson townships of the\nJames Bay region of Quebec in the Abitibi Greenstone Belt, which is\nhost to the Windfall gold deposit that holds nearly 4 million ounces\nof go...