Kermode Resources options Slesse Creek
2023-06-22 07:39 ET - News Release
Mr. Peter Bell reports
KERMODE OPTIONS SLESSE CREEK PROJECT IN BC
Kermode Resources Ltd. has optioned the Slesse Creek project as per the terms announced May 10, 2023.
The project land position covers 1,567 hectares. The claim numbers are 1103855, 1104184, 1102836, 1102889, 1103856, 1104185, 1102758, 1101588, 1101879, 1102837, 1101878.
TERMS OF THE PURCHASE OPTION Exploration Cash Securities commitments Exchange approval $0 4,000,000 shares $0 Year one $0 4,000,000 shares $0 Year two $0 9,000,000 shares $0
There are no cash payments and no work commitments. There is a 1-per-cent royalty with a $1-million buydown to eliminate the royalty and a 10-per-cent sale participation right for 10 years. There shall be an area of interest clause whereby the terms of this deal shall apply to any contiguous property that shall be acquired by either party or any property acquired within a five-kilometre radius.
All shares issued pursuant to the option agreement will be subject to resale restrictions under applicable securities legislation and the rules of the TSX Venture Exchange. The price of shares issued shall be one cent.
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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