Business
Gold’n Futures Mineral Reports Signing a US$3.0 Million Stock Deal For 90% of Its Brady Gold Project in Newfoundland
VANCOUVER, British Columbia, Jan. 05, 2022 (GLOBE NEWSWIRE) -- Gold’n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (the "Company” or “Gold’n Futur
About this update from Gold'n Futures Mineral Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 05, 2022 (GLOBE NEWSWIRE) -- Gold’n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (the \"Company” or “Gold’n Futures”) is pleased to report that it has signed a purchase and sale agreement (the “Agreement”) with a wholly owned Canadian subsidiary of Beaver Gold Corp. (“Beaver Gold”) for the sale of 90% of the Company’s interest in the Brady Gold Project located in the Province of Newfoundland (the “Brady Property”). Beaver Gold is a Nevada-based company focused on the development of junior mining projects. In consideration for the purchase of the Brady Property interest, Beaver Gold shall issue to the Company such number of common shares of Beaver Gold as is equal to US$3.0 million divided by the price per share at which it closes its current non-brokered private placement financing. Subsequent to the financing, Beaver Gold intends on listing it’s common shares on the NASDAQ with a coincident initial public offering. “With the sale of an interest in the Brady Property, Gold’n Futures has secured two important assets - being a significant shareholding in Beaver Gold and a retained 10% interest in a developing the Brady Property. In addition, the US$3.0 million share consideration received for the Brady Property represents a material return on our investment in Newfoundland. It is our intent to harvest the value of the Beaver Gold shares and to utilize the proceeds for the continuing exploration and development of the Company’s Hercules gold project and for the working capital of the Company.” Commented, Stephen Wilkinson, President and CEO 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 Brady Property comprises two mining licenses, 031339M and 27408M that include 38 claims covering approximately 950 hectares. The Reid Gold Zone is the main area of exploration and mineralization within the Project. 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. The zone...