STOCK TITAN
The best stock market news and trading tools all in one place—your must-have platform for investing success.
A must-have platform for stock market information, offering the best tools and updates to supercharge your trading.
Your trusted source for the best stock market news, trading tools, and expert advice. Everything traders need, in one place.

Goldplay Signs Option Agreement To Earn Interest in Properties in the BC Golden Triangle

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

Goldplay Mining Inc. (TSXV:AUC, US/OTCQB:AUCCF) has signed an Option Agreement with Scottie Resources Corp. to acquire up to 3.75% interest in Scottie’s exploration properties in British Columbia's Golden Triangle. Goldplay is required to incur up to $1,500,000 in exploration expenses until December 31, 2022. The agreement includes provisions for a Put Right and Call Right for repurchasing interests. Goldplay holds significant gold and copper-gold projects in Canada and Portugal, providing potential for substantial mineral discoveries.

Positive
  • Option Agreement allows acquisition of up to 3.75% interest in Scottie's properties.
  • Potential to increase exploration activities with up to $1,500,000 in expenditures.
  • Significant gold and copper-gold project holdings in a high-potential mining area.
Negative
  • None.

VANCOUVER, BC / ACCESSWIRE / September 30, 2022 / Goldplay Mining Inc. (TSXV:AUC) (US/OTCQB:AUCCF), (Frankfurt:9FY), (the "Company" or "Goldplay"), is pleased to announce that it has signed an Option Agreement with Scottie Resources Corp. ("Scottie"), a company engaged in the exploration and evaluation of gold and silver properties located in the "Golden Triangle" of British Columbia, to purchase an working interest in Scottie's exploration properties (the "Option").

Terms of the Agreement

Goldplay can acquire up to 3.75% interest in the Scottie's properties by incurring up to $1,500,000 in exploration expenses until December 31, 2022. If the exploration expenses incurred amount to less than $1,500,000, Goldplay's earned interest in the Scottie's properties will be reduced proportionally.

Following the exercise of the Option, Goldplay will have the right (the "Put Right") to require Scottie to repurchase the interest earned by Goldplay by paying cash, at a price calculated by dividing the total exploration expenditures incurred by Goldplay by 1.7.

Following the exercise of the Option, Scottie will have the right (the "Call Right") to repurchase the interest earned by Goldplay by paying cash, at a price calculated by dividing the total exploration expenditures incurred by Goldplay by 1.7.

In the event the Put Right or the Call Right is exercised, Scottie may, in its sole discretion, satisfy up to $300,000 of the price for the repurchase of Goldplay's interest by issuing Goldplay common shares in the capital of Scottie.

About Goldplay Mining

Goldplay Mining is a Canadian public company listed on TSXV and in US on OTCQB. Goldplay holds large district scale gold, and copper-gold projects located in BC's Golden Triangle and southwestern BC with potential for world class mineral discoveries. The Company also holds several brownfield gold, and copper-gold projects located in Portugal with near term mining potential.

On behalf of the Board of Directors

"Chris Osterman"
CEO

For further information please contact:

Goldplay Mining Inc.
Mr. Chris Osterman
Suite 650 - 1021 West Hastings Street
Vancouver, BC V6E 0C3
E: chrisosterman@comcast.net
www.goldplaymining.ca

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the completion of the Option and the exploration and development potential of Goldplay's properties. Generally forward-looking statements can be identified by the use of terminology such as "anticipate", "will", "expect", "may", "continue", "could", "estimate", "forecast", "plan", "potential" and similar expressions. These forward-looking statements involve risks and uncertainties relating to, among other things, results of future exploration and development activities, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, changes in commodity prices and unanticipated environmental impacts on operations. Although the Company believes current conditions and expected future developments and other factors that have been considered are appropriate and that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct or enduring. Readers are cautioned to not place undue reliance on forward-looking information. The statements in this press release are made as of the date of this release. Except as required by law, the Company does not undertake any obligation to update publicly or to revise any forward-looking statements that are contained or incorporated in this press release. All forward-looking statements contained in this press release are expressly qualified by this 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 release.

SOURCE: Goldplay Mining Inc.



View source version on accesswire.com:
https://www.accesswire.com/718215/Goldplay-Signs-Option-Agreement-To-Earn-Interest-in-Properties-in-the-BC-Golden-Triangle

FAQ

What is the significance of Goldplay Mining's Option Agreement with Scottie Resources Corp.?

The Option Agreement allows Goldplay Mining to earn up to 3.75% interest in Scottie's properties, enhancing its mining portfolio in the Golden Triangle.

How much does Goldplay Mining need to invest to acquire interest in Scottie's properties?

Goldplay Mining must incur up to $1,500,000 in exploration expenses by December 31, 2022.

What rights does Goldplay Mining have after exercising the Option Agreement?

Goldplay will have a Put Right to sell back its interest and Scottie has a Call Right to repurchase that interest under specific terms.

What are the main projects held by Goldplay Mining?

Goldplay Mining holds large gold and copper-gold projects in British Columbia and several brownfield projects in Portugal.

What is the stock symbol for Goldplay Mining?

Goldplay Mining is traded under TSXV:AUC and US/OTCQB:AUCCF.

IBERO MNG CORP

OTC:AUCCF

AUCCF Rankings

AUCCF Latest News

AUCCF Stock Data

2.71M
62.42M
18.49%
Other Precious Metals & Mining
Basic Materials
Link
United States of America
Vancouver