Business
Golden Sky Minerals Expands the Rayfield Copper-Gold Property Through Staking and Option/Purchase Agreements, south-central British Columbia
VANCOUVER, British Columbia, June 17, 2022 (GLOBE NEWSWIRE) -- Golden Sky Minerals Corp. (AUEN.V) (the “Company” or “Golden Sky”) is pleased to announce that, t
About this update from Golden Sky Minerals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, June 17, 2022 (GLOBE NEWSWIRE) -- Golden Sky Minerals Corp. (AUEN.V) (the “Company” or “Golden Sky”) is pleased to announce that, through staking and property purchases, the Company has expanded the ~11,000-hectare Rayfield Copper-Gold Property in southern British Columbia, Canada, to ~24,992-hectares. With the optioning of the ~8,100-hectare Vidette-Mowich (VM) Property, the purchase of the ~20-hectare Them-Gold (TG) Property and the staking of an additional ~5,900-hectares, Golden Sky has further consolidated its position in the area. The Vidette-Mowich Property is located to the south and southeast of the 2021 Rayfield Property limits, which will be 100% owned by Golden Sky with no underlying royalties once the option agreement is complete. The Them-Gold Property is located adjacent to newly staked ground and is 100% owned by Golden Sky with no underlying royalties as the purchase agreement is already complete (see “Transaction Details”) (Figure 1). The Rayfield Project is located in the Quesnel Trough, British Columbia’s primary copper-producing belt, which hosts Teck Resources’ Highland Valley Mine, Imperial Metals’ Mount Polley Mine, Centerra Gold’s Mount Milligan Mine, and Kodiak Copper’s MPD Project (see Figure 2). The Rayfield Copper-Gold Project is located approximately 20 kilometers east of the Town of 70 Mile House, British Columbia, and is accessible year-round by well-maintained service and logging roads extending from BC Highway 97. Transaction Details Golden Sky has entered into a property option agreement to acquire a 100% interest in the Vidette-Mowich Property, subject to the approval of the TSX-Venture Exchange and other customary conditions. The terms consist of: (a) The Optionee paying an aggregate of $120,000 to the Optionor as follows: a) $20,000 upon receipt of Exchange approval for the proposed transaction; b) a further $25,000 on or before the 31st of December 2024; c) a further $35,000 on or before the 31st of December 2025; and d) a further $40,000 on or before the 31st of December 2026; (b) The Optionee issuing an aggregate 240,000 Shares ...