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Aurion Signs Definitive Option Agreement with Kinross on the Launi East Property
Aurion Signs Definitive Option Agreement with Kinross on the Launi East Property Canada...
About this update from Kinross Gold Corporation
[{"type":"text","content":"\n \n \n \n Aurion Signs Definitive Option Agreement with Kinross on the Launi East Property\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n \n \n \n ST. JOHN'S NL\n \n \n ,\n \n \n Aug. 23, 2023\n \n \n /CNW/ -\n \n Aurion Resources Ltd.\n \n (TSXV: AU) (OTCQX: AIRRF)\n \n (\"Aurion\" or the \"Company\")\n \n announces that it has signed a formal definitive option agreement with Kinross Gold Corporation (TSX: K, NYSE: KGC); (\"Kinross\") granting\n \n Kinross\n \n the right to earn up to an undivided 70% interest in the 42.74 km\n \n 2\n \n , Launi East Property, which is located to the southeast and adjacent to the Company's 100%-owned Risti Property.\n \n \n Figures associated with this release can be found on the Company's website through the following link:\n \n https://aurionresources.com/site/assets/files/1508/nr23-18figures.pdf\n \n .\n \n \n Under the terms of the agreement,\n \n Kinross\n \n can earn a 70% undivided interest in the Launi East Property by incurring a minimum of\n \n USD$10,000,000\n \n in exploration expenditures on or before the seventh anniversary of the agreement dated\n \n August 21\n \n \n st\n \n , 2023. Subject to receiving all necessary permits for a drilling program,\n \n Kinross\n \n has agreed, as a firm obligation, to incur a minimum of\n \n USD$2,000,000\n \n in exploration expenditures on, or before the second anniversary of the agreement.\n \n \n Should Aurion's interest in the joint venture be diluted down to 10% or less, Aurion's interest will be converted to a 2% Net Smelter Return (NSR) Royalty on the property.\n \n Kinross\n \n may purchase one-half of the royalty to reduce the royalty to 1% of net smelter returns for\n \n USD$2,000,000\n \n .\n \n \n \"We are pleased to extend our excellent working relationship with\n \n Kinross\n \n and their first-class exploration team on the Launi East property,\" commented\n \n Matti Talikka\n \n , Aurion's CEO. \"The Company staked the Launi East Property in 2018 and has since completed a significant amount of surface, geophys...