Commander and Fjordland Expand Land Holdings at South Voisey's Bay Nickel Project, Labrador and Begin Preparations for Initial Drill Test of Sandy Target

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[{"type":"text","content":"Commander and Fjordland Expand Land Holdings at South Voisey's Bay Nickel Project, Labrador and Begin Preparations for Initial Drill Test of Sandy TargetVancouver, British Columbia--(Newsfile Corp. - September 6, 2017) - Commander Resources Ltd. (TSXV: CMD) (\"Commander\")  and project partner Fjordland Exploration Inc. (\"Fjordland\") (TSXV: FEX) are pleased to announce that they have recently expanded the land position at their South Voisey's Bay Project (the \"SVB Property\") located in Labrador, Canada, to a total of 29,400 Ha (294 km 2) covering the majority of the of the Pants Lake Gabbro Complex. Furthermore the companies have initiated preparations to conduct an initial 1000m drill test of the Sandy Target beginning in mid-September. Fjordland currently owns a 15% interest in the property earned during an earlier agreement from 2014. Both companies have recently entered into a letter agreement (see press release dated June 5, 2017) allowing for Fjordland to acquire up to a 100% interest by paying Commander aggregate cash payments of $290,000 completing $8.0 million in exploration expenditures and issuing to Commander an aggregate of 4.5 million post consolidation shares as follows: - Filed by newsfilecorp.com Date for Completion Option Payment Fjordland Shares Exploration and DevelopmentExpenditures  Approval Date (complete) $ - 200,000 $ - October 31, 2017 (FEX Vests at 35%) - - $600,000 1st anniversary of Approval Date $ 10,000 250,000 - 2nd anniversary of Approval Date $ 15,000 300,000 - 3rd anniversary of Approval Date $ 25,000 350,000 - October 31, 2021 (FEX vests at 75%) $ 40,000 400,000 $ 2,400,000 October 31, 2024 (FEX vests at 100%) $200,000 3,000,000 $5,000,000 TOTAL $ 290,000 4,500,000 $ 8,000,000 Upon Fjordland acquiring a 100% interest in the project, Commander will retain a 2% NSR and Fjordland will have the right to buy down 50% of the Royalty for a payment of $5,000,000 as a cash payment, or a cash payment equal $2,500,000 plus the issuance of shares having a fair market value of 50% of the buy down amount. Commander will receive a $10,000,000 advance royalty payment at the commencement of commercial production.On August 28, 2017, Fjordland announced a non-binding agreement with High Power Exploration Inc. (\"HPX\") through which an affiliate of HPX would fund $1.4 million in project expenditure...

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