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Whitehorse Gold Entered into a Loan Agreement With a Right of First Refusal to Acquire a High Grade Gold Project in Guinea
Vancouver, British Columbia--(Newsfile Corp. - April 5, 2022) - Whitehorse Gold Corp. (TSXV...
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[{"type":"text","content":"Whitehorse Gold Entered into a Loan Agreement With a Right of First Refusal to Acquire a High Grade Gold Project in GuineaVancouver, British Columbia--(Newsfile Corp. - April 5, 2022) - Whitehorse Gold Corp. (TSXV: WHG) (OTCQX: WHGDF) (\"Whitehorse Gold\" or the \"Company\") is pleased to announce that it has entered into to a loan agreement (\"Loan Agreement\") with a private Guinean gold mining company which owns certain mining concessions and licenses located in Guinea (the \"Properties\"), in exchange for a four-month exclusive right to negotiate an option acquisition agreement to acquire a 100% interest in the Guinean gold mining company (the \"Borrower\").Loan DetailsPursuant to the Loan Agreement, the Company has advanced a US$250,000 loan to the Borrower, mainly for the payment of Government tax on the title of the Properties. As security for the loan, the Borrower has pledged its shares in the wholly-owned subsidiary which holds the title of the Properties. The loan has a term of two years and an interest of 5%.ABOUT WHITEHORSE GOLD CORP.Whitehorse Gold is a mineral exploration company focused on its 170 km2 gold project located in southern Yukon, approximately 55 km south-southwest of Whitehorse. The Project hosts the advanced-stage Skukum Creek and Goddell deposits, and the formerly producing Mt. Skukum high-grade gold mine, all of which remain open for expansion, plus additional untested mineralized occurrences. Project infrastructure includes an all-weather access road, a 50-person camp, approximately 6 km of underground development, and a previously operating 300-tpd mill and associated support facilities. Underground operations by a previous operator at Mt. Skukum from 1986 to 1988 saw 233,400 tons of ore mined and processed to recover approximately 79,750 ounces of gold (Total Energold Corporation, 1989). The company is also reviewing other mining assets in jurisdictions that provide year-round access.On Behalf of Whitehorse Gold Corp. signed \"Gordon Neal\" Gordon Neal, CEO & Director For further information please contact:Investor Relations, Whitehorse Gold Corp.Phone: 604-336-5919Email: [email protected] the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy ...