Hinterland Acquires Williams Brook Gold Property in New Brunswick
May 01 2014 - 10:13AM
Marketwired
Hinterland Acquires Williams Brook Gold Property in New Brunswick
VAL D'OR, QUEBEC--(Marketwired - May 1, 2014) - Hinterland
Metals Inc. (TSX-VENTURE:HMI) ("Hinterland") is pleased to announce
that it has entered into an option agreement at arm's length with
two local prospectors (the "Vendors") whereby Hinterland may earn a
100% interest in the three-claim (5,868-hectare) Williams Brook
property (the "Property") located 90 kilometres west of Bathurst,
New Brunswick.
Under the terms of the agreement, Hinterland may earn a 100%
interest in the Property by paying $50,000 cash and issuing
1,000,000 shares to the Vendors over a three year period. In
addition Hinterland will pay the Vendors an annual cash bonus
equivalent to 5% of exploration costs incurred on the Property up
to a maximum of $50,000 in any given fiscal year. The Property will
be subject to a 2.5% royalty interest. Hinterland will have the
right to purchase 1.0% of the royalty interest for $1 million and
will have a right of first refusal on the remaining 1.5%. The
agreement is subject to approval by regulatory authorities in
compliance with applicable securities legislation. Hinterland
intends to start exploration work on the Property with geochemical
sampling and geophysical surveys in May 2014 with the goal of
developing drill targets for 2015.
Mark Fekete, P.Geo is the designated "qualified person" as
defined in Section 1.2 in and for the purposes of National
Instrument 43-101 that reviewed and approved the technical content
of this release.
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 this release. This release may contain forward-looking
statements that are subject to known and unknown risks and
uncertainties that could cause actual results to vary materially
from targeted results. Such risks and uncertainties include those
described in the Company's periodic reports including the annual
report or in the filings made by the Company from time to time with
securities regulators. The Company undertakes no obligation to
publicly release the result of any revision of these
forward-looking statements to reflect events or circumstances after
the date they are made or to reflect the occurrence of an
unanticipated event.
Shares Issued 24,894,614
Hinterland Metals Inc.Mark
FeketePresident1-819-354-5244info@hinterlandmetals.comwww.hinterlandmetals.com
Hinterland Metals Inc. (TSXV:HMI)
Historical Stock Chart
From May 2024 to Jun 2024
Hinterland Metals Inc. (TSXV:HMI)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Hinterland Metals Inc. (TSX Venture Exchange): 0 recent articles
More Hinterland Metals Inc. News Articles