Business
Eskay Mining Sells 5 Mining Claims to Skeena Resources
TORONTO, ON / ACCESSWIRE / July 10, 2023 / Eskay Mining Corp. ("Eskay" or the "Company") (TSXV:...
About this update from Eskay Mining Corp
[{"type":"text","content":"Eskay Mining Sells 5 Mining Claims to Skeena ResourcesTORONTO, ON / ACCESSWIRE / July 10, 2023 / Eskay Mining Corp. (\"Eskay\" or the \"Company\") (TSXV:ESK) (OTCQX:ESKYF) (Frankfurt:KN7)(WKN:A0YDPM) wishes to announce that it has sold 5 mining claims (the \"Claims\") in the Golden Triangle area of BC to Skeena Resources Limited (\"Skeena\") in consideration for aggregate cash payments of $4 million. The initial consideration of $2 million was paid to Eskay on closing, a further $1 million is payable on October 31, 2023 and the final $1 million payment is payable on December 31, 2023. Eskay retains a 2% net smelter returns royalty (the \"Royalty\") in the Claims. Skeena can purchase 50% of the Royalty at any time for $2 million. In addition, Eskay will not be required to pay any road use fees to Skeena for its use of the Eskay Creek Road for the five year period ending December 31, 2027, provided that its road use those years is consistent with its road use in 2022. Four of the Claims are north and west of the Skeena Eskay Creek Project and one of the Claims is adjacent to the west side of the Skeena Eskay Creek Project.The Company also wishes to announce that, further to its press release of May 18, 2023, the Eskay exploration team has been mobilized to the camp and is preparing for the 2023 exploration and drilling season at the Company's Consolidated Eskay Project, Golden Triangle, BC.About Eskay Mining Corp:Eskay Mining Corp (TSXV:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the \"Golden Triangle,\" 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this area comprised of 177 claims (52,600 hectares).All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR at www.sedar.com.For further information, please contact:Mac BalkamT: 416 907 4020President & Chief Executive OfficerE: [email protected] Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking Statements:...