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Group Ten Metals Completes Earn-Ins at Black Lake-Drayton Project in Ontario and Expands Land Position
VANCOUVER, British Columbia, July 18, 2018 (GLOBE NEWSWIRE) -- Group Ten Metals Inc. (TSX-V:PGE) (US OTC:PGEZF) (FSE:5D32) (the “Company” or “Group Ten”) is ple
About this update from Stillwater Critical Minerals Corp
[{"type":"text","content":" VANCOUVER, British Columbia, July 18, 2018 (GLOBE NEWSWIRE) -- Group Ten Metals Inc. (TSX-V:PGE) (US OTC:PGEZF) (FSE:5D32) (the “Company” or “Group Ten”) is pleased to provide an update on the Company’s Black Lake-Drayton gold project, located in the Rainy River district of Northwest Ontario, Canada, including the completion of all outstanding earn-in requirements on two of the claim blocks. The Ontario asset complements Group Ten’s core Stillwater West project with a large and highly prospective land position which is strategically located beside advanced-stage projects in a world-class high-grade gold district. Group Ten has completed the earn-in requirements for the Drayton claim block within the Black Lake-Drayton project by completing all terms of the agreement announced October 16, 2012, including issuance of the final installment of 142,857 common shares. As a result, Group Ten now owns 100% right and title to these claims, subject only to certain production royalties, which include buy-down provisions. The Company has also completed the earn-in with a private vendor for six claims under an agreement announced November 14, 2013, as amended. The agreement was further amended to include buy-out of the royalty provision along with completion of the earn-in via one final share issuance of 200,000 commons shares. As a result, the Company owns 100% right and title to this parcel with no remaining obligations to any party. With the above earn-ins complete, the Company now owns 100% right and title to over 85 square kilometers (km2) of the more than 114 km2 Black Lake-Drayton project, with the remaining portion subject to two earn-in agreements. President and CEO Michael Rowley said, “By strategically acquiring the Black Lake-Drayton project during the lows of the recent market cycle, Group Ten was able to secure this large and highly prospective land package for very modest consideration. Recent results and work currently underway on the adjoining Goldlund and Goliath projects held by First Mining Gold and Treasury Metals, respectively, continues to bring new interest to the area, building on New Gold’s Rainy River project which first attracted attention to the district in the 1990s. The Company has received expressions of interest from potential partners on the project and is currently planning field programs for 2018 to...