new owner DiA MARGARET LAKE DIAMONDS ANNOUNCES OPTION OF MORRISON COPPER-GOLD PROJECT LOCATED IN OMINECA REGION OF BRITISH COLUMBIA
Margaret Lake Diamonds Inc. has entered into an option agreement dated Aug. 1, 2020, to acquire a 100-per-cent right, title and interest free of all encumbrances in the Morrison copper-gold deposit (Minfile 093M007) located 65 kilometres northeast of Smithers, B.C. In order exercise its option to acquire an undivided eighty percent right, title and interest in and to the Project (the "80% Interest"), subject to a net smelter returns royalty described below, the Company has agreed to pay cash consideration and issue share consideration to 1240089 B.C. Ltd. and 1258713 B.C. Ltd. (collectively the "Vendors") and incur exploration expenditures ("Exploration Expenditures") on the Project on the following basis: