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Goldshore Resources Announces Option Agreement to Earn in to Iris Lake & Vanguard Properties Held by White Metal Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - July 7, 2022) - Goldshore Resources Inc. (TSXV...
About this update from Gold X2 Mining Inc.
[{"type":"text","content":"Goldshore Resources Announces Option Agreement to Earn in to Iris Lake & Vanguard Properties Held by White Metal Resources Corp.Vancouver, British Columbia--(Newsfile Corp. - July 7, 2022) - Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (\"Goldshore\" or the \"Company\"), is pleased to announce it has executed an option agreement (the \"Option Agreement\") with White Metal Resource Corp. (\"White Metal\") to earn in to certain mining claims held by White Metal in the Shebandowan greenstone belt known as the Iris Lake and Vanguard properties (the \"Property\" or \"Properties\").Key Terms of the Option AgreementTotal cash payments (CAD$) of an aggregate of $110,000 to White Metal over 3 years, to be paid as follows:$10,000 within five days of July 6, 2022 (the \"Effective Date\");an additional $20,000 on or before the 12-month anniversary of the Effective Date; an additional $30,000 on or before the 24-month anniversary of the Effective Date; andan additional $50,000 on or before the 36-month anniversary of the Effective Date;Total share issuance of an aggregate of 1,500,000 common shares of the Company (each, a \"Share\") (such Shares to be subject to resale restrictions) as follows:300,000 Shares within five days of the Effective Date; an additional 300,000 Shares on or before the 12-month anniversary of the Effective Date; an additional 400,000 Shares on or before the 24-month anniversary of the Effective date; andan additional 500,000 Shares on or before the 36-month anniversary of the Effective Date; Total incurred expenditures on the Property of not less than $1,650,000 over 3 years as follows: $100,000 on or before the six-month anniversary of the Effective Date; an additional $200,000 on or before the 12-month anniversary of the Effective Date; an additional $600,000 on or before the 24-month anniversary of the Effective Date; andan additional $750,000 on or before the 36-month anniversary of the Effective Date.Other non-material administrative and technical matters guiding the earn in relationship between the Company and White Metal.President and CEO, Brett Richards, stated: \"We are excited to add on this land package through the Option Agreement with White Metal. As illustrated in Figure 1.0, the Properties are adjacent to our north-eastern property claims in the Coldstream and Iris Lake area. As we h...