"On trend from Lynx discovery"OSK announced this morning OSK-W-17-805 at Lynx 2 with 5.0 metres gold at 12.4 g/t.
The ducks continue to line up in a nice row here.
Beaufield closes acquisition of Windfall East project
Beaufield Resources Inc (2) (C:BFD)
Shares Issued 180,476,519
Last Close 6/6/2017 $0.20
Wednesday June 7 2017 - News Release
Mr. Ronald Stewart reports
BEAUFIELD RESOURCES CLOSES ACQUISITION OF THE WINDFALL EAST PROJECT AND PRIVATE PLACEMENT
Beaufield Resources Inc. has closed its acquisition of a 100-per-cent interest in the 299-hectare Windfall East project from Alto Ventures Ltd. (the acquisition was announced by a news release on May 24, 2017). The property, strategically located, is adjacent to Osisko Mining Inc.'s Windfall deposit and on trend from Osisko's new Lynx discovery in Urban-Barry township in Quebec.
At closing, Beaufield paid $300,000 in cash and issued 2.75 million Beaufield shares, subject to a four-month hold period. Alto retains a 1-per-cent net smelter return (NSR) royalty on the property with a buyback provision for 0.5 per cent of the NSR royalty by Beaufield for $1-million. Beaufield also assumed and agreed to be bound by an underlying agreement in connection to an additional 2-per-cent NSR royalty held by a third party on the property.
Concurrently with this acquisition, Beaufield subscribed for 2,916,667 shares of Alto for proceeds of $350,000. This represents approximately 6.8 per cent of the outstanding shares of Alto. The private placement shares are subject to a four-month hold period.
Qualified person
This news release has been prepared by Ronald Stewart, PGeo, interim president and chief executive officer of Beaufield, and Mathieu Stephens, PGeo, vice-president of exploration and corporate development for Beaufield, the qualified person, as defined by National Instrument 43-101.