Business
Golden Rapture Mining and Mine CA Gold Enter into a Multi-million Dollar Earn-In and Joint Venture Agreement
Edmonton, Alberta--(Newsfile Corp. - August 11, 2025) - Golden Rapture Mining Corporation (CSE: GLDR) ("Golden Rapture" or the "Company") announces that it has
About this update from Golden Rapture Mining Corporation
[{"type":"text","content":" Edmonton, Alberta--(Newsfile Corp. - August 11, 2025) - Golden Rapture Mining Corporation (CSE: GLDR) (\"Golden Rapture\" or the \"Company\") announces that it has granted Mine CA Gold Ltd an option to acquire up to a 75% undivided interest in the mining claims known as the Phillips Township Gold Project, Ontario. The Option was granted under an earn-in and joint venture agreement signed by both parties on July 30, 2025. Under the terms of the Agreement, Mine CA Gold Ltd will now be the operator and can earn up to a 75% interest in the Phillips Township Gold Project by making certain cash payments and issuing shares to Golden Rapture, plus funding expenditures as follows: Exercise of Option The Optionor (Golden Rapture Mining) hereby irrevocably grants to the Optionee (Mine CA Gold Ltd) exclusive rights and options to acquire undivided legal and beneficial interests as follows: (a) an undivided fifty-one percent (51%) interest in and to the Property (the \"First Option\"); and (b) an additional undivided twenty-four (24%) interest in and to the Property in addition to the undivided fifty-one percent (51%) interest that may be acquired under the First Options (the \"Second Option\"). The Optionee (Mine CA Gold Ltd) may exercise: (a)The First Option by: 1. Making an initial cash payment of ($50,000) payable to Golden Rapture on or before 30th September 2025. 2. Incurring exploration expenditures of ($500,000) on the property in the first year and another ($500,000) in the second year. 3. Issue one million (1,000,000) shares immediately to Golden Rapture. These shares will be on hold for 12 months from the effective date of this initial agreement. 4. Issue another one million (1,000,000) shares 12 months after the effective date of this agreement. These shares will have a 6-month hold period starting at the issue date. 5. Make a payment of ($500,000) to Golden Rapture on or before the first anniversary of the Effective Date; and 6. In addition of the above amount, make an additional payment of ($500,000) to Golden Rapture on or before the second anniversary of the Effective Date. (b) The Second Option by: 1. Incurring additional cumulative expenditures of ($1,500,000) on the Property in accordance with the following schedule (the \"Second Option Deadline\") 2. Pay Golden Rapture ($500,000) on or before the third anniversary o...