JonnyRBuck12
2 years ago
MLK Gold Ltd. Announces Corporate Name Change to Triple One Metals
2023-04-13 05:15 ET - News Release
Windsor, Nova Scotia, CANADA, April 13, 2023 (GLOBE NEWSWIRE) -- MLK Gold Ltd. (CSE:MLK) (“MLK Gold” or the “Company”) announces that it will change its corporate name to “Triple One Metals Inc.” and its ticker symbol will change to “TONE”. The new corporate website www.tripleonemetals.com will launch in the upcoming days.
The change in corporate name better reflects the Company’s diverse property portfolio.
The Company will issue a further press release soon providing the date on which the new name and ticker symbol will take effect. The name change will not affect the rights of the Company’s shareholders, and no further action is required by existing shareholders with respect to the name change.
The Company is pleased to announce an application is being made to quote the Company’s common shares on the Frankfurt Stock Exchange. The Frankfurt Stock Exchange is one of the world’s largest (behind only the Nasdaq and NYSE) organized exchange-trading markets based on trading volume.
The future quotation of the Company’s common shares on the Frankfurt Stock Exchange in addition to the CSE will heighten exposure of the Company in the European marketplace, which features an investor base traditionally active in the junior mining sector. The Company is confident that trading on the Frankfurt Stock Exchange will increase its liquidity and support the development of a stronger European investor base.
About MLK Gold Ltd.
Founded in 2018, MLK Gold Ltd. is quickly emerging as one of Atlantic Canada's exciting resource exploration companies offering exposure to gold and the strategic metal representing a unique mix of discovery and resource development potential. Invested in a portfolio of gold and critical metal projects in mining and mineral-rich Newfoundland, MLK’s plan is to capitalize on the province's ranking as one of the world’s top 10 mining jurisdictions and expand into a long-life, financially sound gold and critical metal-mining company.
Additional information about the Company and its activities may be found on the Company’s website at www.mlkgold.com and under the Company’s profile at www.sedar.com.
For additional information or to arrange an interview, please contact:
William (Bill) Fleming
Executive Chairman, MLK Gold Ltd.
59 Payzant Drive
P.O. Box 657, Windsor
Nova Scotia, Canada, B0N 2T0
Phone: 902.448.0716
Email: Bill.fleming@manewagi.com
JonnyRBuck12
2 years ago
MLK Gold closes $244,392 private placement
2023-03-20 07:12 ET - News Release
Mr. William Fleming reports
MLK GOLD LTD. COMPLETES $245,000 PLACEMENT
MLK Gold Ltd. has closed a non-brokered private placement generating gross proceeds of $244,392.01 through the sale of an aggregate of 8,146,400 units at a price of three cents per unit. Each unit comprised one common share and one share purchase warrant. Each warrant entitles the holder to acquire an additional common share at a price of five cents per share until March 17, 2024. All securities issuable in the placement are subject to a four-month hold period expiring on July 18, 2023, in accordance with applicable securities laws.
No finders' fees were payable in connection with the placement. The proceeds of the placement will be utilized for exploration activities and general working capital purposes.
About MLK Gold Ltd.
Founded in 2018, MLK Gold is quickly emerging as one of Atlantic Canada's exciting resource exploration companies offering exposure to gold and the strategic metal representing a unique mix of discovery and resource development potential. Invested in a portfolio of gold projects in mining and mineral-rich Newfoundland, MLK's plan is to capitalize on the province's ranking as one of the world's top 10 mining jurisdictions and expand into a long-life, financially sound gold mining company.
We seek Safe Harbor.
