Trillium Gold to Obtain Vital Land Package in Red Lake Mining District, Ontario
Russell Star, CEO of Trillium Gold commented, “The Willis Residence represents an critical addition to Trillium’s property package in the western Pink Lake space. It handles both the southwest extension of the NT Zone as effectively as other floor tested to be really prospective for gold with visible gold famous in outcrop sampling. As with the NT Assets, the Willis House displays many similarities to the important gold mines to the east: particularly rock varieties, constructions, mineralization and alteration. Irrespective of these attributes, the house has witnessed really minimal exploration considering the fact that the 1930’s and is a person of the handful of remaining unexplored houses in the Crimson Lake greenstone belt.”
The Willis Property is made up of thirteen contiguous patented mineral claims encompassing 229 hectares. Upon completion of the transaction, Trillium Gold will acquire 100% curiosity in the Property, subject to a 2% internet smelter returns (NSR) royalty (the “Royalty”), by finishing payments totalling $420,000, and an mixture of 400,000 prevalent shares in the money of the Firm. The frequent shares will be subject matter to a four month keep interval pursuant to applicable securities laws. Trillium Gold has the ideal to repurchase just one-fifty percent of the Royalty (1%) for thought of $1.2 million, payable in money or shares. In addition, the Firm has a correct of first refusal ought to the holders of the Royalty decide on to promote the Royalty in the future.
The complex info introduced in this information release has been reviewed and permitted by William Paterson QP, PGeo, VP of Exploration of Trillium Gold Mines, as defined by NI 43-101.
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On behalf of the Board of Administrators,
Trillium Gold Mines Inc.
President, CEO and Director
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a growth centered company engaged in the small business of acquisition, exploration and development of mineral homes situated in the Pink Lake Mining District of Northern Ontario. The Company has been expanding its holdings in the Confederation Lake and Birch-Uchi greenstone belts and has a non-binding LOI to even further consolidate its contiguous land assemblage to a lot more than 100 km in size. In addition, the Firm has passions in remarkably future qualities in Larder Lake, Ontario and the Matagami and Chibougamou places of Quebec.
Neither TSX Undertaking Trade nor its Regulation Products and services Provider (as that expression is defined in the policies of the TSX Venture Trade) accepts obligation for the adequacy or accuracy of this release.
This news release incorporates ahead-seeking info, which includes regarded and unfamiliar pitfalls, uncertainties and other things that may well lead to precise activities to differ materially from present expectation. Audience are cautioned not to position undue reliance on these ahead-on the lookout statements, which speak only as of the day of this push launch. The Company disclaims any intention or obligation, besides to the extent expected by law, to update or revise any forward-looking statements, regardless of whether as a final result of new data, potential events or or else.
Source Trillium Gold Mines Inc.
For even further details: be sure to speak to Donna Yoshimatsu, VP Company Improvement and Investor Relations at [email protected], (416) 722-2456, or [email protected]