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RosCan Finalizes Option Agreement to Acquire the Mankouke Permit for Its West Mali Kandiole Gold Project
Toronto, Ontario--(Newsfile Corp. - July 10, 2018) - RosCan Minerals Corporation (TSXV: ROS) ...
About this update from Roscan Gold Corporation
[{"type":"text","content":"RosCan Finalizes Option Agreement to Acquire the Mankouke Permit for Its West Mali Kandiole Gold ProjectToronto, Ontario--(Newsfile Corp. - July 10, 2018) - RosCan Minerals Corporation (TSXV: ROS) (\"RosCan\" or the \"Company\"), further to its news release of June 5, 2018, is pleased to announce that the Company has finalized the option agreement with Minex SARL (\"Minex\") to acquire a 100% interest in the 16 sq. km. Mankouke permit. Minex is a private company located in Bamako, Mali, involved in the acquisition and exploration of mineral properties. Key terms of the option agreement are:Pay Minex $250,000, of which $40,000 was paid on signing and the balance of $210,000 is to be paid over a three (3) year period;Issue 1,000,000 RosCan common shares to Minex in four equal instalments, of which 250,000 shares were issued and the remaining instalments are to be issued annually over a three (3) year period;Incur exploration expenditures of $205,000 over a three (3) year period;Minex shall retain a 3% NSR on all ore mined from the property. RosCan has the right to purchase two-thirds of the NSR (equivalent to a 2% NSR) for US$1,000,000; and,During the three (3) year option period, RosCan shall be responsible for maintaining the permit in good standing and performing any and all obligations required by law.Roscan's west Mali Kandiole Project (visit our web site at http://www.roscan.ca to view map) consists of six permits and encompasses approximately 271 sq. km. of contiguous land located in the prolific gold prospective Birimian rocks of west Mali. The Kandiole Project is located east of B2Gold's Fekola mine and Iamgold's, Boto and Diakha deposits and north of Iamgold's Siribaya deposit. ABOUT ROSCAN RosCan Minerals Corporation is a Canadian gold exploration company focussed on West Africa. The Company has assembled a land position of 100%-owned permits in an area of large gold deposits for its Kandiole Project in west Mali. RosCan is also exploring the gold potential of the early exploration stage Dormaa Project in Ghana, in which RosCan can earn a 50% interest through an option agreement with Pelangio Exploration Inc. For further information, please contact:Greg IsenorPresident and Chief Executive OfficerTel: (902) 832-5555 or (416) 293-8437Email: [email protected] Looking StatementsThis news release contains forward-looking...