Apogee Minerals Announces Amendment to Option Agreement Vancouver, British Columbia, Feb. 18, 2022 (GLOBE NEWSWIRE) -- Apogee Minerals Ltd. (“Apogee” or the “Company” or the “Optionee”) (TSXV: APMI) has amended the option agreement (the “Agreement”) with Eagle Plains (the “Optionor”) for the Pine Channel Property (or the “Property”).
Under the new terms of the Agreement, Apogee has been granted an extension on the majority of the first year exploration expenditures from June 30th to December 31st, 2022, with the aggregate exploration expenditure amount over the course of the option remaining the same. The new exploration expenditure schedule is as follows:
- CAD $100,000 on or before June 30, 2022;
- An additional $500,000 on or before December 31, 2022;
- An additional $500,000 on or before December 31, 2023;
- An additional $800,000 on or before December 31, 2024; and
- An additional $1,600,000 on or before December 31, 2025.
In consideration of the amendment, the Apogee shall pay the Optionor CAD $40,000 by February 28, 2022. All the other terms and conditions of the Agreement remain unchanged.
About Apogee Minerals Ltd.:
Apogee Minerals Ltd. is a mineral exploration company. Our goal is to build shareholder value through mineral project acquisitions and advancement, as well as new mineral discoveries.
www.apogeemineralsltd.com
Apogee Minerals Announces Amendment to Option Agreement for the Pine Channel Property