Business
General Copper Gold Corp. Enters into Option Agreement to Acquire Interest in Exploration License and Property and Announces Proposed Financing
Vancouver, British Columbia--(Newsfile Corp. - May 5, 2026) - General Copper Gold Corp. (CSE: GGLD) (the "Company") is pleased to announce that it has entered
About this update from General Copper Gold Corp
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - May 5, 2026) - General Copper Gold Corp. (CSE: GGLD) (the \"Company\") is pleased to announce that it has entered into an option agreement dated May 4, 2026 (the \"Agreement\") with Frantier Mining Namibia (Proprietary) Limited, a private arm's length company organized under the laws of Namibia (the \"Optionor\") pursuant to which the Company has been granted the sole, exclusive and irrevocable option to acquire an eighty percent (80%) undivided interest in an application for an exclusive prospecting license (the \"License\") covering approximately 48,500 hectares of land situated in Namibia (the \"Property\"). The License for the Property is located in central-north Namibia's Otjozondjupa Region in the eastern part of the Northern Zone of the Damara Mobile Belt. This location is economically significant, as the Damara Mobile Belt hosts current major economic deposits of tin, uranium (both primary and secondary), gold and base metals. The Property is located within the Otjozondjupa Region between the towns of Otjiwarongo to the south and Otavi to the north, and is close to the two mining operations, Okoruso (Fluorspar) and Otjikoto (Gold). It has a very good infrastructure, being on the main highway into southern Africa, served by the national railway line running parallel to the highway, and adequate power supplies serving the local towns and established mining operations.In order to maintain the Agreement in good standing, the Agreement provides that the Company must, upon completion of normal and reasonable due diligence (and receipt of all necessary regulatory and third party approvals, including the Canadian Securities Exchange (\"CSE\") and any securities commission having jurisdiction over the Company, as applicable): (i) on the closing date, the Company shall make a cash payment to the Optionor in the amount of US$60,000; (ii) the Company shall expend, during the first year from the closing date, a minimum of US$150,000 in exploration expenditures on the Property in order to earn an initial forty percent (40%) interest in the License and the Property; and (iii) the Company shall expend, during the second year from the closing date, a minimum of US$300,000 in exploration expenditures on the Property in order to earn an additional forty percent (40%) interest in the ...