Enforcer Gold Corp is earning a 100% interest in the Montalembert Gold Project from Globex Mining Enterprises Inc. (TSX: GMX, FSE: GIMN, OTCQX: GLBXF). The 7,300-hectare property is located 125 km west of Chibougamau in Quebec’s prolific Abitibi greenstone belt. The property lies 5 km from a paved highway and hydro-electric power and has easy access to skilled labour, fuel, accommodation and other industry-related services, allowing for relatively low exploration costs. Enforcer has committed over $2.2M to fund its 2017 exploration program that is expected to run uninterrupted through late fall 2017.



 

Latest News Release

Enforcer Gold Announces $5m Amendment to Option Agreement on the Montalembert Gold Property

 

Enforcer Gold Corp. has signed an amendment agreement with Globex Mining Enterprises Inc. amending the terms of the option agreement on the Montalembert gold property dated Nov. 16, 2016.

 

The Amendment Agreement provides for a $100,000 reduction in the cash payment on the second-year anniversary date of the Option Agreement, a $100,000 increase in the cash payment on the third-year anniversary date and a $5,000,000 reduction in the aggregate exploration expenditures on the property over the five-year term of the Option Agreement. The Effective Date of the Amendment Agreement is Nov. 10, 2017.

 

Pursuant to the amendment agreement, the company must pay the following cash payments to Globex:

  • $500,000 on or before 24 months of the Effective Date of the Option Agreement;
  • $1,600,000 on or before 36 months of the Effective Date of the Option Agreement.

Additionally, the company must incur aggregate exploration expenditures of $10,000,000 on the Montalembert Property as follows:

  • $1,000,000 in exploration expenditures to be completed on or before the 1st anniversary of the Effective Date of the Option Agreement;
  • an additional $1,000,000 in exploration expenditures to be completed on or before the 2nd anniversary of the Effective Date of the Option Agreement;
  • an additional $1,000,000 in exploration expenditures to be completed on or before the 3rd anniversary of the Effective Date of the Option Agreement;
  • an additional $2,000,000 in exploration expenditures to be completed on or before the 4th anniversary of the Effective Date of the Option Agreement; and
  • an additional $5,000,000 in exploration expenditures to be completed on or before the 5th anniversary of the Effective Date of the Option Agreement.

Except as provided above, all other terms and conditions of the Option Agreement shall continue to have the same effect and force as though the parties had not entered into this Amendment Agreement.

 

Enforcer has paid the first-year anniversary cash payment of $300,000 to Globex and is issuing 2,000,000 common shares of Enforcer to Globex pursuant to the Agreement.

 

About Enforcer Gold Corp

 

Enforcer Gold Corp is earning a 100% interest in the Montalembert Gold Project from Globex Mining Enterprises Inc. (TSX: GMX, FSE: GIMN, OTCQX: GLBXF). The 7,300-hectare property is located 125 km west of Chibougamau in Quebec's prolific Abitibi greenstone belt. The property lies 5 km from a paved highway and hydro-electric power and has easy access to skilled labour, fuel, accommodation and other industry-related services, allowing for relatively low exploration costs.

 

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.

 

 

Steve Roebuck, President & CEO

T: (647) 496-7984

C: (905) 741-5458

E: contact@enforcergold.com

 

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This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment.

 

Richard Mills has based this document on information obtained from sources he believes to be reliable but which has not been independently verified.

 

Richard Mills makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of Richard Mills only and are subject to change without notice. Richard Mills assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission.

 

Furthermore, I, Richard Mills, assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information provided within this Report.

 

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