Solstice Gold Corp. (TSXV: SGC) (“
Solstice”, “we”,
“our” or the “
Company”) is pleased to announce
that it has entered into a purchase and sale agreement (the
”
Agreement”) with HighGold Mining Inc.
(“
HighGold”) to sell a 100% interest in the Shaw
Property located in the Timmins Mining Camp in Ontario. The
property is comprised of 18 single and multi-cell claims located in
Shaw, Eldorado, and Whitney Townships, near Timmins Ontario,
located approximately seven kilometers southeast of Newmont’s Dome
Mine open pit operation.
Mike Timmins, Solstice’s Chief Executive Officer
stated, “The
agreement provides Solstice shareholders exposure
to exploration and potential new discoveries in the Timmins
Mining Camp via the royalty on the Shaw Property which will be
advanced by the exploration and development team at HighGold. This
is yet another example of how we can collaborate with other
exploration groups to unlock value through the conversion of our
property portfolio into attractive stand-alone royalties or other
project participation in prospective areas of Canada. Improving
cash inflows allow us to direct more resources to support
exploration activities at our core district-scale
exploration projects in Red Lake, Atikokan and Nunavut."
Under the Agreement, HighGold is required to
make a cash payment of $75,000 to Solstice and the Company will be
granted a 2.0% net smelter return royalty. HighGold has the right
to repurchase 1.0% of the royalty at any time for $1,500,000.
Solstice controls an extensive portfolio of
gold, copper and lithium/REE projects in Ontario which are
available for 100% sale or option. See our corporate materials
available at www.solsticegold.com for further details.
About Solstice Gold Corp.
Solstice is a gold-focused exploration company
with quality, district-scale projects in established mining regions
of Canada. Our 174 km2 Red Lake land position is located on the
northern extensions of the prolific Red Lake Gold Camp in Ontario.
RLX is approximately 45km from the Red Lake Mine Complex owned by
Evolution Mining. The Company is funded for phase one drilling in
Red Lake. Our newly formed 225km2 Atikokan Gold Project is
approximately 23km from the Hammond Reef Gold Project owned by
Agnico Eagle Mines Limited and is fully funded for a robust field
program in 2022. Our district scale Qaiqtuq Gold Project covers 886
km2 with certain other rights covering an adjacent 683 km2, hosts a
10 km2 gold boulder field and is fully permitted with multiple
drill-ready targets. Qaiqtuq is located in Nunavut, Canada, only 26
km from Rankin Inlet and approximately 7 km from the Meliadine gold
deposits owned by Agnico Eagle Mines Limited. In October 2021, the
Company acquired a royalty and property portfolio of over 80 assets
located in Ontario and Quebec.
Solstice is committed to responsible exploration
and development in the communities in which we work.
Neither 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.
On Behalf of Solstice Gold
Corp.
Mike Timmins, Chief Executive Officer
For further information on Solstice Gold Corp.,
please visit our website at www.solsticegold.com or
contact:
Phone: (604) 283-7234
info@solsticegold.com
Forward-Looking Statements and
Additional Cautionary Language
This news release contains certain
forward-looking statements (“FLS”) including, but not limited to
the exposure of Solstice shareholders to exploration and potential
new discoveries in the Timmins Mining Camp, supporting exploration
activities at the Company’s core district-scale exploration
projects, the granting of a 2.0% net smelter return royalty, and
the right of HighGold to repurchase 1.0% of the royalty at any time
for $1,500,000. FLS can often be identified by forward-looking
words such as “approximate or (~)”, “emerging”, “goal”, “plan”,
“intent”, “estimate”, “expects”, “potential”, “scheduled”, “may”
and “will” or similar words suggesting future outcomes or other
expectations, beliefs, plans, objectives, assumptions, intentions
or statements about future events or performance. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, save and except as may be required by
applicable securities laws.
Since forward-looking information address future
events and conditions, by their very nature involve inherent risks
and uncertainties. Actual results could differ materially from
those currently anticipated due to a number of factors and risks.
These include, but are not limited to, that there is no guarantee
that continued exploration at Solstice exploration projects, all of
which are at an early stage of exploration, will lead to the
discovery of an economic gold deposit, there may not be market for
the Company’s non-core properties in its property portfolio or not
a market on financial terms satisfactory to the Company, returns
may not be generated under the net smelter return royalty, HighGold
may not exercise the right to repurchase 1.0% of the royalty, the
future impacts of the COVID 19 pandemic and government response to
such pandemic, the ability of the Company to continue exploration
at its projects during the pandemic and the risk of future lack of
access to the projects as a result thereof, delays in obtaining or
failures to obtain required governmental, environmental or other
project approvals, inability to locate source rocks, inflation,
changes in exchange rates, fluctuations in commodity prices, delays
in the development of projects, regulatory approvals and other
factors. FLS are subject to risks, uncertainties and other factors
that could cause actual results to differ materially from expected
results. The Company cautions that the foregoing list of factors
that may affect future results is not exhaustive. When relying on
our forward-looking statements to make decisions with respect to
the Company, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events.
All forward-looking statements are based on the
Company’s current beliefs as well as various assumptions made by
Company management and information currently available to them.
There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ
materially from those anticipated in such statements. Forward
looking statements reflect the beliefs, opinions and projections on
the date the statements are made and are based upon a number of
assumptions and estimates that, while considered reasonable, are
inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies.
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