JonnyRBuck12
2 years ago
MLK Gold. Ltd Continues to Increase Its Lithium and Critical Metals Portfolio in Newfoundland
2023-02-09 05:15 ET - News Release
Windsor, Nova Scotia, Feb. 09, 2023 (GLOBE NEWSWIRE) -- MLK Gold Ltd. (“CSE: MLK”) (“MLK” or “MLK Gold” or the “Company”), a growth oriented precious and critical metal exploration company headquartered in Windsor, Nova Scotia, is pleased to report that it has again added to its growing portfolio of lithium and critical metals assets in Newfoundland. The Knob Brook lithium property, acquired by the Company through map staking, consists of 111 mineral claims is located approximately 4 kilometres south of the Company’s previously announced property, and roughly 15 kilometres east of the Kraken lithium discovery made by the Benton Resources-Sokoman Mineral Alliance.
The Knob Brook property is crossed by the Burgeo Highway (Route 480) near its western boundary that lies approximately 16 kilometres north of the Town of Burgeo. Access into more remote part of the property is best done by helicopter. Port facilities are available in Stephenville and transmission lines run near the properties.
Company Chairman, Bill Fleming stated that, “These are exciting times as Newfoundland emerges as a significant lithium district in the Appalachian Mountain Chain, especially given the significant lithium and caesium discovers in the western Dunnage Zone by the Benton Resources – Sokoman Minerals Alliance. We believe the general lack of historical exploration in the areas for lithium opens a huge opportunity to add to the list of critical metal discoveries in the Province of Newfoundland”. Based on preliminary reconnaissance of the Burgeo granite elsewhere to the south, the Company believes there is significant potential for critical metal-bearing pegmatite development at Knob Brook and its other nearby property. This mineral corridor, in part defined by the Hermitage Flexure with its associated fault structures, may hold potential for the first major lithium- bearing ore deposit in Atlantic Canada. Smith commented, “We know from previous government and academic research that although pegmatite dikes have been mentioned, based on our early field examination, their abundance has been dramatically under-stated. In addition, we also know that numerous quartz – tourmaline ± pyrite veins in the Burgeo Granite resembling the Marathon Gold’s Valentine Lake deposit located approximately 50 kilometres to the north, have not been thoroughly prospected, mapped, or sampled.”
The Company is nearing completion of its compilation and integration of geological, geophysical, and geochemical information on the property. MLK plans to commence high resolution drone mapping, selective geophysics, prospecting, and till geochemistry on the property once weather conditions improve. The Company plans to complete a full exploration program over the property starting in Q2-Q3 2023.
Qualified Persons and 43-101 Disclosure
Paul K. Smith (P. Geo.), President & CEO for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.
About MLK Gold Ltd.
Founded in 2018, MLK Gold Ltd. is quickly emerging as one of Atlantic Canada's premiere resource exploration companies offering exposure to gold and the strategic metal representing a unique mix of discovery and resource development potential. Invested in a portfolio of lithium and gold projects in mining and mineral-rich Newfoundland, MLK plans to capitalize on the province's ranking as one of the world’s top 10 mining jurisdictions for financially sound mining.
Additional information about the Company and its activities and promotional video may be found on the Company’s website at www.mlkgold.com and under the Company’s profile at www.sedar.com.
Contact Information
William (Bill) Fleming
Executive Chairman, MLK Gold Ltd.
59 Payzant Drive
P.O. Box 657, Windsor
Nova Scotia, Canada, B0N 2T0
Phone: 902.448.0716
Email: Bill.fleming@manewagi.com
JonnyRBuck12
2 years ago
News Article Regarding Lithium Exploration In Newfoundland
https://www.saltwire.com/atlantic-canada/business/local-business/lithium-exploration-growing-in-nl-100814239/
Lithium exploration growing in N.L.
Evan Careen · Multimedia journalist | Posted: Jan. 13, 2023, 6:41 p.m. | Updated: Jan. 13, 2023, 6:41 p.m. | 3 Min Read
Paul Smith, geologist with MLK, examining multiple pegmatite dikes for elevated lithium and other critical metal content. ContributedPaul Smith, geologist with MLK, examines multiple pegmatite dikes for elevated lithium and other critical metal content. - Contributed
ST. JOHN'S, N.L. — Interest in lithium seems to be picking up in Newfoundland, and a Memorial University geology professor said it isn’t hard to see why.
