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American Eagle Gold and Orefinders Resources Announce Exploration Option Agreement and Call Option Agreement for American Eagle's NAK Project
American Eagle Gold and Orefinders Resources Announce Exploration Option Agreement and Ca...
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[{"type":"text","content":"\n \n \n \n American Eagle Gold and Orefinders Resources Announce Exploration Option Agreement and Call Option Agreement for American Eagle's NAK Project\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Oct. 13, 2022\n \n \n /CNW/ - American Eagle Gold Corp. (TSXV: AE) (\"\n \n American Eagle\n \n \") and Orefinders Resources Inc. ‎(TSXV: ORX) (\"\n \n Orefinders\n \n \") are pleased to jointly announce that they have entered into an option agreement ‎(the \"\n \n Option Agreement\n \n \") and a call option agreement (the \"\n \n Call Option Agreement\n \n \"), each dated\n \n October 11, 2022\n \n ‎. ‎Each such agreement pertains to a 20% interest ‎(except the NSR as defined below)‎ (the \"\n \n Interest\n \n \") in American Eagle's NAK Copper-Gold Porphyry project (the \"\n \n Project\n \n \"), consisting of 5 mineral claims located northeast of\n \n Smithers, British Columbia\n \n .\n \n \n \n Terms of the Option Agreement\n \n \n \n Pursuant to the Option Agreement, American Eagle, as optioner, granted Orefinders, as optionee, an option to acquire the Interest in the Project. Consideration for acquiring the Interest is the carrying out by Orefinders of an aggregate of\n \n $1,000,000\n \n in work obligations to enable the carrying out of exploration work on the project by not later than\n \n December 31, 2022\n \n (the \"\n \n Work Obligations\n \n \").\n \n \n The\n \n $1,000,000\n \n in Work Obligations will be incurred primarily through third party-contractors primarily for drilling, drill related work, geophysics, reports and sampling and all services in support thereof but will also include all necessary maintenance and carrying costs including taxes or fees levied by the Province of\n \n British Columbia\n \n or its agencies or the local municipality (but not sales taxes or taxes on income or profits) relating to the Project. American Eagle shall be entitled to charge a management fee equal to 5% of all such third party costs, which shall form part...