VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 19, 2017) - Sanatana Resources Inc. ("Sanatana" or the "Company") (TSX VENTURE:STA) has received regulatory approval from the TSX Venture Exchange for the three mineral option agreements (the "Option Agreements") announced in the Company's news releases dated February 7, 2017 (a copy of which is available under the Company's SEDAR profile available at www.sedar.com).
Under the terms of the Option Agreements, Sanatana issued the respective optionors the first tranche of the share consideration, being an aggregate of 3,000,000 common shares, and made aggregate first tranche cash payments of $145,000. The common shares issued are subject to a hold period of four months and a day from the date of issuance as required by applicable securities law.
Peter Miles, President and CEO, stated: "Having made the first option payments, Sanatana is immediately initiating exploration on the Jackfish gold project. We will begin work on the Wahl ground for which we already have an exploration permit. The program's objective is to better define drill collar locations for a planned drill program. The current work program will include ground geophysics (magnetic and electromagnetic surveys) and geochemistry (outcrop stripping and sampling of previously discovered high-grade gold showings)."
The information in this news release was prepared under the supervisions of Troy Gill, BSc. MAIG, Exploration Manager for Sanatana. Mr. Gill is a Qualified Person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Technical Projects and has reviewed and approved the technical information disclosed in this news release.
About the Company
Sanatana Resources Inc. is a mineral exploration and development company that has optioned the Jackfish gold property in northwestern Ontario. With an experienced management team and board of directors, the Company has the ability required to identify, develop and fund economic mineral properties. Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSX VENTURE:STA).