Derek Wilton, an honorary research professor with the department of earth sciences, said lithium projects have been popping up in different parts of Canada in recent years because the element is used in a variety of high-tech batteries and has been identified as a critical mineral by the federal government.
“It’s a whole group of minerals that Canada has decided are important for the future,” Wilton said. “With this interest in critical minerals, we’re trying to find sources of elements that are close to home, in our own country.”
Canada has no mines producing lithium, but is estimated to have approximately 2.9 million tonnes of the resource nationwide. A number of lithium projects are in various stages across the country, but none are actively producing the element.
All the lithium projects on the island are in the Burgeo area, where Sokoman Minerals and Benton Resources announced in 2021 what they believe is a significant lithium discovery.
The rock in the area is part of the Appalachian Mountain chain, on the same Palaeozoic belt as the Caledonian and Variscan mountain ranges in Europe, and lithium has been discovered on that belt in the United States and the United Kingdom.
Since the company announced what it refers to as the Kraken Pegmatite Field, at least two other companies have begun looking for the element in the region.
Wilton said he’s not surprised the discovery drew interest from other companies, and he wouldn’t be surprised to see more with the increased attention from the federal government.
“The thing is, nobody really looked for it here before,” he said. “There was no real interest in looking for lithium in Newfoundland and Labrador. It would have been a mineralogical curiosity. People would occasionally find some lithium minerals in granite or something, but we never thought of it as an economic endeavour.”
High hopes
One company hoping to find more of the element in Newfoundland is Nova Scotia-based MLK Gold Ltd. MLK, which may already be familiar to industry watchers in the province because of its three gold plays on the island, including its flagship Caledonia Brook project in central, announced recently it had acquired a potential lithium asset near the Sokoman discovery.
Bill Fleming, executive chairperson of the company, told SaltWire Network that after the Sokoman discovery was announced, the company decided to do some looking at other land in the area, and liked what it saw.
“After doing our initial reconnaissance off the Burgeo Highway, we found some great signs, some really good indications of it being a potential host body,” he said. “So we elected to further our portfolio of properties on the critical side and we staked those properties. We’re pretty stoked about the entire project, and I think that Newfoundland, especially with metals and critical minerals, this is just the tip of the iceberg.”
Fleming said there’s a lot of interest in critical minerals in Ontario and Quebec, but Nova Scotia and Newfoundland and Labrador are an untapped region that’s going to attract a lot of foreign capital.
“It’s going to happen. We’re starting to see that interest already,” he said. “It’s knocking on our door right now. Newfoundland is a large jurisdiction with the potential for a lot of untapped resources and we’re just excited to be a part of it.”
JonnyRBuck12
2 years ago
MLK acquires 2nd Li asset; arranges $250,000 financing
2023-01-09 10:18 ET - News Release
Mr. William Fleming reports
MLK GOLD. LTD. INCREASES CRITICAL METALS PORTFOLIO IN NEWFOUNDLAND
MLK Gold Ltd. has added a second lithium asset to its growing portfolio of properties. This property is located approximately 18 kilometres due east of the high-grade Kraken lithium and cesium discoveries made by the Benton Resources-Sokoman Mineral Alliance. The new mineral licence consists of 100 mineral claims having highly prospective potential for critical metal mineralization.
