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E2Gold Asserts Exploits Discovery Breached NDA Agreement; E2 Assessing All Options
Newsfileยท 2025-07-28 12:30
Core Viewpoint - E2Gold Inc. claims that Exploits Discovery Corp. breached a non-disclosure agreement (NDA) by optioning the Hawkins property from Pavey Ark Minerals, and is pursuing remedies including unwinding the agreement or seeking compensation [1][2]. Group 1: NDA Breach Details - The NDA prohibited Exploits from acquiring any interest in claims within 2 km of E2Gold's existing mineral properties for a period of 2 years, which has not yet elapsed since the agreement [2]. - Exploits announced the optioning of the Hawkins property on May 13, 2025, which is before the 2-year anniversary date of March 24, 2027 [2]. Group 2: Company Response and Strategy - E2Gold's President and CEO, Eric Owens, emphasized that the actions of Exploits are contrary to the essence of the NDA, indicating a lack of forthrightness [2]. - The company is reviewing its business strategies and exploring alternative project opportunities, including potential merger and acquisition scenarios [2]. Group 3: Company Background - E2Gold Inc. is a Canadian gold exploration company with a 541 claim exploration property located adjacent to the Hawkins Property, situated in north-central Ontario, approximately 140 km east of the Hemlo Gold Mine [3].