Kermode Resources signs LOI for Khrysos from Aurum
2022-04-26 15:04 ET - News Release
Mr. Peter Bell reports
"KHRYSOS GOLD" LOI from AURUM VENA MINERAL RESOURCES CORP in BC
Kermode Resources Ltd. has signed a non-binding letter of intent for a purchase option on the Khrysos gold project from Aurum Vena Mineral Resources Corp. in BC.
The Project comprises BC mineral title numbers #1088992, 1095266, 1095267, 1095268, which is approximately 750 hectares with potential for significant gold endowment. The Project has logging road access and includes the MINFILE No 082ENE082 KAMI 5 showing. The AURUM VENA MINERAL RESOURCES provide exploration services in BC.
Timing Cash Securities Exploration or Other Work Commitments Signing $12,000 4,000,000 -- Year 1 $0 4,000,000 $25,000 Year 2 $100,000 4,000,000 $500,000
There is a 2% net smelter return royalty payable to the vendor where each one percent can be bought-down for $1,500,000. The vendor has a "right of first refusal" for all exploration work contracted by Kermode over the life of the option deal. The vendor has a "Sale Participation Right" whereby they shall receive 10% of any proceeds received by Kermode from any future sale of disposition of any interest in the Property.
Peter Bell, CEO, "This is an aggressive deal with a bullish partner. Milo Mielniczuk worked for Kermode at the Mowich project in April 2022 with a three-day exploration program where he produced video content that documented his work. I think this kind of documentary content alongside field work is very important for exploration success, and I know Milo will make some inspiring videos for this KHRYSOS project. I believe this project has the potential to yield impressive gold numbers and Milo is uniquely positioned to do an exciting work program of intensive exploration of the rich surface showings identified in historical work at the project. I am grateful for the opportunity to work with Milo on this project. I know that he's wanted to get an interest in these claims for himself for years, and I am grateful to him for allowing Kermode an opportunity to share in them now with this letter of intent to option these claims."
Find a data room for the KHRYSOS GOLD project online here, https://tiny.cc/KhrysosGold
About Kermode
Kermode is a junior mining company hunting for exploration opportunities around the world.
We seek Safe Harbor.