Vancouver, British Columbia--(Newsfile Corp. - January 17, 2023) - Gold Hunter Resources Inc. (CSE: HUNT) ("Gold Hunter" or the "Company") is pleased to announce it has made the 3rd anniversary property payment to the Optionor, Northbound Capital Corp., pursuant to the Cameron Lake East Property Agreement, consisting of 500,000 shares and $12,000 cash. The Company has one additional cash payment of $12,000 to make to the Optionor on or before January 15, 2024.
Under the Agreement, the Optionor has granted the Company the option to acquire all rights, title and interest in the Cameron Lake East Property claims. In addition, the claims are subject to the reservation by the Optionor of a 1.5% net smelter returns royalty (the "Optionor's NSR") to be paid by the Company upon exercise of the option in full subject to the reservation by the Optionor's NSR.
Following the exercise of the Option, the Company will have the right to purchase the Optionor's NSR at any time for $1,000,000. For greater certainty, in the event the Company purchases the Optionor's NSR, the Claims would be subject only to the Claim Holder's NSR of which the Optionor will hold an option to purchase a one-half interest (0.75%) in accordance with the terms of the Head Option Agreement.
The Cameron Lake East Property is located in the Rowan Lake Area of the Kenora Mining Division in northwestern Ontario, approximately 75 km southeast of the town of Kenora. The Cameron Lake East Property was originally acquired as the listing asset for Gold Hunter in August 2020, and consists of 18 contiguous mining claims for a total of 4,660 Ha.
The property is an early-stage project that is an early-stage underexplored, which hosts several mineral showings and zones of geochemical anomalism coincident with occurrences of favorable prospective geology and structure across the claims disposition.
About the Company
The Company is engaged in acquisition, exploration, and development of mineral property assets in Canada. The Company's objective is to locate and develop economic precious and base metal properties of merit. In January 2022 Gold Hunter acquired 8 additional properties in Newfoundland which amount to 580 claims for 14,500 ha (See January 25th 2022 New Release here). The acquisition included the Rambler and Tilt Cove projects which are located adjacent to known productive VHMS deposits located on the Baie Verte Peninsula, Newfoundland.
For more information, please refer to the Company's Prospectus dated January 21, 2021 available on SEDAR (www.sedar.com), under the Company's profile.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard Macey, President, Chief Executive
Officer and Director
Tel +1 (604) 537-4174
rich.macey@yahoo.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Gold Hunter Resources Inc. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Gold Hunter Resources Inc.'s management on the date the statements are made. Except as required by law, Gold Hunter Resources Inc. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/151688
