Barkerville Gold Mns Ltd BGMZF

News: NSR closes & acquisition of Yanks Peak claims

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Barkerville closes royalty sale; to acquire 10 claims

2017-04-19 13:53 ET - News Release

Mr. Chris Lodder reports

BARKERVILLE ANNOUNCES CLOSING OF SALE OF 0.75% NSR ROYALTY AND ACQUISITION OF ADDITIONAL MINERAL CLAIMS IN CARIBOO MINING DISTRICT

Barkerville Gold Mines Ltd. has closed the sale of a 0.75-per-cent net smelter return (NSR) royalty to Osisko Gold Royalties Ltd. on the company's Cariboo gold project for aggregate proceeds of $12.5-million, as previously announced on March 27, 2017.

Barkerville has also entered into a mining claim acquisition agreement, pursuant to which it has agreed to acquire a 100-per-cent interest in the Yanks Peak claims comprising 10 mineral claims located in the Cariboo mining district, British Columbia, in exchange for an aggregate of $50,000 and 250,000 common shares of Barkerville issuable to the vendors of the claims.

The issuance of the common shares pursuant to the mining claim acquisition agreement will be subject to receipt of all necessary approvals, including that of the TSX Venture Exchange, and will be subject to a statutory hold period of four months and one day from the date of issuance.

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