The property is located 6 kilometres east of the Burgeo Highway (Route 480). Access onto the property is best by helicopter. Company President and CEO, Paul Smith (P. Geo.) stated that, "Only three previous exploration companies have carried out historical work in the area, apparently for uranium, but no reports were filed with the government". Based on preliminary examination of the Burgeo granite elsewhere to the south, the Company believes there is significant potential for critical metal-bearing pegmatite development in this region. Smith commented, "We know from previous government and academic research that although pegmatite dikes have been noted, based on our preliminary field examination, their abundance has been dramatically under-stated. In addition, we also know that numerous quartz-tourmalineplus or minuspyrite veins resembling Marathon Gold's Valentine Lake deposit located approximately 50 kilometres to the north have not been thoroughly prospected or mapped", William (Bill) Fleming, Chairman of the Board for MLK Gold said, "This marks yet another advance in our strategy to enhance our critical minerals portfolio and where better to do this than on the front step of Newfoundland's first significant discovery of high-grade lithium and cesium mineralization made by the Benton-Sokoman Alliance! We're wishing them every success on their Kraken pegmatite discovery because their success is really a success for the entire Province". The Company plans to complete a full assessment of these claims starting in Q2 2023.
AGM and Special Shareholders Meeting
MLK Gold intends hold its AGM and Special Shareholder Meeting virtually on January 12 at 11 am Atlantic Time.
Caledonia Brook Update
The Company is also looking forward to continued exploration at its flagship Caledonia Brook property where it intends to follow up on both anomalous rock, soil, and glacial till sampling during earlier programs. This work is expected to commence in June and be completed by end of August. Pending financing, the Company will complete an initial drill program of 1,200 metres in 12 proposed holes at the Mustang66, Maverick, and Charlie Zones. Drilling will target lode and intrusive-hosted styles of gold mineralization. Gold at these zones has assayed up to 2.38 g/t Au and with silver up to 71.1 g/t Ag, 4.03 % Zn, and 1.07 % Pb and appears to be focused along either known structural faults occur or where the Company has evidence of shear zones and faulting. MLK's Caledonia Brook property is situated in central Newfoundland west of New Found Gold Corporation, northeast of the Valentine Lake deposit property, and southwest of Sokoman Minerals Moosehead gold property, and shares geological and structural similarities to Marathon Gold's (4.14 million ounces; 3.14 Moz. M&I, 56.7 Mt @ 1.72 g/t Au; 1.00 Moz. Inferred; 18.2 Mt @ 1.70 g/t Au) Valentine Lake deposit along the Victoria Lake - Grand Falls Shear Zone System. The Company's qualified person has not verified data from Marathon Gold's Valentine Lake project and similarities are not indicative of mineralization on the Company's properties.
Financing
The Company has arranged a non-brokered private placement to raise up to $250,000 at a price of $0.025 per unit (each a "UNIT"). Each unit will comprise one share with a full warrant exercisable at $0.05 per share for up to 12 months following closing. A portion of the financing, yet to be determined, is expected to be completed as flow-through.
Qualified Persons and 43-101 Disclosure
Paul K. Smith (P. Geo.), President & CEO for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.
About MLK Gold Ltd.
Founded in 2018, MLK Gold Ltd. is quickly emerging as one of Atlantic Canada's premiere resource exploration companies offering exposure to gold and the strategic metal representing a unique mix of discovery and resource development potential. Invested in a portfolio of gold projects in mining and mineral-rich Newfoundland, MLK's plan is to capitalize on the province's ranking as one of the world's top 10 mining jurisdictions and expand into a long-life, financially sound gold-mining company.
We seek Safe Harbor.
JonnyRBuck12
2 years ago
MLK Gold Ltd. Arranges $1,000,000 Non-Brokered Financing
2022-10-07 05:15 ET - News Release
Windsor, Nova Scotia, CANADA, Oct. 07, 2022 (GLOBE NEWSWIRE) -- MLK Gold Ltd. (CSE:MLK) ("MLK Gold" or the "Company") announces that it has arranged for a non-brokered private placement to raise up to $1,000,000 (the "Offering").
The non-brokered private placement involves the sale of up to 10,000,000 units (each a "Unit") at a price of $0.05 per unit for each non-flow-through unit, and up to 7,142,857 flow through units (each a "FT Unit") and critical metals flow through units (each a "CFT Unit") at a price of $0.07 per FT Unit or CFT Unit, as the case may be, for aggregate gross proceeds of $1,000,000. Each Unit will comprise one common share and one share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder to purchase a further non-flow-through common share at a price of $0.10 per share for a period of 12 months. Each FT Unit will consist of one flow-through share and one Warrant. Each CFT Unit will consist of one critical metals flow through share and one Warrant.
