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NORTH PEAK AND MINEX AMEND BLACK HORSE PROPERTY OPTION AGREEMENT; PROPERTY REVERTS TO MINEX AND PORTION OF INITIAL PAYMENT RETURNED
NORTH PEAK AND MINEX AMEND BLACK HORSE PROPERTY OPTION AGREEMENT; PROPERTY REVERTS TO MIN...
About this update from North Peak Resources Ltd
[{"type":"text","content":"\n \n \n \n NORTH PEAK AND MINEX AMEND BLACK HORSE PROPERTY OPTION AGREEMENT; PROPERTY REVERTS TO MINEX AND PORTION OF INITIAL PAYMENT RETURNED\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.prntar{\nTEXT-ALIGN: RIGHT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n www.northpeakresources.com\n \n \n TSX Venture: NP\n \n \n \n \n Calgary, AB\n \n \n ,\n \n \n Sept. 1, 2022\n \n \n /CNW/ -\n \n North Peak Resources Ltd.\n \n (TSXV: NPR) (the \"\n \n Company\n \n \" or \"\n \n North Peak\n \n \") announces that it has mutually agreed with Minex LLC to amend the Option Agreement for the Black Horse Property such that control of the\n \n Nevada\n \n gold property reverts to Minex and\n \n US$500,000\n \n and 1,250,000 common shares from the initial option payment (see news release -\n \n December 6\n \n \n th\n \n , 2021) is being returned to the Company, who will now forego all option rights over the Black Horse Property.\n \n \n \n \n \n \n \n \n \n \"The opportunity to work with Minex and its founder\n \n Gary Grauberger\n \n on the Black Horse project in\n \n Nevada\n \n was a great learning opportunity and both parties coordinated on the work programs this spring,\" said\n \n Brian Hinchcliffe\n \n , North Peak CEO. \"We wish Minex success going forward and hope the core drilling and other exploration activity carried out will be of benefit. While the Company's property search focus has been almost exclusively\n \n Nevada\n \n recently, challenges experienced these past months - including costs and productivity – will result in a geographically expanded search.\"\n \n \n The amendment to the aforementioned Option Agreement (originally signed December 6, 2021) is effective\n \n August 31\n \n , 2022.  As part of this transaction, the Company is responsible for and has agreed to complete reclamation on the Black Horse Property resulting from its recent drilling and exploration program, for which a bond of\n \n US$21,899\n \n is on deposit with the Bureau of Land Management.\n \n \n \n About North Peak\n \n \n \n The Company is a Canadian based gold expl...