Equity Metals to Acquire 100% of the Arlington Gold Property
Equity Metals (TSXV: EQTY) has received TSX Venture Exchange approval for its option agreement with Origen Resources to acquire a 100% interest in the Arlington Property, comprising nine claims totaling 3,583.89 ha in British Columbia's Boundary District.
The company has already paid $80,000 ($30,000 for drill permit bond reimbursement) and issued 944,686 shares valued at $200,000 to Origen. To complete the acquisition, Equity must pay an additional $50,000, issue 2 million shares, and spend $250,000 on exploration within one year. Origen will retain a 2% net smelter returns royalty, with Equity having the option to purchase 1% for $1 million.
Initial work plans include soil sampling, geological mapping, prospecting, and possible trenching, followed by drilling in 2025.
Equity Metals (TSXV: EQTY) ha ricevuto l'approvazione dalla TSX Venture Exchange per il suo accordo di opzione con Origen Resources per acquisire un interesse del 100% nel Arlington Property, che comprende nove concessioni per un totale di 3.583,89 ha nel Boundary District della Columbia Britannica.
L'azienda ha già pagato $80.000 ($30.000 per il rimborso del deposito per il permesso di trivellazione) e ha emesso 944.686 azioni per un valore di $200.000 a Origen. Per completare l'acquisizione, Equity deve pagare ulteriori $50.000, emettere 2 milioni di azioni e spendere $250.000 in esplorazioni entro un anno. Origen manterrà una royalty del 2% sui proventi netti da fusione, con Equity che ha l'opzione di acquistare l'1% per $1 milione.
I piani di lavoro iniziali includono campionamento del suolo, mappatura geologica, prospezione e possibile scavo, seguiti da trivellazioni nel 2025.
Equity Metals (TSXV: EQTY) ha recibido la aprobación de TSX Venture Exchange para su acuerdo de opción con Origen Resources para adquirir un interés del 100% en el Arlington Property, que comprende nueve concesiones que totalizan 3,583.89 ha en el Distrito de Boundary de Columbia Británica.
La empresa ya ha pagado $80,000 ($30,000 para reembolso de la fianza del permiso de perforación) y ha emitido 944,686 acciones valoradas en $200,000 a Origen. Para completar la adquisición, Equity debe pagar un adicional de $50,000, emitir 2 millones de acciones y gastar $250,000 en exploración dentro de un año. Origen retendrá una regalía del 2% sobre los ingresos netos de la fundición, con Equity teniendo la opción de comprar el 1% por $1 millón.
Los planes de trabajo iniciales incluyen muestreo de suelos, mapeo geológico, prospección y posible zanja, seguidos de perforaciones en 2025.
Equity Metals (TSXV: EQTY)는 Origen Resources와의 옵션 계약에 대한 TSX 벤처 거래소의 승인을 받아 Arlington Property에서 100%의 지분을 매입하게 되었습니다. 이 부지는 브리티시컬럼비아의 Boundary District에 위치한 3,583.89헥타르의 아홉 개의 클레임으로 구성되어 있습니다.
회사는 이미 $80,000($30,000은 시추 허가 보증금 환급용)과 $200,000의 가치가 있는 944,686주를 Origen에 발행했습니다. 인수를 완료하기 위해 Equity는 추가로 $50,000을 지불하고, 200만 주를 발행하며, 1년 이내에 탐사에 $250,000을 사용할 것입니다. Origen은 2%의 순 제련소 수익 로열티를 유지하며, Equity는 $100만에 1%를 구매할 옵션이 있습니다.
초기 작업 계획에는 토양 샘플링, 지질 조사, 탐사 및 가능성 있는 도랑 파기가 포함되며, 2025년에는 시추가 진행될 예정입니다.
Equity Metals (TSXV: EQTY) a reçu l'approbation de la TSX Venture Exchange pour son accord d'option avec Origen Resources afin d'acquérir un intérêt de 100 % dans le Arlington Property, qui comprend neuf revendications totalisant 3 583,89 ha dans le district de Boundary en Colombie-Britannique.
