Chimata Gold acquires Troilus North property
2017-10-12 16:07 ET – News Release
Mr. Robert Rosner reports
CHIMATA GOLD SIGNS ACQUISITION AGREEMENT FOR A 100% INTEREST IN THE TROILUS NORTH MINING PROPERTY
Further to its news release of Sept. 27, 2017, Chimata Gold Corp. has entered into a mining property acquisition agreement with Greg Exploration Inc. and has concluded the acquisition of a 100-per-cent undivided interest in the Troilus North property. The property is made up of 139 contiguous claims totalling 7,502.6 hectares, located 160 kilometres north of the town of Chibougamau in the province of Quebec.
The total purchase price is $250,000 with an initial payment of $25,000 due to the vendor upon closing, $25,000 due within 90 days following signing of the agreement, $50,000 due on or before Sept. 30, 2018, $50,000 due on or before March 31, 2019, $50,000 due on or before Sept. 30, 2019, and $50,000 due on or before March 31, 2020. In addition, Chimata has granted a 1.5-per-cent net smelter royalty to the vendor; 0.5 per cent of which can be repurchased by Chimata for $500,000.
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