Business
Gold Hunter Resources Completes Consolidation of Large Gold District
Vancouver, British Columbia--(Newsfile Corp. - June 11, 2024) - GOLD HUNTER RESOURCES INC. (CSE: HUNT) (OTC Pink: GHREF) (the "Company" or "Gold Hunter"), a Can
About this update from Gold Hunter Resources, Inc.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - June 11, 2024) - GOLD HUNTER RESOURCES INC. (CSE: HUNT) (OTC Pink: GHREF) (the \"Company\" or \"Gold Hunter\"), a Canadian exploration company focused on the acquisition, exploration, and development of precious & base metal projects, is pleased to announce that it has completed the acquisition of an option (the \"Option\") to earn a 100% undivided interest in the Great Northern and Viking Projects (the \"Projects\"), located in the province of Newfoundland and Labrador, pursuant to the previously announced option agreement with Magna Terra Minerals Inc. (\"Magna Terra\") (TSXV: MTT) (OTC Pink: BRIOF), dated May 28th, 2024, as amended on June 10th, 2024 (the \"Option Agreement\"). MAP: Gold Hunter's Consolidated Gold District, Including Magna Terra's Great Northern & Viking Projects and Additional Land Packages Pursuant to the Option Agreement, Gold Hunter acquired the Option by issuing 7,042,253 common shares (each, a \"Share\") in the capital of the Company at a deemed price per Share of $0.142 and making a cash payment of $300,000 to Magna Terra. The Option expires on June 10th, 2026 and the next payment deadline to maintain the Option in good standing is June 10th, 2025, at which time Gold Hunter will need to issue Shares with an aggregate value of $2,750,000 and make a cash payment of $450,000 to Magna Terra. The amendment entered into on June 10th, 2024 clarified that the calculation of the deemed price per Share of the first issuance would be adjusted to exclude trading days before May 2nd, 2024. The Projects will remain subject to certain existing royalties on the licenses that comprise the property. Concurrently with acquiring the Option, Gold Hunter is excited to announce that it has completed the previously announced acquisition of 195 additional mineral claims surrounding and adjoining the Projects through a series of mineral property purchase agreements (collectively, the \"Property Purchase Agreements\") with four different vendors, being Sorrento Resources Ltd. (CSE: SRS) (OTCQB: SRSLF), Neal Blackmore, Stephen Keats, and Darrin Hicks. For full particulars regarding each of the property purchase agreements, please refer to Gold Hunter's news release dated May 29th, 2024. Gold Hunter is also pleased to announce that it has completed the acquisition of Lon...