Kermode expands land position under Caycuse option
2022-12-09 00:05 ET - News Release
Mr. Peter Bell reports
KERMODE UPDATES "CAYCUSE RIVER" LETTER OF INTENT
Kermode Resources Ltd. has updated the terms of the proposed option agreement for the Caycuse copper project. The land position has been expanded and now covers 1,532 hectares with mineral tenure 1099718, Vancouver Island, British Columbia. The proposed transaction is subject to TSX Venture Exchange approval.
Kermode may acquire 100 per cent.
In addition, the deal shall have the following features:
- 1-per-cent net smelter return royalty payable to the group, where 1 per cent can be bought down for $1-million entirely or in part;
- 10-per-cent sales participation right for any transaction in next 10 years;
- An area of interest clause that includes any contiguous claims;
- No spending obligations or work commitments.
About Kermode Resources Ltd.
Kermode is a junior mining company hunting for exploration opportunities around the world.
We seek Safe Harbor.
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