Good News for Minera Alamos shareholders they will also own Minera Alamos will purchase Sabre Gold Mines in mid- January 2025.
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Sabre Gold Announces Increase in Shareholding in Azarga Metals
Toronto, Ontario--(Newsfile Corp. - December 9, 2024) - Sabre Gold Mines Corp. (TSX: SGLD) (OTCQB: SGLDF) ("Sabre Gold" or the "Company") is pleased to announce that subject to the terms of the Option to Purchase Agreement of the Marg VMS project ("Marg Project") located in Central Yukon with Azarga Metals Corp. ("Azarga"), Azarga has issued to Sabre Gold 670,000 shares.
Prior to completion of the share issuance, Sabre Gold owned 3,388,664 common shares of Azarga, representing approximately 9.32% of the issued and outstanding shares on a non-diluted basis.
Pursuant to the Option Agreement, Azarga issued 670,000 shares to Sabre Gold at a deemed price of C$0.05 per share, for an aggregate deemed consideration of C$33,500.
Subsequently, Sabre Gold now owns 4,058,664 common shares of Azarga, representing approximately 10.04% of the issued and outstanding shares on a non-diluted basis.
If Azarga does not complete all the option maintenance payments as previously disclosed and does not exercise the option to purchase the Marg Project the option to purchase will expire and the title to the Marg Property will be transferred back to Sabre Gold by Azarga Metals.
All currency amounts are in Canadian dollars unless specified otherwise.
About Sabre Gold Mines Corp.
Sabre Gold is a near-term gold producer in North America which holds 100% ownership of both the fully licensed and permitted Copperstone gold mine located in Arizona, United States. Management intends to restart production at Copperstone in the near term. Sabre Gold also holds other investments and projects at varying stages of development.
Copperstone has approximately 300,000 ounces of gold in the Measured and Indicated categories, and approximately 197,000 ounces of gold in the Inferred category. Additionally, Copperstone has considerable existing operational infrastructure as well as significant exploration upside. Sabre Gold is led by an experienced team of mining professionals with backgrounds in exploration, mine building and operations.
For further information please visit the Sabre Gold Mines Corp. website: (www.sabre.gold).
https://www.newsfilecorp.com/release/233065/Sabre-Gold-Announces-Increase-in-Shareholding-in-Azarga-Metals