RSS SubscribeDecember 19, 2023
EGR Exploration Ltd. (TSX-V:EGR) (“EGR” or the “Company”) is pleased to announce that it has entered into an option agreement to sell (the “Option Agreement”) the Urban Barry Gold Property in Quebec to Harvest Gold Corp. (TSXV: HVG) (“Harvest Gold”). The transaction is pending TSX Venture Exchange (the “TSXV”) approval.
Highlights of the Agreement
- Option and Sale of 122 claims and 6,879 ha, Urban Barry Gold Property located in Urban Barry/Windfall area Quebec.
- EGR will receive a total of $90,000 cash, 1,750,000 common shares of Harvest Gold, and a 2.0% NSR Royalty. Harvest Gold is also required to spend a minimum of $300,000 in exploration expenditures in the first two years.
- EGR will receive an additional 1 million common shares upon Harvest Gold announcing a 43-101 compliant resource estimate of 1 million ounces of gold in the inferred category.
- Value creation for EGR shareholders with discovery potential in a Quebec focused exploration company.