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GoldSpot Discoveries Signs Service Agreement with Yorkton Ventures & Acquires Option for NSR on Newfoundland Portfolio
Toronto, Ontario--(Newsfile Corp. - October 14, 2021) - GoldSpot Discoveries Corp. (TSXV...
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[{"type":"text","content":"GoldSpot Discoveries Signs Service Agreement with Yorkton Ventures & Acquires Option for NSR on Newfoundland PortfolioToronto, Ontario--(Newsfile Corp. - October 14, 2021) - GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) (\"GoldSpot\" or the \"Company\"), a leading technology services company leveraging machine learning to transform the mineral discovery process is pleased to announce it has been engaged by Yorkton Ventures Inc. (TSXV: YVI) (\"Yorkton\") to assist in the exploration of Yorkton's projects in Central Newfoundland. GoldSpot works with leading exploration and mining clients across all commodities and deposit types, using cutting-edge technology and geoscientific expertise to mitigate exploration risks and significantly increase the efficiency and success rate of mineral exploration across resources.Andrew Lee Smith, Chief Executive Officer of Yorkton, commented: \"We are pleased to engage the services of GoldSpot to assist in the exploration of our portfolio of gold exploration properties in Central Newfoundland. GoldSpot's proven success and proprietary, machine learning exploration techniques will greatly enhance our exploration efforts and further develop our geological model.\"GoldSpot Discoveries Executive Chairman and President Denis Laviolette stated: \"We are thrilled to leverage our strong foothold in Newfoundland and add Yorkton to our growing client roster,\" said GoldSpot Discoveries Executive Chairman and President Denis Laviolette. \"Our work so far in the province has yielded incredible success and we are confident that our leading team of geoscientists and data scientists will maximize the chances of discovery at Yorkton's Newfoundland properties using our proprietary machine learning technology.\"GoldSpot has also been granted an option to acquire a 0.5% net smelter return royalty (\"NSR\") on the following licenses in Newfoundland for $2.0 million:The Parkview Project (1,850 ha.)The Knights-Melange Project (950 ha.)The payment due on execution of the NSR options granted to GoldSpot will be paid to the original, registered owners of the properties that have been purchased by Yorkton and subject to the terms of the individual purchase agreements (see Yorkton Press Release, July 14, 2021). Andrew Lee Smith, P.Geo., C.E.O., a Qualified Person under the definitions of National Instrument 43-101,...