Business
Stuhini Exploration Ltd. Provides Corporate Update on Arizona and Manitoba Mineral Claims
Stuhini Exploration Ltd. Provides Corporate Update on Arizona and Manitoba Mineral Claims ...
About this update from Eranova Metals Inc.
[{"type":"text","content":"\n \n \n \n Stuhini Exploration Ltd. Provides Corporate Update on Arizona and Manitoba Mineral Claims\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 25, 2023\n \n \n /CNW/ - Stuhini Exploration Ltd. (the \"\n \n Company\n \n \" or \"\n \n Stuhini\n \n \") (TSXV: STU) (OTCPK: STXPF) is pleased to announce that it has entered into a purchase agreement with G.\n \n Mark Lindsay\n \n (the \"\n \n Purchase Agreement\n \n \") for the acquisition of strategic information and access to a proprietary database regarding mineral prospects in\n \n Arizona\n \n and\n \n Manitoba\n \n (\"\n \n Strategic Information\n \n \").\n \n \n \n \n \n \n \n \n \n The Strategic Information led to the Company's identification of four (4) mineral claims which it recently acquired in\n \n Arizona, USA\n \n (the \"\n \n Arizona Claims\n \n \").  As a result, in recognition of the Strategic Information's utility, the Company has agreed to compensate Mr. Lindsay.  Under the terms of the Purchase Agreement, Mr. Lindsay received an immediate cash payment of\n \n $35,000\n \n on signing and will receive additional cash payments on an annual basis in respect of each Arizona Claim on the anniversary of the signing date (provided the Company has not abandoned such claims prior thereto) until\n \n May 25, 2027\n \n .\n \n \n The Company has also granted to Mr. Lindsay a 1% net smelter returns royalty in respect of all ores and concentrates produced from the Arizona Claims upon achieving commercial production (the \"\n \n NSR Royalty\n \n \"), with an option to repurchase at any time one-half of the NSR Royalty on any of the 4 Arizona Claims (reducing the NSR Royalty to 0.5% on such Arizona Claim) for consideration of\n \n $1,000,000\n \n per Arizona Claim NSR repurchased.\n \n \n In addition to the Arizona Claims, the Strategic Information from G.\n \n Mark Lindsay\n \n also led to the Company identifying one (1) mineral claim which it acquired by staking in\n \n Manitoba\n \n ...