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Americore Resources Corp. Amends Acquisition Terms with Nevada Hills Gold LLC
Newsfile· 2025-11-27 17:51
Core Viewpoint - Americore Resources Corp. has amended the acquisition agreement with Nevada Hills Gold LLC for certain mineral claims in Nevada, USA, indicating a strategic growth move for the company's mineral portfolio [1][5]. Summary by Sections Acquisition Terms - The new consideration for acquiring 100% of the Vendor's rights includes a US$100,000 cash payment and the issuance of 250,000 common shares upon TSX Venture Exchange approval, followed by another US$100,000 cash payment and 250,000 common shares 15 months after approval [9]. - The Vendor retains a 0.5% Net Smelter Return (NSR) royalty, which may be subject to buy-back rights by the Company in the future [2][9]. Regulatory and Compliance - All securities issued under the amended agreement will have a statutory four-month hold period as per applicable securities laws and Exchange policies [3]. - The transaction is classified as non-arm's length under Exchange policies, and no finder's fees will be paid [3]. Conditions and Strategic Importance - Completion of the acquisition is contingent upon customary conditions, including Exchange approval, with no assurance that the acquisition will be finalized as proposed [4]. - The amended agreement does not change the previously disclosed material terms of the transaction, reinforcing its strategic importance to Americore's Nevada mineral portfolio [5]. Company Overview - Americore Resources is focused on advancing the Trinity Silver Project in Nevada, which has significant expansion potential and is led by a team with a strong track record in exploration and resource development [6].
Lancaster Resources Expands Footprint in James Bay with Additional Claims at Lac Iris Polymetallic Project
Globenewswire· 2025-11-04 12:00
Core Insights - Lancaster Resources Inc. has acquired a 100% interest in additional mineral claims, "Lac Iris 4", enhancing its exploration potential in the James Bay region of Quebec [1][4] - The acquisition adds approximately 1175 hectares to Lancaster's existing mineral claims, increasing the total area in the Lac Iris Project to around 1870 hectares, representing a 170% increase [4] - The new property is strategically located near significant discoveries by Power Metallic Mines Inc., which may indicate potential for valuable mineralization [4][5] Acquisition Highlights - The Lac Iris property is located 10–11 km southeast of the Nisk and Lion discoveries and 7.5 km from previously announced Lac Iris claims [4] - The project lies along a geological trend known for lithium pegmatite deposits and polymetallic mineralization, enhancing its exploration prospects [4] - This acquisition complements Lancaster's existing Lake Cargelligo Gold Project in New South Wales, Australia, reinforcing its portfolio in precious and critical metals [5][7] Company Overview - Lancaster Resources Inc. is focused on building a portfolio of district-scale exploration assets, including the Piney Lake Gold Project in Saskatchewan and uranium projects in the Athabasca Basin [7] - The company holds a 100% interest in the Lac Iris Polymetallic Project and has an option to acquire the Trans-Taiga property [7] - Lancaster's Lake Cargelligo Gold Project covers approximately 62,300 hectares with multiple primary target zones [7]
LIFT Closes Sale of 313 Claims in Quebec to Power Metallic Mines for $700,000 in Cash and 6,000,000 Shares
Newsfile· 2025-07-14 07:05
Core Viewpoint - Li-FT Power Ltd. has successfully completed the sale of 313 claims in Quebec to Power Metallic Mines for C$700,000 in cash and 6,000,000 shares, enhancing its financial flexibility and maintaining exposure to future exploration success in the region [1][7]. Financial Details - The transaction includes a cash payment of C$700,000 and 6,000,000 shares of Power Metallic Mines, which represent approximately 2.6% of Power Metallic's outstanding shares, with an estimated market value of C$7 million [5][6]. - The shares are subject to a statutory hold period expiring on November 12, 2025, with half of them also subject to a contractual resale restriction ending on July 11, 2026 [6]. Company Strategy - The sale is part of the company's strategy to unlock value from its portfolio while strengthening its balance sheet and providing additional flexibility to advance core projects [7]. - The company continues to focus on lithium pegmatite projects, with its flagship project being the Yellowknife Lithium Project in Northwest Territories, Canada [9]. Additional Information - The company has granted 20,407 Deferred Share Units (DSUs) to independent directors in lieu of director fees for the second quarter, valued at C$2.51 per DSU [7][8]. - Each DSU represents the right to receive one common share, vesting one year from the grant date [8].
Nevada Zinc Completes Sale of Nevada Mineral Claims
Globenewswire· 2025-06-25 23:59
Core Viewpoint - Nevada Zinc Corporation has completed the sale of its mineral claims in Eureka County, Nevada to Minaurum Gold Corp, which includes both owned and leased claims, as part of a strategic move to enhance shareholder value [1][3][10]. Group 1: Transaction Details - The transaction involves 203 mineral claims, including 1 patented claim and 26 unpatented lode claims owned by the Company's subsidiary, as well as 176 unpatented lode claims held through a long-term lease [2]. - Minaurum Gold Corp exercised an exclusive option to acquire 100% of the Company's rights in the owned and leased claims by issuing 3,846,893 common shares valued at $1,000,000 and paying a cash fee of $100,000 [3]. - The transaction was approved by the Company's shareholders on February 7, 2025, and further details are available in the Company's information circular [4]. Group 2: Listing and Financial Implications - Following the transaction, the Company will not meet the Tier 2 Continued Listing Requirements of the TSX Venture Exchange, resulting in its shares being transferred to the NEX Board [5]. - The Company received a secured loan of $173,321.07 from a director, which was used for various operational expenses, and the loan has been extended until repayment is feasible [6][7]. - The loan is considered a related party transaction, and the Company is relying on exemptions from formal valuation and minority shareholder approval requirements due to the low market capitalization impact [8]. Group 3: Strategic Direction - The Company is exploring strategic alternatives to enhance shareholder value, indicating a proactive approach to its financial and operational strategy [10].
Western Star Resources Announces Non-Brokered Private Placement for Aggregate Proceeds of CAD $555,000
Globenewswire· 2025-06-03 12:30
Core Viewpoint - Western Star Resources Inc. is initiating a non-brokered Private Placement to raise up to $555,000 through the issuance of 3,700,000 units priced at $0.15 each, aimed at funding exploration and operational activities [1][3]. Group 1: Private Placement Details - The Private Placement will consist of units that include one common share and one share purchase warrant, exercisable at $0.30 for two years [2]. - An acceleration clause is included, allowing the company to shorten the warrant term to 30 days if the share price reaches CAD$0.40 for 10 consecutive trading days [2]. - All securities issued will be subject to a four-month holding period [2]. Group 2: Use of Proceeds - The net proceeds from the Private Placement will be utilized to define high-priority drill targets at the Western Star Project, along with general working capital and market awareness initiatives [3]. Group 3: Company Overview - Western Star Resources is focused on mineral exploration and development, aiming to enhance shareholder value through cost-effective exploration and strategic partnerships [5]. - The company holds nine contiguous mineral claims totaling 2,797 hectares in the Revelstoke mining division of British Columbia, located approximately 50 kilometers southeast of Revelstoke [5].