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Gold’n Futures Mineral Corp. Executes Option to Acquire Claims Contiguous With Its Brady Gold Property’s Reid Gold Zone in Newfoundland
VANCOUVER, British Columbia, May 25, 2021 (GLOBE NEWSWIRE) -- GOLD’N FUTURES MINERAL CORP. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (the "Company” or “Gold’n Future
About this update from Gold'n Futures Mineral Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, May 25, 2021 (GLOBE NEWSWIRE) -- GOLD’N FUTURES MINERAL CORP. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (the \"Company” or “Gold’n Futures”) is pleased to report it has entered into a definitive option agreement to acquire 34 mineral claims (the “Option”), covering 850 hectares (“ha”) (the “Claims”). The Claims all but surround the Company’s current Brady Gold Property and its Reid Gold Zone. Highlights of the Option: The consideration to be paid pursuant to the Option is entirely common share consideration with no cash payment; Upon full exercise of the Option, the Company will be transferred 100% title to the Claims, subject to a 2% royalty; The Option expands the Brady Gold Property by approximately 9-fold to 950 ha; The Claims protect about 4½ km of favorable gold-related regional structure, and; The Claims contain gold in soil anomalies and geophysical setting for gold mineralization. Stephen Wilkinson, President and CEO commented, “Gold’n Futures sees this Option as highly strategic and potentially very important to the ultimate advancement of our Brady gold project into production. We can confidently explore for the expansion of the Reid Gold Zone both along strike and to depth. Equally important, the Brady Gold Property gives our Company a significant beachhead in the vigorous and exciting exploration environment of Newfoundland.” Terms of the Option To exercise the Option, Gold’n Futures will issue, over the next three years, an aggregate of 3 million shares to the vendor. Upon completion of the share issuance, the vendor will hold a 2% Net Smelter Returns royalty. The assessment work required for 2021 to maintain the claims is $8,500 or $250/claim. The Brady Gold Project The Project is located 50 kilometres south of the town of Grand Falls – Windsor in central Newfoundland and is approximately 80 kilometres southwest of the New Found Gold Corp. – Queensway gold project. The Reid Gold Zone is the main area of exploration and mineralization. The Reid Gold Zone is classified as an intrusion-hosted style of gold mineralization. Several episodes of diamond drilling totaling 30 diamond drill holes and 6,350 metres of core have defined the zone over a strike length of 300 metres, a width of 250 metres and to a vertical depth of 225 metres and the zone is reportedly open along strike and to depth....