TORONTO, Feb. 05, 2020 (GLOBE NEWSWIRE) -- Angus Ventures Inc. (TSX-V: GUS) (“Angus” or the “Company”) is pleased to announce that it has closed the acquisition of all of the interests of Talisker Gold Corp. (“Talisker”) in option agreements with IAMGOLD Corporation (“IAMGOLD”) and Exiro Minerals Corporation (“Exiro”) in consideration for cash payment of $22,501 (the “Acquisition of Option Agreements”). The Acquisition of Option Agreements constitutes a part of the transaction between the Company and Talisker (the “Transaction”) described in the Company’s press release dated December 27, 2019. The remaining part of the Transaction, the acquisition of Talisker’s 100%-owned claims, is subject to approval of the TSX Venture Exchange and is expected to close in the next few weeks.
THE OPTION AGREEMENTS
Pursuant to the Acquisition of Option Agreements Angus acquired the following interests:
The right to earn a 100% interest in 202 mining claims from IAMGOLD’s Mishi Property, representing 37.9-square-kilometres. Angus may earn a 100% interest in the Mishi Property by spending an aggregate of $1,500,000 on exploration expenditures before September 25, 2023.
Exiro Minerals Corporation
The right to earn a 100% interest in 188 mining claims from Exiro totaling 40.5-square-kilometres (the “Exiro Claims”) by making cash payments of $20,000 and issuing $45,000 of Angus shares (the “Exiro Option Agreement”).
As per the Exiro Option Agreement, Angus paid $20,000 and issued 182,700 common shares to Exiro to complete the 100% earn-in interest in the Exiro Claims. The claims are subject to a 2% NSR in favour of Exiro. The common shares issued were based on the 20-day VWAP of Angus's common shares on the TSX Venture Exchange ending on the last trading day prior the execution of the agreement with Exiro. The securities issued have a hold period of four months and one day from closing.
About Angus Ventures:
Angus Ventures Inc. is a Canadian gold exploration company focused on the acquisition, exploration and development of mineral properties.
For more information, please contact:
President and Chief Executive Officer
Angus Ventures Inc.
Tel: (416) 807-1311
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. This News Release includes certain "forward-looking statements" which 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 information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: failure to receive requisite approvals in respect of the Transaction, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, 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, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, 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 information 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 information, whether as a result of new information, future events or otherwise, other than as required by law.