VANCOUVER, BC / ACCESSWIRE / August 29, 2022 / Alliance Mining Corp. (TSX.V:ALM) ("Alliance" or the "Company") announces that it has filed a Notice of Civil Claim in the Supreme Court of British Columbia (the "Claim") against Tiberius Gold Corp. ("Tiberius"), a private British Columbia company. The Claim alleges that Tiberius is in breach of its obligations to the Company under a January 27, 2017 mineral property option agreement (the "Option Agreement") granting the Company the right to acquire 14 mineral tenures known as the "Red Rice Lake" claims (the "Property") located in the Bissett gold camp in Manitoba. Despite Alliance having made all of the option payments it alleges were required to complete the acquisition of the Property, and Alliance's repeated demands, Tiberius has persisted in its refusal to transfer the Property.
Since its March 15, 2021 press release concerning its difficulties with Tiberius, Company management has made exhaustive efforts to resolve these matters without having to resort to litigation. While management regrets having to file the Claim, it has concluded that it must do so now in order to protect the legitimate interests of the Company and its stakeholders.
The Claim seeks relief against Tiberius, principally including an order for specific performance of the Option Agreement directing that Tiberius immediately register a transfer to Alliance of the 100% right, title and interest in and to the Property. The Company's allegations have not yet been proven in court.
ON BEHALF OF THE BOARD
Allan Beaton
Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
(604) 488-3900
Investor Relations: 604-488-3900
Forward-Looking Statement Cautions: This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements relating to a breach of the Option Agreement (as defined above) and the Company's legal action to enforce its entitlement to the Property (as defined above). Although the Company believes that such statements are reasonable based on current circumstances, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts, and by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties, including the possibility the Company may not be successful in its legal action to enforce the performance of the Option Agreement.
There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or the policies of the TSX Venture Exchange. Readers are encouraged to review the Company's complete public disclosure record on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Alliance Mining Corp.
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4
SOURCE: Alliance Mining Corp.
View source version on accesswire.com:
https://www.accesswire.com/713924/Alliance-Mining-Reports-on-Bissett-Gold-Mine-Camp-Contract-Dispute
