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Stratabound Minerals Corp. Acquires 40% Ownership of Golden Culvert Project Through Completion of Option Payments
Toronto, Ontario--(Newsfile Corp. - December 13, 2021) - Stratabound Minerals Corp. (TSXV: SB...
About this update from Lode Gold Resources Inc
[{"type":"text","content":"Stratabound Minerals Corp. Acquires 40% Ownership of Golden Culvert Project Through Completion of Option PaymentsToronto, Ontario--(Newsfile Corp. - December 13, 2021) - Stratabound Minerals Corp. (TSXV: SB) (OTCQB:SBMIF) (\"Stratabound\" or the \"Company\") announces that pursuant to the terms of the Little Hyland and Golden Culvert Option Agreements dated September 27, 2017 and amended November 25, 2019, (the Agreements\"), it has completed the issuance of a total of 2,011,200 common shares to the Optionors. The shares represent 50% of the fourth anniversary payment due to the Optionors, and were issued at a deemed price of $0.0982 each.Securities issued pursuant to this transaction are subject to trading restrictions until April 11, 2022.Under the terms of the Agreements, having completed all the payments and incurred the expenditures prior to and including this fourth anniversary of the Agreements, Stratabound is now deemed to have earned a 40% interest in the Golden Culvert Property. Mr. R. Kim Tyler, President and CEO of Stratabound commented, \"We are pleased to have now acquired 40% ownership in the Golden Culvert Properties in this exciting yet under-explored eastern half of the Yukon that also includes Seabridge Gold's neighbouring high-grade 3 Aces Project. While moving ahead with our plans to advance our Fremont Property in California towards production, we also look forward to advancing our mid to early-stage gold projects at the forefront of two new emerging gold districts in both the Yukon at Golden Culvert and in northern New Brunswick at our McIntyre Brook gold project adjacent to Puma Exploration's Williams Brook project.\" The Company would also like to clarify that on the closing of the second tranche of the common share units on November 10, 2021, one insider subscribed for 100,000 common share units. About Stratabound Minerals Corp.Stratabound Minerals Corp. is a Canadian mineral development company developing its advanced stage Fremont Gold Project in the Mother Lode Gold Belt of California. The Project features an NI 43- 101 Mineral Resource estimate of 526k oz's at an average grade of 1.60 g/t Au in the Indicated plus 452k oz's at an average grade of 1.29 g/t Au in the Inferred Mineral Resource categories respectively encompassing two historic high-grade U/G gold mines. It also hosts 3 undeveloped gold o...