L'entreprise a déjà payé 80 000 $ (30 000 $ pour le remboursement de la caution du permis de forage) et a émis 944 686 actions d'une valeur de 200 000 $ à Origen. Pour finaliser l'acquisition, Equity doit payer 50 000 $ supplémentaires, émettre 2 millions d'actions et dépenser 250 000 $ en exploration dans un délai d'un an. Origen conservera une redevance de 2 % sur les retours fonds nets, Equity ayant l'option d'acheter 1 % pour 1 million de dollars.
Les plans de travail initiaux comprennent l'échantillonnage du sol, la cartographie géologique, la prospection et un éventuel creusement, suivis de forages en 2025.
Equity Metals (TSXV: EQTY) hat die Genehmigung der TSX Venture Exchange für seinen Optionsvertrag mit Origen Resources erhalten, um eine 100%ige Beteiligung am Arlington Property zu erwerben, das aus neun Ansprüchen mit insgesamt 3,583.89 ha im Boundary District in British Columbia besteht.
Das Unternehmen hat bereits $80.000 ($30.000 für die Rückerstattung der Bohrgenehmigungsgebühr) gezahlt und 944.686 Aktien im Wert von $200.000 an Origen ausgegeben. Um die Akquisition abzuschließen, muss Equity zusätzlich $50.000 zahlen, 2 Millionen Aktien ausgeben und innerhalb eines Jahres $250.000 für Erkundungen ausgeben. Origen wird eine 2%ige Lizenzgebühr aus den Nettoschmelzeerlösen behalten, wobei Equity die Option hat, 1% für $1 Million zu erwerben.
Die ursprünglichen Arbeitspläne umfassen Bodenprobenahme, geologische Kartierung, Erkundung und mögliche Ausgrabungen, gefolgt von Bohrungen im Jahr 2025.
- Option to acquire 100% interest in 3,583.89 ha of mining claims
- Property comes with existing drill permit
- Structured payment terms spread over one year
- Option to reduce royalty burden by 50% for $1 million
- Required cash payments total $130,000
- Share issuance of 2.94 million shares causing dilution
- Mandatory $250,000 exploration expenditure within one year
- 2% NSR royalty obligation
Vancouver, British Columbia--(Newsfile Corp. - December 6, 2024) - Equity Metals Corporation (TSXV: EQTY) ("Equity" or the "Company") reports that it has received TSX Venture Exchange approval of the letter agreement with Origen Resources Inc. ("Origen") dated November 5, 2024 (the "Arlington Agreement") pursuant to which the Company has the option to earn a
Pursuant to the Arlington Agreement, the Company has now paid Origen
Origen will retain a royalty of
Initial work on the project by Equity will include detailed soil sampling, geological mapping, prospecting and potentially trenching toward further refinement of the known targets to be followed by initial drilling in 2025.
See the Company's news release dated November 12, 2024 for further details on the Arlington Property and previous work completed on the project.
About Equity Metals Corporation
Equity Metals Corporation is a member of the Malaspina-Manex Group. The Company owns
Robert Macdonald, MSc. P.Geo, is VP Exploration of Equity Metals Corporation and a Qualified Person as defined by National Instrument 43-101. He is responsible for the supervision of the exploration on the Arlington Property and for the preparation of the technical information in this disclosure.
On behalf of the Board of Directors
"Joseph Anthony Kizis, Jr."
Joseph Anthony Kizis, Jr., P.Geo
President, Director, Equity Metals Corporation
For further information, visit the website at https://www.equitymetalscorporation.com; or contact us at 604.641.2759 or by email at corpdev@mnxltd.com.
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 contains forward-looking statements including statements regarding the exercise of the option to acquire a
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232722
FAQ
What is the total size of the Arlington Property that Equity Metals (EQMEF) is acquiring?
What are the payment terms for Equity Metals (EQMEF) to acquire the Arlington Property?
What royalty will Origen retain on the Arlington Property after Equity Metals (EQMEF) acquisition?
What exploration work does Equity Metals (EQMEF) plan for the Arlington Property?
