SASKATOON, Saskatchewan, Feb. 10, 2022 (GLOBE NEWSWIRE) -- 1844 RESOURCES INC. (TSX-V:EFF) (the “Company” or “1844”) announces that it has entered into a purchase agreement (the "Agreement") to acquire a 100% undivided interest in 25 additional claims on its Native Copper Project from two separate private vendors (each a “Vendor”).
As consideration, each Vendor will receive 200,000 common shares (400,000 common shares in total) and a 2% net smelter returns royalty, 1% of which may be retired for a one-time payment of $500,000.
Additionally, 1844 has stake 70 new cells to the southwest of the green stone belt, bringing its position to a total of 208 claims, including 7 known copper showings (see figure):
- Ruisseau Bleu
- T.Nelson 1 and 2
- Fer à Cheval-1
- Ruisseau Cantin
- Riviere St-Jean South
- Route 102 S-W
- Jean-Baptiste Beaudin
About Native Copper: 1844 Resources has 100% undivided interest in 208 claims in the Southern part of the Gaspé Peninsula, to the North-West of the municipality of Chandler and Northeast of Port-Daniel. The project now extends on 98sq/km and 7 known showings are part of the property.
About 1844 Resources Inc.: 1844 is an exploration company with a focus in strategic and energetic metals and underexplored regions “Gaspé, Chibougamau Québec”. With a dedicated management team, the Company’s goal is to create shareholder value through the discovery of new deposits.
Bernard-Olivier Martel, P. Geo, the Company's Director of Exploration, is a qualified person (as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects) and has reviewed and approved the technical disclosure contained in this news release.
1844 RESOURCES INC.
(signed) “Sylvain Laberge”
Sylvain Laberge
President and CEO
514.702.9841
slaberge@1844resources.com
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
