InvestmentPitch Media Video Discusses Inflection Resources’ Signing of Non-Binding Heads of Agreement with AngloGold Ashanti for Multi-Year Exploration Earn-In Across Portfolio of Copper-Gold Projects in Australia

Rhea-AI Summary

Inflection Resources (CSE:AUCU) has entered a non-binding Heads of Agreement with AngloGold Ashanti for a potential multi-year Earn-in Agreement on its copper-gold projects in New South Wales, Australia. AngloGold will conduct due diligence within 60 days and may fund up to AUD$10 million in exploration over three years, with a minimum of AUD$6 million earmarked for Phase I. The agreement allows AngloGold to earn up to a 65% interest in selected projects through staged investments totaling AUD$135 million. Inflection's projects are located in the Macquarie Arc, a significant copper-gold region.

Positive

• Inflection secures a partnership with AngloGold Ashanti, enhancing exploration potential.
• AngloGold committed to a AUD$10 million exploration budget over three years.
• Phase I exploration will include a minimum expenditure of AUD$6 million, providing immediate funding.
• Potential for AngloGold to earn up to a 65% interest in select projects, increasing shareholder value.

Negative

• None.

VANCOUVER, British Columbia, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Inflection Resources (CSE:AUCU) (FSE:5VJ) (OTCQB:AUCUF) has signed a non-binding Heads of Agreement with AngloGold Ashanti that outlines the principal terms under which AngloGold may enter into a multi-year Earn-in Agreement across a number of Inflection’s copper-gold projects in New South Wales, Australia.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. The video is available for viewing on “InvestmentPitch.com” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Inflection” in the search box.

Inflection, a technically driven mineral exploration company, is systematically exploring for large copper-gold and gold deposits in the northern interpreted extension of the Macquarie Arc, where the company has a 100% project ownership of more than 7,000 sq kilometres of licenses. The Macquarie Arc, part of the Lachlan Fold Belt in New South Wales, is Australia’s premier porphyry copper-gold province being host to Newcrest Mining’s Cadia deposits, the Northparkes deposits and Evolution Mining’s Cowal deposits plus numerous exploration prospects including Boda, the discovery made by Alkane Resources.

Under the terms of the Heads of agreement, AngloGold, (www.AngloGoldAshanti.com) a global gold mining company listed on the New York, Johannesburg and Australian stock exchanges, has a 60-day period to complete further due diligence and enter into a binding Earn-in Agreement with the Inflection.

Following execution of the Earn-in Agreement, AngloGold shall fund a total of AUD$10 million on exploration expenditures across the portfolio of projects within three years as part of a Phase I exploration program. Phase I, intended to drill test a wide range of large intrusive-related, copper-gold exploration targets including Duck Creek, will include a minimum expenditure commitment of AUD$6 million. Upon completion of Phase 1, the original AUD$10 million advanced by AngloGold, shall be converted into common shares of Inflection equal to 9.9% of the then issued outstanding common shares.

Phases II and III are staged earn-in’s whereby AngloGold may select up to five Designated Projects in which to earn up to a 65% interest in each by funding exploration expenditures of AUD$7 million over three years in Phase II and a further AUD$20 million over two years in Phase III on each Designated Project, for cumulative maximum expenditures of AUD$135 million.

AngloGold retains the further right to earn an additional 10% interest in each Designated Project in Phase IV by completing a Pre-Feasibility Study solely funded by AngloGold within an additional three-year period; and granting Inflection, subject to existing underlying royalties, a 2% or 1% net smelter royalty.

Alistair Waddell, President and CEO, stated: “The execution of this Heads of Agreement with AngloGold Ashanti is a major milestone for the Company. We are extremely pleased to enter into such a large-scale exploration and development agreement that will provide the necessary capital to drill test and potentially develop our large portfolio of copper-gold porphyry targets across our 100%-owned land position within the northern extension of the Macquarie Arc. We fully anticipate recommencing drilling immediately following the execution of the Earn-in Agreement, all of which will now be fully funded by AngloGold. Planned drilling will include the completion of deep drill holes at Duck Creek where earlier drilling intercepted strong alteration the Company interprets to be indicative of the upper parts of an alkalic copper-gold porphyry system.”

Inflection uses cost-effective mud-rotary drilling to cut through unmineralized post-mineral sedimentary cover before transitioning to diamond core drilling once basement is reached. It then completes a series of short diamond drill holes into bedrock rather than just one or two deep and more expensive diamond drill holes.

Multiple data points gained from alteration and mineral geochemistry is then being used to vector additional deeper holes, a proven exploration strategy in the covered segments of the Macquarie Arc having been directly responsible for the discovery of the Northparkes and Cowal deposits. It is well documented that mineralized bodies elsewhere in the belt, in particular porphyry and intrusive related systems, have large district-scale alteration and geochemical halos or footprints surrounding them.

The shares are trading at $0.18. For more information, please visit the company’s website www.InflectionResources.com, contact Alistair Waddell, President and CEO, at alistair@InflectionResources.com, or Brennan Zerb, Investor Relations Manager, at 778-867-5016 or by email at BZerb@InflectionResources.com.

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Inflection Resources has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com

FAQ

What is the significance of the agreement between Inflection Resources and AngloGold Ashanti?

The agreement is crucial as it provides Inflection with significant funding for exploration, allowing potential development of its copper-gold projects.

How much is AngloGold investing in Inflection Resources' projects?

AngloGold is committed to an initial investment of AUD$10 million over three years for exploration activities.

What is the timeframe for AngloGold to enter the binding agreement with Inflection Resources?

AngloGold has a 60-day period to complete due diligence and enter into a binding Earn-in Agreement.

What are the phases of exploration planned under the agreement?

The agreement includes multiple phases: Phase I with a minimum of AUD$10 million, Phase II with AUD$7 million, and Phase III with AUD$20 million for designated projects.

Where are Inflection Resources' copper-gold projects located?

The projects are located in the northern extension of the Macquarie Arc, New South Wales, an area known for significant copper-gold deposits.