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Barsele Minerals Enters into Non-Binding Letter of Intent to Acquire Remaining 55% Interest in the Barsele Project from Agnico Eagle
VANCOUVER, BC, May 12, 2021 /CNW/ - Barsele Minerals Corp. – (TSXV: BME) (the "Company" or "Barsele") is pleased to announce that it has executed a non-binding
About this update from Goldsky Resources Corp.
[{"type":"text","content":" VANCOUVER, BC, May 12, 2021 /CNW/ - Barsele Minerals Corp. – (TSXV: BME) (the \"Company\" or \"Barsele\") is pleased to announce that it has executed a non-binding letter of intent (\"LOI\") with Agnico Eagle Mines Limited (\"Agnico Eagle\") to acquire Agnico Eagle's indirect 55% interest in the Barsele Project (the \"Proposed Transaction\"). The Company currently holds the remaining 45% interest in the Barsele Project and upon completion of the Proposed Transaction, would consolidate control of the Barsele Project. The completion of the Proposed Transaction will be governed by the terms of a definitive agreement to be entered into between Barsele and Agnico Eagle. Gary Cope, President, CEO and a director of the Company commented, \"The opportunity to acquire a 100% controlling interest in the Barsele Project represents a tremendous milestone for Barsele. We plan to significantly increase the drilling activity on the project with the goal of growing the current mineral resource estimates. We are excited to start a new chapter in the development of the Barsele Project and are thankful to our joint venture partner Agnico Eagle for the work we have completed together. We now look forward to having Agnico Eagle as our largest shareholder.\" Sean Boyd, Chief Executive Officer of Agnico Eagle commented, \"We see Barsele's consolidation of the Barsele Project as a positive outcome for all stakeholders. The monetization of our interest in the Barsele Project will allow Agnico Eagle to focus on the most advanced projects in our exploration and development pipeline, while retaining an interest in the Barsele Project as a significant equity investor and royalty holder. We wish Barsele success as they undertake the next phase of exploration at the project and are confident that they have the required skill set to continue to advance the project.\" Guy Gosselin, Senior Vice President, Exploration of Agnico Eagle added, \"Agnico Eagle's Swedish exploration team significantly increased the mineral resources and geological understanding of the project, while also building strong social acceptance of the project during this phase of exploration. I am proud and thankful for what our team has accomplished and look forward to closing the Proposed Transaction and watching Barsele's future success ...