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VISIBLE GOLD MINES OPTIONS TO EEE EXPLORATION A 50% INTEREST IN 78 MINING CLAIMS (40 SQ KM) ADJACENT TO PATRIOT BATTERY METAL LITHIUM'S DISCOVERY IN THE JAMES BAY REGION
VISIBLE GOLD MINES OPTIONS TO EEE EXPLORATION A 50% INTEREST IN 78 MINING CLAIMS (40 SQ K...
About this update from Visible Gold Mines Inc.
[{"type":"text","content":"\n \n \n \n VISIBLE GOLD MINES OPTIONS TO EEE EXPLORATION A 50% INTEREST IN 78 MINING CLAIMS (40 SQ KM) ADJACENT TO PATRIOT BATTERY METAL LITHIUM'S DISCOVERY IN THE JAMES BAY REGION\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n ROUYN-NORANDA, QC\n \n \n ,\n \n \n Aug. 4, 2022\n \n \n /CNW Telbec/ -\n \n Visible Gold Mines Inc.\n \n (TSXV: VGD) (FRANKFURT: 3V41) is pleased to announce that it has entered into a mineral option agreement (the \"Agreement\") with EEE Exploration Corporation (\"EEE\"), a company listed on the CSE, pursuant to which EEE has an option to acquire a 50% undivided interest in the MegaLi Property (the \"Property\"). The MegaLi Property is comprised of a total of 78 mining claims covering a total area of 3,996.67 hectares and is located in the James Bay Region in the Province of Québec.\n \n \n Under the Agreement, EEE has the option (the \"Option\") to acquire a 50% interest in the Property by: making aggregate cash payments of\n \n $325,000\n \n to Visible Gold Mines (\n \n $25,000\n \n on execution of the Agreement,\n \n $50,000\n \n on the first anniversary of the Agreement,\n \n $100,000\n \n on the second anniversary of the Agreement, and\n \n $150,000\n \n on the third anniversary of the Agreement); issuing an aggregate of 3,000,000 Class A common shares of EEE (each, a \"Share\") to Visible Gold Mines (500,000 Shares on execution of the Agreement, 700,000 Shares on the first anniversary of the Agreement, 800,000 Shares on the second anniversary of the Agreement, and 1,000,000 Shares on the third anniversary of the Agreement); and incurring at least an aggregate amount of\n \n $1,850,000\n \n in exploration expenditures on the Property (at least\n \n $350,000\n \n on or before the first anniversary of the Agreement, at least an additional\n \n $500,000\n \n on or before the second anniversary of the Agreement, and at least an additional\n \n $1,000,000\n \n on or before the third anniversary of the Agreement). The Shares issued under the Agreement will be subject to a four month...