ROUYN-NORANDA, QC, Jan. 31, 2019 /CNW Telbec/ - Visible Gold
Mines Inc. (TSXV: VGD) (Frankfurt:
3V41) is pleased to announce that it has entered into an
Asset Purchase Agreement today with Cadillac West Explorations
Inc., wholly-owned subsidiary of Liberty Gold Corp (TSX: LGD)
pursuant to which it will acquire a 40% undivided ownership
interest in 148 mining claims comprising the Cadillac East Project
located near Rouyn-Noranda in the
Province of Québec (the "Property"). Visible Gold Mines already
owns a 60% interest in the Property.
In order for Visible Gold Mines to acquire the remaining 40%
interest in the Property, Visible Gold Mines will be required to
issue 750,000 common shares to Cadillac West Explorations
Inc. The shares will be issued a deemed price of $0.06 per share.
The mining claims comprising the Property are subject to a 1.5%
net smelter return royalty in favour of the former owners of the
Property. The Asset Purchase Agreement is subject to
regulatory approval, including that of the TSX Venture
Exchange.
About Visible Gold Mines
Visible Gold Mines is a vibrant company actively exploring for
the next major gold deposit in northwestern Québec, considered one
of the world's best jurisdictions for mining and exploration.
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 the release.
SOURCE Visible Gold Mines Inc.