Toronto, Ontario--(Newsfile Corp. - December 14, 2023) - Stratabound Minerals Corp. (TSXV: SB) (OTCQB: SBMIF) ("Stratabound" or the "Company") announces that it has completed the previously announced shares for debt transaction with R.W. Tomlinson Ltd. The Company entered into a Shares for Debt Amending Agreement with R.W. Tomlinson Ltd., pursuant to which it has agreed to issue 57,063,722 common shares at $0.025 per share to settle a Company debt in the amount of $1,426,593.05 owing to R. W. Tomlinson Ltd. under a note the Company assumed with the acquisition of California Gold Mining Inc. and its subsidiaries.
The Company shares issued are subject to a statutory 4-month hold period.
There are no finders' fees or commissions payable in connection with the Debt Settlement transaction.
About Stratabound Minerals Corp.
Stratabound Minerals Corp. is a Canadian exploration and development company with grassroots and advanced exploration properties in highly prospective and safe mining jurisdictions.
Its Golden Culvert and Win Projects, Yukon, covering 99.5 km2 across a 27-km strike length, are situated in a district-scale, high-grade-gold-mineralized trend within the southern portion of the Tombstone Gold Belt. Gold deposits and occurrences within the Belt include Fort Knox, Pogo, Brewery Creek and Dublin Gulch, and Snowline Gold's Valley target on its Rogue property in the Selwyn Basin.
Its McIntyre Brook Project, New Brunswick, covering 120 km2 and a 17-km strike length in the emerging Triple Fault Gold Belt, is surrounded by Puma Exploration's Williams Brook Project (5.55 g/t Au over 50m) and is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project.
The Company is also advancing its Fremont Gold development project in the historic Mother Lode Gold Belt of California where 50,000,000 oz of gold has been produced. Fremont, located 500km north of Equinox Gold's Castle Mountain and Mesquite mines, has a PEA with an after-tax NPV of USD $217MM, a 21% IRR, 11-year LOM, averaging 118k ounces per annum at USD $1,750 gold. The project hosts an NI 43-101 resource of 1.16 MMoz at 1.90 g/t Au within 19.0 MMt Indicated, and 2.02 MMoz at 2.22 g/t Au within 28.3 MMt Inferred. The MRE evaluates only 1.4 km of the 4 km strike length of the Fremont property that features 4 gold-mineralized zones.Significantly, three step-out holes at depth hit structure, typical of orogenic deposits that often occur at depth. Fremont is located on private landin Mariposa, the original gold rush county and is 1.5 hours from Fresno, California. The property has year-round road access and is close to airport and rail. Please refer to the Fremont Gold project PEA dated Apr 4, 2023 under NI 43-101 guidelines. The technical report has been reviewed and approved by independent "Qualified Persons" Eugene Puritch, P.Eng., FEC, CET, and Andrew Bradfield, P.Eng. both of P&E, and Travis Manning, P.E. of KCA.
The Company also holds a pipeline of early-stage exploration projects including the critical mineral Captain Cobalt-Copper-Gold Deposit in New Brunswick and the Dingman Gold Project, Ontario.
For more information, please visit the company's website at www.stratabound.com or contact:
Gary Nassif
Senior Vice President, Director
info@stratabound.com
+1 (416) 915-4157
Kevin Shum
Investor Relations
kevin@jeminicapital.com
+1 (647) 725-3888 ext 702
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of fills release.
WARNING: The Company relies upon litigation protection for "forward-looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, failure to obtain regulatory, exchange or shareholder approval, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/191102
