Vancouver, British Columbia--(Newsfile Corp. - December 19, 2024) - Endurance Gold Corporation (TSXV: EDG) (OTC Pink: ENDGF) (FSE: 3EG) (the "Company") is pleased to announce that it has fulfilled the requirements of three option agreements and acquired 100% interest in the related properties that constitute the majority of the Reliance Gold Project (the "Property") in B.C. The Project is located 5 kilometers ("km") east of Gold Bridge and 10 km north of the Bralorne Gold Mines which have historically produced over 4 million ounces of gold.
The Company has accelerated its final vesting of ownership in all properties related to three option agreements which formed the majority of the Property by making final cash payments of $205,000 and the issuance of 3,100,000 Endurance shares. The issued shares are subject to minimum regulatory and agreed hold periods. In addition to the cash and share payments, 750,000 share purchase warrants (the "Warrants") were issued to the Optionor of the Olympic Property as per the 2022 Option Agreement. Each Warrant entitles the Optionor to acquire one common share of the Company for a period of three years from the date of issuance. The exercise price of the Warrants is set at $0.17, a 25% premium to the 20-day volume weighted average price of the share. Any shares to be issued from the exercise of the Warrants will be subject to a four-month hold period in accordance with the policies of the TSX Venture Exchange (the "Exchange"). The issuance of Warrants remains subject to the final acceptance by the Exchange. For details of the option terms for the three option agreements, please refer to the Company's news releases issued on September 12, 2019, October 18, 2022 and October 25, 2022 as well as a deal location figure available on the Company's website
Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits.
ENDURANCE GOLD CORPORATION
Robert T. Boyd, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporationwww.endurancegold.com
Toll Free: (877) 624 2237, info@endurancegold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.
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SOURCE: Endurance Gold Corporation
