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Crown Mining Corp. Completes Purchase of Moonlight Property
Toronto, Ontario--(Newsfile Corp. - March 13, 2018) - Crown Mining Corp. (TSXV: CWM) ("Crown" ...
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[{"type":"text","content":"Crown Mining Corp. Completes Purchase of Moonlight PropertyToronto, Ontario--(Newsfile Corp. - March 13, 2018) - Crown Mining Corp. (TSXV: CWM) (\"Crown\" or \"the Company\") is pleased to announce that it has exercised its option to acquire and completed the purchase of a 100% undivided right, title and interest in its Moonlight property (the \"Property\") located in Plumas County in northeast California, USA.The option agreement was entered into with Canyon Copper Corp in February 2016 (see press release dated February 29, 2016) providing the Company with the option to acquire the Property at any time on or before the 36-month anniversary of the agreement.  Pursuant to the terms of the agreement, from the date of the agreement until the closing of the acquisition, total cash consideration of $375,000 was paid by the Company to the vendors along with 2,750,000 shares of Crown issued to the vendors. The final payment of $350,000, which is included in the total cash consideration of $375,000, was paid by Crown into escrow on February 26, 2018 pending completion of the recording of the transfer documentation. The Moonlight property consists of 208 unpatented mining claims covering approximately 4000 acres subject to an underlying 2.5% net smelter returns royalty. All claims have been transferred to Crown and recorded in Crown's name at the Bureau of Land Management and in the Plumas County records office.Other Recent News about CrownCrown just recently released the results of a Preliminary Economic Assessment (\"PEA\") prepared by Tetra Tech Inc on March 2, 2018 regarding the Company's Moonlight Copper Project.The PEA was prepared pursuant to National Instrument 43-101 standards by independent consultant, Tetra Tech Inc., and the full technical report will be filed on SEDAR within 45 days of this news release. The full news release can be found on both the company's website at www.crownminingcorp.com or on www.sedar.com under the Crown Mining Corp. profile.About Crown Mining Corp.Crown controls approximately 15 square miles of patented and unpatented federal mining claims in the Light's Creek Copper District in Plumas County, NE California; essentially, the entire District. The District contains substantial copper (silver) sulfide and copper oxide resources in three deposits — Moonlight, Superior and Engels, as well as...