Business
TRU Acquires 100% Ownership of Altius' Golden Rose Project
Toronto, Ontario--(Newsfile Corp. - November 30, 2022) - TRU Precious Metals Corp. (TSXV: TRU) (O...
About this update from Tru Precious Metals Corp.
[{"type":"text","content":"TRU Acquires 100% Ownership of Altius' Golden Rose ProjectToronto, Ontario--(Newsfile Corp. - November 30, 2022) - TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (\"TRU\" or the \"Company\") is pleased to announce that it has concurrently exercised three option agreements to acquire 100% ownership of the Company's flagship Golden Rose Project (\"Golden Rose\" or the \"Project\"), as described below (Figure 1), located in the highly prospective Central Newfoundland Gold Belt. TRU Co-Founder & CEO Joel Freudman commented, \"Acquiring 100% ownership of Golden Rose earlier than initially contemplated or required is a testimony to our confidence that there is much more discovery potential to uncover. Since optioning the Project from TSX-listed Altius Minerals Corporation in May 2021, we have worked with determination and prudence as we tactically consolidated the most prospective claims within and surrounding Golden Rose, alongside exploring the Project. We are now the sole owners of this formidable land package, flanked on either side by deposit-bearing neighbours. We intend to expand TRU's pipeline of drill-ready targets across the Project through relatively low-cost, but high-upside, exploration methods, to ultimately prepare for what we are hopeful will be an exciting 2023 drill program.\"The Company has exercised the following option agreements:Option Agreements with Altius and Shawn Rose On May 12, 2021, TRU announced that it had closed a definitive option agreement with a subsidiary of TSX-listed Altius Minerals Corporation (\"Altius\"), by which Altius granted to TRU the exclusive right and option (the \"Altius Option\") to acquire, subject to retention by Altius of a maximum 2.0% net smelter return royalty (\"NSR\"), its 100% interest in a package of mineral claims located in the southwestern portion of the Central Newfoundland Gold Belt (the \"Altius Claims\"). In connection with the Altius Option, Altius also assigned to TRU a supplementary option agreement under which Shawn Rose granted TRU the exclusive right and option (the \"Rose Option\") to acquire, subject to retention by Shawn Rose of a 2.0% NSR, his 100% interest in certain surrounding mineral claims known as the Rose Gold claims (the \"Rose Claims\").Collectively, the Altius Claims and the Rose Claims formed the initial basis of Golden Rose. The Company...