Revival Gold
Inc. (TSXV: RVG,
OTCQX: RVLGF) (“Revival Gold” or
the “Company”), is pleased to announce that it has reached an
agreement to terminate a 1% Net Smelter Royalty (“NSR”) on sixteen
claims (the “HAI and Gold Bug Claims”) that comprised approximately
133 hectares within Revival Gold’s Beartrack-Arnett 5,800 hectare
project area.
The HAI and Gold Bug Claims were acquired by
Revival Gold in 2017 subject to a 1% NSR with an option for the
Company to buyback the 1% NSR for a price of US$2 million. The
claims are undrilled by Revival Gold and currently host no Mineral
Resources.
Revival Gold has agreed to deliver the following
in exchange for extinguishing the 1% NSR on the HAI and Gold Bug
Claims:
- C$75,000 cash
payment on closing (“Closing”); and
- 200,000 common
shares of Revival Gold (the “Shares”) issued on Closing with such
Shares subject to a hold period from the Closing date as follows:
(i) 66,666 Shares shall be tradeable after four months; (ii) 66,667
Shares shall be tradeable after twelve months; and the remaining
66,667 Shares shall be tradeable after eighteen months.
“The opportunity to terminate an NSR on
undrilled claims enhances Revival Gold’s exposure and flexibility
in advance of planned future exploration later this year,” said
President and CEO Hugh Agro.
The termination of the 1% NSR is subject to
customary closing conditions and receipt of all necessary
regulatory approvals, including TSX Venture Exchange
approval. Closing is expected by the end of August 2023
or such later date as the parties may agree.
About Revival Gold
Revival Gold is a growth-focused gold
exploration and development company. The Company is advancing the
Beartrack-Arnett Gold Project located in Idaho, USA.
Beartrack-Arnett is the largest past-producing
gold mine in Idaho. The project benefits from extensive existing
infrastructure and is the subject of a recent Preliminary
Feasibility Study for the potential restart of open pit heap leach
gold production operations.
Since reassembling the Beartrack-Arnett land
position in 2017, Revival Gold has made one of the largest new
discoveries of gold in the United States in the past decade. The
mineralized trend at Beartrack extends for over five kilometers and
is open on strike and at depth. Mineralization at Arnett is open in
all directions.
Additional disclosure including the Company’s
financial statements, technical reports, news releases and other
information can be obtained at www.revival-gold.com or on SEDAR+ at
www.sedarplus.ca.
For further information, please contact Hugh
Agro, President & CEO or Melisa Armand, Investor Relations.
Telephone (416) 366-4100 or email info@revival-gold.com.
Cautionary Statement
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 news release.
This news release includes certain
"forward-looking information" within the meaning of Canadian
securities legislation and “forward-looking statements” within the
meaning of U.S. securities legislation (collectively
“forward-looking statements”. Forward-looking statements are not
comprised of historical facts. Forward-looking statements include
estimates and statements that describe the Company’s future plans,
objectives or goals, including words to the effect that the Company
or management expects a stated condition or result to occur.
Forward-looking statements may be identified by such terms as
“believes”, “anticipates”, “expects”, “estimates”, “may”, “could”,
“would”, “will”, or “plan”. Since forward-looking statements are
based on assumptions and address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
Although these statements are based on information currently
available to the Company, the Company provides no assurance that
actual results will meet management’s expectations. Risks,
uncertainties, and other factors involved with forward-looking
statements could cause actual events, results, performance,
prospects, and opportunities to differ materially from those
expressed or implied by such forward-looking statements.
Forward-looking statements in this news release include, but are
not limited to, the timing of Closing, the receipt of all
regulatory approvals, including the approval of the TSXV, the terms
of the termination of the 1%NSR, the Company’s objectives, goals
and future plans, and statements of intent, the implications of
exploration results, mineral resource/reserve estimates and the
economic analysis thereof, exploration and mine development plans,
timing of the commencement of operations, estimates of market
conditions, and statements regarding the results of the
pre-feasibility study, including the anticipated capital and
operating costs, sustaining costs, net present value, internal rate
of return, payback period, process capacity, average annual metal
production, average process recoveries, concession renewal,
permitting of the project, anticipated mining and processing
methods, proposed pre-feasibility study production schedule and
metal production profile, anticipated construction period,
anticipated mine life, expected recoveries and grades, anticipated
production rates, infrastructure, social and environmental impact
studies, availability of labour, tax rates and commodity prices
that would support development of the Project. Factors that could
cause actual results to differ materially from such forward-looking
statements include, but are not limited to failure to identify
mineral resources, failure to convert estimated mineral resources
to reserves, the inability to maintain the modelling and
assumptions upon which the interpretation of results are based
after further testing, the inability to complete a feasibility
study which recommends a production decision, the preliminary
nature of metallurgical test results, delays in obtaining or
failures to obtain required governmental, environmental or other
project approvals, changes in regulatory requirements, political
and social risks, uncertainties relating to the availability and
costs of financing needed in the future, uncertainties or
challenges related to mineral title in the Company’s projects,
changes in equity markets, inflation, changes in exchange rates,
fluctuations in commodity and in particular gold prices, delays in
the development of projects, capital, operating and reclamation
costs varying significantly from estimates, the continued
availability of capital, accidents and labour disputes, and the
other risks involved in the mineral exploration and development
industry, an inability to raise additional funding, the manner the
Company uses its cash or the proceeds of an offering of the
Company’s securities, an inability to predict and counteract the
effects of COVID-19 on the business of the Company, including but
not limited to the effects of COVID-19 on the price of commodities,
capital market conditions, restriction on labour and international
travel and supply chains, future climatic conditions, the discovery
of new, large, low-cost mineral deposits, the general level of
global economic activity, disasters or environmental or climatic
events which affect the infrastructure on which the project is
dependent, and those risks set out in the Company’s public
documents filed on SEDAR+. Although the Company believes that the
assumptions and factors used in preparing the forward-looking
statements in this news release are reasonable, undue reliance
should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all. 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, other than as required by
law.
Revival Gold (TSXV:RVG)
過去 株価チャート
から 4 2024 まで 5 2024
Revival Gold (TSXV:RVG)
過去 株価チャート
から 5 2023 まで 5 2024