Toronto, Ontario - 55 North Mining Inc. ('55 North' or the 'Company') is pleased to announce that the Company and Marcel Colomb First Nations (MCFN) have signed an Exploration Agreement ('the Agreement') outlining a framework for exploration activities within MCFN Traditional Territory and a mutually beneficial relationship between the Company and MCFN.
The Agreement details how the two parties will work together to progress ongoing exploration activity.
As part of the Company's agreement with the Marcel Colomb Band, the Company will issue 2 million Common shares and the Board of Directors has approved the grant, to the Marcel Colomb Band, of 2 million stock options (the 'Options') exercisable for a total of 2 million common shares at an exercise price of $0.05 for a period of 60 months. All Options were granted pursuant to the Company's stock option plan and are subject to the terms of the applicable grant agreements and the requirements of the Canadian Securities Exchange.
About 55 North Mining Inc.
55 North Mining Inc. is an exploration and development company advancing its high-grade Last Hope Gold Project located in Manitoba, Canada.
Contact:
Mr. Bruce Reid
Chief Executive Officer
Director 55
North Mining Inc.
Email: [email protected]
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of 55 North contains statements that constitute 'forward-looking statements.' Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
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