Business
Klondike Gold Sells BC Properties to Ximen Mining
VANCOUVER, BC / ACCESSWIRE / February 20, 2020 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OT...
About this update from Klondike Gold Corp.
[{"type":"text","content":"Klondike Gold Sells BC Properties to Ximen MiningVANCOUVER, BC / ACCESSWIRE / February 20, 2020 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTC:KDKGF) (\"Klondike Gold\" or the \"Company\") announces that it has entered into a Property Purchase Agreement (the \"Agreement\") dated February 14, 2020 with Ximen Mining Corp. (\"Ximen\"), whereby Klondike Gold will sell to Ximen all of its British Columbia gold properties totalling 98 mineral claims covering 4,171 hectares and one Crown Granted mineral claim of 8.7 hectares located in the southeastern part of the province. The Agreement covers four properties, namely Ron Gold (Nelson), Clubine, Hughes, and Quartz Mountain.The terms for the Agreement are as follows:Payment of $100,000 in cash,Payment of 1,000,000 Ximen common shares and 1,000,000 Ximen warrants to purchase 1,000,000 common shares of Ximen at $0.45 per share for a period of 24 months from the date of issuance.Completion of the sale of the BC properties is subject to the satisfaction of a number of conditions, including approval from the TSX Venture Exchange.Peter Tallman, President and CEO of Klondike states \"Klondike has divested its interests in southeastern British Columbia in return for a meaningful share position in Ximen Mining Corp. This strategy allows Klondike Gold shareholders leverage to a combined portfolio of highly prospective British Columbia gold properties and including centralized, permitted gold mill while keeping the Company's financial and exploration focus on its core Yukon assets. We welcome Ximen Mining as our partner in realizing value from these properties for both our Companies\".ABOUT KLONDIKE GOLD CORP.Klondike Gold Corp. is a Vancouver based gold exploration company advancing its 100%-owned Klondike District Gold Project located at Dawson City, Yukon Territory, one of the top mining jurisdictions in the world. The Klondike District Gold Project targets gold associated with district scale orogenic faults along the 55-kilometer length of the famous Klondike Goldfields placer district. To date, multi-kilometer gold mineralization has been identified at both the Lone Star Zone and Stander Zone, among other targets. The Company is focused on exploration and development of its 586 square kilometer property accessible by scheduled airline and government-maintained roads located on the outskirts of...