Goldplay 3.75-per-cent interest
Goldplay sells interest on B.C. properties
2022-11-15 13:14 ET - News Release
See News Release (C-AUC) Goldplay Mining Inc
Mr. Chris Osterman of Goldplay Mining reports
GOLDPLAY EXERCISES PUT OPTION TO SELL INTEREST EARNED IN BC GOLDEN TRIANGLE PROPERTIES
Goldplay Mining Inc. has exercised the put option and sold back the interest earned in the British Columbia Golden Triangle properties of Scottie Resources Corp.
Terms of the agreement
Pursuant to the initial option agreement, Goldplay acquired a 3.75-per-cent interest in the properties by incurring $1.58-million in flow-through exploration expenses. Subsequent to acquiring the interest in the properties, Goldplay made the strategic decision to focus the company's exploration efforts in the near future on its properties located in Portugal, which are seen by the company as having a higher potential. In order to make cash available for exploration activities in Portugal and other general and administrative expenses, the company has exercised the put option and sold back the 3.75-per-cent interest in the properties to Scottie for a total of $900,000, which was paid in cash by Scottie to Goldplay.
About Goldplay Mining Inc.
Goldplay Mining is a Canadian public company listed on the TSX Venture Exchange and in the United States on the OTCQB. Goldplay holds several brownfield gold and copper-gold projects located in Portugal with near-term mining potential.
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