The Company may pay finder's fees at 6% on all or a portion of the Offering subject to the policies of the CSE.
Proceeds of the placement will be directed toward exploration on the Company's mineral properties in Atlantic Canada with emphasis on the Lithium 360 Property in Newfoundland, and on which proceeds generated from the CFT Units will be expended. A portion of the cash proceeds raised from the sale of non-flow-through Units will be directed at general working capital. The Offering is subject to regulatory approval and all securities issued in connection with the Offering will be subject to applicable resale restrictions.
About MLK Gold Ltd.
Founded in 2018, MLK Gold Ltd. is quickly emerging as one of Atlantic Canada's exciting resource exploration companies offering exposure to gold and the strategic metal representing a unique mix of discovery and resource development potential. Invested in a portfolio of gold and lithium projects in mining and mineral-rich Newfoundland, MLK's plan is to capitalize on the province's ranking as one of the world's top 10 mining jurisdictions and expand into a long-life, financially sound mineral resources company.
Additional information about the Company and its activities may be found on the Company's website at www.mlkgold.com and under the Company's profile at www.sedar.com.
For additional information or to arrange an interview, please contact:
William (Bill) Fleming
Executive Chairman, MLK Gold Ltd.
59 Payzant Drive
P.O. Box 657, Windsor
Nova Scotia, Canada, B0N 2T0
Phone: 902.448.0716
Email: Bill.Fleming@manewagi.com
JonnyRBuck12
2 years ago
2022-09-14 15:01 ET - News Release
Mr. William Fleming reports
MLK GOLD LTD. (CSE: MLK) EXTENDS AND RE-PRICES WARRANTS AND PROVIDES UPDATE ON ITS FLAGSHIP CALEDONIA BROOK GOLD PROJECT IN CENTRAL NEWFOUNDLAND
Following its last board of directors meeting, MLK Gold Ltd. agreed to extend 23,724,285 warrants, that were due to expire on Sept. 30, 2022, for a period of two years. In addition to setting a new expiry date to September 30, 2024, the Directors also elected to reset the price of each warrant from its original $0.10 each to $0.07 each. Insiders of the Issuer hold less than 10% of the warrants being amended.
The Board of Directors expects to undertake a new round of financing in late September. Use of proceeds will be used for general operations and to follow up on several additional areas with anomalous geochemical data in rocks, tills, and soils at the Caledonia Brook property. MLK Gold's immediate exploration focus is on the Viper Zone where the Company is close to drill-ready on its Newfoundland and Labrador permit-approved targets.
The helicopter airborne Versatile Time-Domain Electromagnetic ("VTEM(TM) Plus, or "VTEM") geophysical survey over MLK Gold's flagship, Caledonia Brook gold property was flown by Geotech Ltd. of Aura, Ontario between February 27, and March 17, 2022. The program was designed to acquire important depth profile information that could be used to augment a 2004 Fugro Dighem( v ) airborne geophysical survey carried out for Rubicon Minerals Corp. MLK's 2022 airborne VTEM survey, which overlaps part of this earlier survey, was cut short after flying 621 kilometres of the planned 944 kilometres because of windy weather conditions and consequential budget constraints. The survey data is being further interrogated by a third-party geophysical expert. Results of this work is expected in October.
