C.ST
Straightup pays Bounty 3rd option payment; CEO resigns
2022-07-04 13:51 ET - News Releas
Mr. Mark Brezer reports
STRAIGHTUP RESOURCES INC. RELEASES UPDATE ON RLX PROJECT
Straightup Resources Inc. has paid its third option cash payment to Bounty Gold Corp. Under the agreement, the company is required to make cash payments over four years for an aggregate amount of $150,000 for its flagship properties, including the RLX North, RLX South and Belanger projects, located within the Red Lake mining district of Ontario. Under the option agreement, the company is also required over the same period to issue shares with an aggregate value of $300,000.
In furtherance supporting the company's flagship properties, Straightup Resources is excited to report that the geological interpretation has been completed by Orix Geoscience Inc. Orix has compiled over 40 years of exploration expenditures on the RLX claims, and provided insight and guidance toward future work and resource analysis on the project.
This data from Orix will be released in the coming weeks as the company's geological team completes its review.
Commentary
President and director Mark Brezer says: "The RLX gold project is our flagship property and continues to be the company's primary focus. This new report will be pivotal, illustrating the complexities of a landscape with tremendous potential. The RLX property neighbours the former Great Bear Resources' Sobel project and lies just 20 kilometres north of their tremendous discovery at Dixie."
Additional news
The company would like to thank Rod Husband for his lead role and efforts this year. His resignation as chief executive officer has been accepted and management expresses the best luck in future endeavours.
About Straightup Resources Inc.
Straightup is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic, precious and base metal properties of merit. Straightup intends to conduct exploration on the RLX North, RLX South, Belanger and the Ferdinand gold properties, all located in the Red Lake mining division, as well as the recently acquired Bear Head gold project, located within the Meen-Dempster greenstone belt of the Uchi subprovince, approximately 80 kilometres west of the Pickle Lake gold camp. The company's recently acquired West Cat mine includes an unpatented mining claim on federal land, located in the Historic Beatty Mountain, Nevada, mining district/Nye county, Nevada, about 15 kilometres east of U.S.-95, approximately 20 kilometres from Beatty, Nev., at the base of the Bare mountain range.