Gold’n Futures Reports Signing a US$3.0 Million Stock Deal For 90% of Its Brady Gold Project in Newfoundland
January 05 2022 - 7:30AM
Gold’n Futures Mineral Corp. (CSE: FUTR) (FSE:
G6M), (OTC: GFTRF) (the "
Company” or
“
Gold’n Futures”) is pleased to report that it has
signed a purchase and sale agreement (the
“
Agreement”) with a wholly owned Canadian
subsidiary of Beaver Gold Corp. (“
Beaver Gold”)
for the sale of 90% of the Company’s interest in the Brady Gold
Project located in the Province of Newfoundland (the “
Brady
Property”).
Beaver Gold is a Nevada-based company focused on
the development of junior mining projects. In consideration for the
purchase of the Brady Property interest, Beaver Gold shall issue to
the Company such number of common shares of Beaver Gold as is equal
to US$3.0 million divided by the price per share at which it closes
its current non-brokered private placement financing. Subsequent to
the financing, Beaver Gold intends on listing it’s common shares on
the NASDAQ with a coincident initial public offering.
“With the sale of an interest in the Brady
Property, Gold’n Futures has secured two important assets - being a
significant shareholding in Beaver Gold and a retained 10% interest
in a developing the Brady Property. In addition, the US$3.0 million
share consideration received for the Brady Property represents a
material return on our investment in Newfoundland. It is our intent
to harvest the value of the Beaver Gold shares and to utilize the
proceeds for the continuing exploration and development of the
Company’s Hercules gold project and for the working capital of the
Company.”
Commented, Stephen Wilkinson, President and
CEO
The Brady Gold Project
The Project is located 50 kilometres south of
the town of Grand Falls – Windsor in central Newfoundland and is
approximately 80 kilometres southwest of the New Found Gold Corp. –
Queensway gold project. The Brady Property comprises two mining
licenses, 031339M and 27408M that include 38 claims covering
approximately 950 hectares. The Reid Gold Zone is the main area of
exploration and mineralization within the Project.
The Reid Gold Zone is classified as an
intrusion-hosted style of gold mineralization. Several episodes of
diamond drilling totaling 30 diamond drill holes and 6,350 metres
of core have defined the zone over a strike length of 300 metres, a
width of 250 metres and to a vertical depth of 225 metres. The zone
is reportedly open along strike and to depth.
As of September 30th, 2021, Gold’n Futures
reported a total of $861,348 invested in the Brady Property
including both acquisition costs and exploration expenditures. To
accelerate its acquisition of its 100% ownership in the Brady Gold
Project, the Company has issued a further 2.5 million shares to the
vender at a deemed price of $0.075 per share.
Qualified Person
The scientific and technical content of this
press release has been prepared, reviewed and approved by Mr.
Walter Hanych, P. Geo., who is a Qualified Person under NI 43-101
regulations and is a director of the Company.
About Gold’n Futures Mineral
Corp.
Gold’n Futures Mineral Corp. (CSE: FUTR) (FSE:
G6M) (OTC: GFTRF) is a Canadian based exploration company focused
on advancing its Hercules gold project. The Hercules is located 200
kilometres northeast of Thunder Bay, Ont., in the townships of
Elmhirst and Rickaby, within the Thunder Bay North Mining District.
The Project is in the heart of the Beardmore – Geraldton gold
mining camp, the 4th largest gold camp in Canada and is 40 km west
of the Hardrock-Greenstone gold mine development. The property lies
within an Archean greenstone belt that extends from the Longlac
area in the east to Lake Nipigon in the west, a distance of about
130 kilometres and consists of 475 contiguous claim cells (10,052
ha). From the historical work completed on the property, the
Company has built an extensive database including reconnaissance
grab samples; channel samples; a variety of geophysical surveys;
and a drill hole database that includes historical drilling
totalling in the order of 537 holes with more than 107,000m of
drill core. With surface grab samples grading up 10,374 g/t gold
and channel samples up to 32.96 g/t gold across 11.6 m, the
Hercules gold zones offer top tier targets for the expansion of its
historical resources.
Gold’n Futures commenced its inaugural diamond
drill program in December, 2021 with a planned 14 holes totalling
2,200 m.
For more information, please visit our website
at: www.goldnfuturesmineralcorp.com
For further information
Stephen Wilkinson,President and
CEOEmail: contact@goldnfutures.com
The Canadian Securities Exchange accepts
no responsibility for the adequacy or accuracy of this
release.
This news release may contain forward-looking
statements based on assumptions and judgments of management
regarding future events or results. Such statements are subject to
a variety of risks and uncertainties which could cause actual
events or results to differ materially from those reflected in the
forward-looking statements. There is no assurance the private
placement, property option, change of board or reinstatement of
trading referred to above will close on the terms as stated, or at
all. The Company disclaims any intention or obligation to revise or
update such statements.
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