A glacial till sampling program to identify gold grains across a portion of the property corresponding to the VTEMtm survey was completed by Overburden Drilling Management Limited ("ODM") from Ottawa, ON, and MLK Gold, with subsequent geochemical analyses carried out on heavy mineral concentrates ("HMC") from each till sample. The concentrates were provided by ODM to Activation Laboratories Ltd. ("ActLabs") from Ancaster, ON where the analyses were completed. The maximum number of gold grains separated from the till survey was 17, with all being reshaped, however the next largest count was 14 grains of gold and 11 of these grains were pristine, suggesting a minimal displacement distance. The highest gold assay reported in parts per billion ("ppb") by ActLabs on the till HMC samples were, 3160, 2550, 2470, 2100, 1380, 1010, and 1000 ppb Au from samples CBT-21-017, 063, 058, 038, 072, 074, and 048, respectively. In terms of corresponding gold grain counts reported by ODM, these equate to the following, 9, 1, 2, 1, 4, 17, and 4 grains, respectively. ActLabs reported 708 ppb for sample CBT-21-004 that recovered 14 gold grains. The data confirm that four of the ten named zones (from north to south: Viper, Goose, Iceman, and Maverick Zones) have anomalous concentrations of gold. These zones also show anomalous rock geochemistry (2388 ppb Au) and soil geochemistry (192 ppb Au).
Till sampling has not yet been completed on the southwesterly part of the property where anomalous soil samples are present on the Slider Zone (132 ppb Au), Charlie Zone (115 ppb Au), and Cougar Zone (55 ppb Au). The Slider Zone is the western extension of the Maverick Zone, and the Cougar Zone is the western extension of the Charlie Zone.
Qualified Persons and 43-101 Disclosure
Paul Smith, P. Geo., President & CEO for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.
About MLK Gold Ltd.
Founded in 2018, MLK Gold Ltd. is quickly emerging as one of Atlantic Canada's exciting resource exploration companies offering exposure to gold and the strategic metal representing a unique mix of discovery and resource development potential. Invested in a portfolio of gold projects in mining and mineral-rich Newfoundland, MLK's plan is to capitalize on the province's ranking as one of the world's top 10 mining jurisdictions and expand into a long-life, financially sound gold-mining company.
JonnyRBuck12
2 years ago
MLK Gold Ltd. Due Diligence Report
*NOTE* This is a highly speculative microcap stock and requires either a capital injection or joint venture partnership to move forward. Based on the company monthly filing via the CSE(Canadian Stock Exchange) website, there could be a deal in the works, more information is posted below. Please do your own due diligence before buying any equities.
Price: $0.035
Common Shares: 40.1 Million
Management Holdings: 8%
June 2022 Company Presentation: https://www.mlkgold.com/wp-content/uploads/2022/06/2022-05-23-MLK-CalBk-Slide-Deck_BOD_v5MK.pdf
*Note* As per the company presentation, MLK is on the same gold trend as Sokomon and Newfound Gold. They are also in the same district as Sokomon’s lithium deposit.
CSE Septemeber 5th 2022 Update:
https://webfiles.thecse.com/2022_08_31_CNSX_Form_7_MLK_August_2022.pdf?MCo9OoiwNI.m7xI4cCtnq.qQyj5HM9ag
*Note* Small insider buying was done in August 2022.
MLK Gold Ltd. had several discussions with companies either wanting to assist with our promotional efforts or to enter into one or more agreements on several of the Company’s assets. An onsite visit/tour took place with one property and confidential data sharing occurred with two other properties. An external company hired to find partner companies to move MLK assets forward more quickly is ongoing. Finalization of several reports consumed much of the activities for the month. Further expertise is being sought to examine the recent VTEM geophysical survey report at the company’s Caledonia Brook gold project. The Company is also in discussions with a contractor to carry out airborne geophysics over the 360 Lithium project. During the month of August 2022, management was focused on site visits, report preparations, and promotional communications. The Company still has one exploration permit to acquire and is working with regulators and a special interest group to obtain the necessary approvals. Discussions are ongoing with third parties pertaining to increasing the level of exploration on all its assets in Newfoundland and Nova Scotia.
Company Description - MLK is a Canadian based exploration company offering exposure to gold and the strategic metal representing a unique mix of discovery and resource development potential. The Company is geographically focused on the island of Newfoundland, a mining-friendly jurisdiction on the east coast of Canada and the province of Nova Scotia.
