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BMEX Gold Receives Exchange Approval for Property Option Agreements
Vancouver, British Columbia--(Newsfile Corp. - October 5, 2021) - BMEX Gold Inc. ( TSXV: BMEX ...
About this update from Route 109 Resources Inc.
[{"type":"text","content":"BMEX Gold Receives Exchange Approval for Property Option AgreementsVancouver, British Columbia--(Newsfile Corp. - October 5, 2021) - BMEX Gold Inc. (TSXV: BMEX) (FSE: 8M0) (\"BMEX\" or the \"Company\") is pleased to announce that further to its news release dated August 30, 2021, it has received Exchange approval for its amended option agreements for the King Tut and Dunlop Bay properties. The remaining staged cash option payments of $300,000 under each agreement have been replaced with the issuance of 2,000,000 common shares for each agreement, for an aggregate issuance of 4,000,000 common shares. The Company has now issued the full 4,000,000 shares and has earned a full 100% interest in each property. The shares are subject to a four month hold period expiring on February 2, 2022.In addition to the cash and share payments under the Dunlop Bay Option Agreement, the Company must make two milestone payments of $500,000 each, payable in cash or in common shares, at the option of the Company, the first upon receipt by the Company of an independent technical report confirming the existing of a mineral resource on the Dunlop Bay Property containing at least 500,000 ounces of gold in the measured and indicated categories, and the second upon completion and delivery of a positive pre-feasibility study on the Dunlop Bay Property. The issuance of any shares on the milestone payments is subject to the prior approval of the Exchange at the time of issuance.About BMEX Gold Inc.BMEX Gold Inc. is a junior Canadian mining exploration company with the primary objective to acquire, explore, and develop viable gold and base metal projects in the mining-friendly jurisdiction of Quebec, Canada. BMEX is currently fully focused on earning 100% interest in its two projects, both located in the prolific Abitibi greenstone belt: King Tut Project consists of 120 contiguous claims on 5,206 hectares Dunlop Bay Project consists of 76 mineral claims that cover 4,226 hectaresBMEX common shares trade under the symbol \"BMEX\" on the TSX-V and under the symbol 8M0 on the Frankfurt Exchange. For further information please contact:BMEX Gold Inc. Dylan Sidoo, Business Development Tel: 1 (604) 423 4499 Email: [email protected] Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) ...