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Barkerville to buy 12 Cariboo claims for cash, shares
2018-04-24 18:27 ET - News Release
Mr. Chris Lodder reports
BARKERVILLE ENTERS INTO AGREEMENT TO PURCHASE MINERAL CLAIMS
Barkerville Gold Mines Ltd. has entered into an agreement to purchase 12 mineral claims covering an area of 5,300 hectares, located in the Cariboo gold district in British Columbia.
The purchased claims, which are contiguous with other mineral tenures currently held by Barkerville, are accessible by highway, exploration trails and partially deactivated logging roads. The area, which includes the Lightening Creek alluvial field, has been explored intermittently since the 1870s with such recent exploration consisting of geological mapping, geochemical sampling, diamond drilling and geophysics. Most of the area's major creeks have also hosted placer operations. The acquisition of these claims is in line with Barkerville's current strategy to acquire neighbouring claims of geological importance.
As consideration for the acquisition, the corporation has agreed to pay the vendor a cash purchase price of $300,000 in immediately available funds and to issue the vendor an aggregate of three million common shares in the capital of the corporation. The common shares issuable in connection with the acquisition will be subject to a four-month-and-one-day hold period in accordance with applicable securities legislation. The acquisition remains subject to TSX Venture Exchange approval.
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