Financials
Total Assets: $1,324,847
Total Liabilities: $308,398
Property Information
Subsequent Events
On June 9, 2022, the Company reported that after an initial data mining compilation of public government databases, the Company has added 104 lithium claims covering 2,600 hectares on its 360 Lithium Property located on the south coast of Newfoundland.
Newfoundland and Labrador
Caledonia 2 Brook property
On April 6, 2020, the Company entered into an agreement with a company controlled by a director of the Company, whereby the Company would acquire (the “Acquisition”) a 50% interest in certain mineral exploration licenses (the “Caledonia 2 Property”) in exchange for, among other things, a 50% interest in the Manuels property (the “Caledonia 2 Agreement”). The Acquisition was subject to the Company acquiring 100% of the Manuels Property. In addition, the Company has also committed to issuing 200,000 share purchase warrants, making a cash payment of $30,000, providing a 2% NSR in the Manuels property and incurring $1,000,000 in exploration expenses before December 31, 2022. Furthermore, the Company also committed to issuing certain number of performance warrants dependent on results of geological surveys which have not yet been conducted. On February 28, 2022, the Company issued 15,000 common shares at $0.15 per share for $2,250 pursuant to a purchase agreement for two adjacent licences (10 claims) at Caledonia Brook. The Vendors also receive a 1% NSR which the Purchaser has the right to purchase 50% of (0.5%) for at any time for an aggregate of $250,000.
On September 20, 2021, the Company and the vendor amended the Caledonia 2 Agreement, and the Company acquired a 100% interest in the Caledonia 2 Property by making a cash payment of $75,000 (paid) and issuing 1,490,000 common shares of the Company (issued). The Company has granted to the vendor a 0.5% NSR royalty on the Caledonia 2 Property and a 0.5% NSR on the
Manuels Property.
The titles to the mineral licenses comprising the Caledonia 2 Property were held by the vendor as at November 30, 2021, and are in the process of being transferred to the Company
Manuels Property
On April 6, 2020, the Company entered into a purchase agreement with New Dawn Resources Inc. and the sole director of New Dawn Resources Inc. (the “Optionors”), whereby the Company acquired a 100% interest in 21 mineral claims under three mineral licenses known (“Manuels Property”). As consideration, the Company issued 83,333 common shares and agreed to pay an aggregate of $72,000 in ten equal annual installments of $7,200 to the Optionors. During the year ended November 30, 2020, $7,200 was paid to the Optionors. During the year ended November 30, 2020, $7,200 was paid to the Optionors. The Manuels Property is subject to an NSR of ranging from 0.5% to 1% of commercial production. The Company can purchase 0.5% of the NSR for $500,000 at any time.
Little River Property
The Company holds an undivided 100% interest in 20 mineral claims in the Little River area of southern Newfoundland known as the Golden Eye Project. There is a 2.0% NSR on the property of which 1% can be purchased for $1,500,000.
Nova Scotia
Highfield Property
During the year ended November 30, 2020, the Company entered into agreements with two parties (the “Optionors”) to acquire a 100% interest in six mineral claims under one mineral exploration license in Nova Scotia (the “NS Agreements” and the “Highfield Property”). Pursuant to the terms of the NS Agreements, the Company has issued 583,333 common shares. The title of the mineral exploration license was held under the name of the Optionor. In addition, the Company also issued 35,000 common shares as finders’ fee to a third party. The Highfield Property is subject to two NSRs of 0.75% and 2.0%, of which the Company can purchase up to 0.5% of the first, and 0.5% of the second for $250,000 and $50,000, respectively. Furthermore, the Company will also be required to make a royalty payment of $25,000 within one year of a feasibility report which identifies commercial viability of the property
The title to the exploration license comprising the Highfield Property was held by an officer of the Company as at May 31, 2022, and are in the process of being transferred to the Company.
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