Business
Ophir to Acquire Claims from Troilus Gold Corporation in James Bay, Quebec
Vancouver, British Columbia--(Newsfile Corp. - March 7, 2023) - Ophir Gold Corp.  (TSXV: O...
About this update from Ophir Metals Corp
[{"type":"text","content":"Ophir to Acquire Claims from Troilus Gold Corporation in James Bay, QuebecVancouver, British Columbia--(Newsfile Corp. - March 7, 2023) - Ophir Gold Corp. (TSXV: OPHR) (OTCQB: KPZIF) (FSE: 80M) (the \"Company\" or \"Ophir\") is pleased to announce that it has entered into a purchase and sale agreement dated March 6th, 2023 (the \"Agreement\") with Troilus Gold Corporation (the \"Vendor\") to acquire three (3) mining claims located in James Bay, Quebec (the \"Claims\"). The three (3) claims are contiguous to the Company's Radis Lithium Property.The terms of the Agreement provide for the Company to acquire a 100% interest in the Claims in consideration for the issuance of 225,000 common shares of the Company to the Vendor. In addition, the Vendor shall retain a 2% Net Smelter Royalty (\"NSR\") on the Claims, while the Company shall have the option to purchase back three-quarters of the NSR, thereby reducing it to 0.5%, for $1,500,000. The Vendor is arm's length to the Company. The closing of the transaction is subject to customary conditions, including the approval of the TSX Venture Exchange.Ophir also announces that, pursuant to its stock option plan, it has granted an aggregate of 130,000 options to purchase common shares in the capital of the Company to certain directors of the Company, exercisable at a price of $0.305 per share for a period of five (5) years from the date of grant.About the CompanyOphir Gold Corp. is a gold exploration company focused on the exploration and development of its flagship property, the past producing Breccia Gold Property located in Lemhi County, Idaho, as well as new Radis Property in James Bay, Quebec. The Company has an option to earn a 100% interest in the Breccia Gold Property over a three-year period from Canagold Resources Ltd. (formerly Canarc Resource Corp.) and DG Resource Management Ltd.The Company also has an option to earn a 100% interest in the Radis Lithium Property over a three-year period from Eastmain Resources Inc., a wholly owned subsidiary of Fury Gold Mines Limited.On behalf of the Board of Directors\"Shawn Westcott\"Ophir Gold Corp.For further information, please contact:Shawn Westcott, CEOPhone 1 (604) 365 [email protected] the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Ventu...