Vancouver, British Columbia--(Newsfile Corp. - February 4, 2025) - Auric Minerals Corp. (CSE: AUMC) ("Auric" or the "Company") has signed an option agreement for the previously announced letter of intent, giving the Company an option to earn 100-per-cent interest in three prospective uranium properties, Caboose, Kawip and Manic; all located in accessible regions of Quebec.
Chris Huggins, CEO states, "With the execution of this option agreement, Auric reinforces its commitment to growth through its Eastern Canada exploration strategy. Driven by the increasing global demand for uranium as nuclear energy becomes a key alternative to fossil fuels, Auric is strategically positioning itself as a leading early-stage exploration company. These three new properties in Quebec, a premier mining jurisdiction, significantly expand Auric's portfolio of highly prospective uranium assets and, combined with recent acquisitions in Labrador's Central Mineral Belt, demonstrate the company's commitment to Eastern Canada.
Option Terms
Auric Minerals can earn the right to 100% interest to the Caboose, Kawip and Manic properties located in Quebed, following a total value payment of $300,000 over two years. Within ten days of executing the definitive agreement, $50,000 cash will be paid; a guaranteed $25,000 cash or equivalent value Consideration Shares (based on 10 day vwap) payment will occur on or before the first (1) year anniversary date. To continue the option, a $75,000 cash or equivalent value Consideration Shares (based on 10 day vwap) is to be paid on or before the first (1) year anniversary date. On or before the second (2) year anniversary a $150,000 cash or equivalent value Consideration Shares (based on 10 day vwap) will be paid. On completion of these payments the company will have earned 100% interest in all three properties.
About the Company
Auric is a mineral exploration company based in Oakville, Ontario and holds options over the Route 500 and Bub Uranium Properties in Labrador, and the Goodeye Property in British Columbia, Canada.
AURIC MINERALS CORP.
Chris Huggins, Director, and interim CEO
For more information, please call Chris Huggins at (604) 968-4844 or email chris@greenwood.capital
Forward-Looking Statements
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's intentions, plans and future actions described herein and the terms thereon.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239543
SOURCE: Auric Minerals Corp.
