Gold’n Futures Reports Signing a US$3.0 Million Stock Deal For 90% of Its Brady Gold Project in Newfoundland

Rhea-AI Summary

Gold’n Futures Mineral Corp. (OTC: GFTRF) has signed an agreement to sell 90% of its interest in the Brady Gold Project in Newfoundland to Beaver Gold Corp. The deal will provide Gold’n Futures with shares valued at US$3 million, enhancing its stake in Beaver Gold while retaining a 10% interest in the Brady Property. The Brady Gold Project includes significant exploration potential, with previous drilling defining a gold zone over 300 meters. Gold’n Futures aims to use proceeds for further exploration of its Hercules project.

Positive

• Signing of agreement for sale of 90% interest in Brady Gold Project.
• Securing US$3 million in share value from Beaver Gold.
• Retaining a 10% interest in Brady Property, providing continued exposure to project growth.
• Significant exploration potential in Brady Gold Project with defined gold zone.

Negative

• Potential dilution of shareholders' interest due to share issuance from Beaver Gold.

VANCOUVER, British Columbia, Jan. 05, 2022 (GLOBE NEWSWIRE) -- Gold’n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (the "Company” or “Gold’n Futures”) is pleased to report that it has signed a purchase and sale agreement (the “Agreement”) with a wholly owned Canadian subsidiary of Beaver Gold Corp. (“Beaver Gold”) for the sale of 90% of the Company’s interest in the Brady Gold Project located in the Province of Newfoundland (the “Brady Property”).

Beaver Gold is a Nevada-based company focused on the development of junior mining projects. In consideration for the purchase of the Brady Property interest, Beaver Gold shall issue to the Company such number of common shares of Beaver Gold as is equal to US$3.0 million divided by the price per share at which it closes its current non-brokered private placement financing. Subsequent to the financing, Beaver Gold intends on listing it’s common shares on the NASDAQ with a coincident initial public offering.

“With the sale of an interest in the Brady Property, Gold’n Futures has secured two important assets - being a significant shareholding in Beaver Gold and a retained 10% interest in a developing the Brady Property. In addition, the US$3.0 million share consideration received for the Brady Property represents a material return on our investment in Newfoundland. It is our intent to harvest the value of the Beaver Gold shares and to utilize the proceeds for the continuing exploration and development of the Company’s Hercules gold project and for the working capital of the Company.”

Commented, Stephen Wilkinson, President and CEO

The Brady Gold Project

The Project is located 50 kilometres south of the town of Grand Falls – Windsor in central Newfoundland and is approximately 80 kilometres southwest of the New Found Gold Corp. – Queensway gold project. The Brady Property comprises two mining licenses, 031339M and 27408M that include 38 claims covering approximately 950 hectares. The Reid Gold Zone is the main area of exploration and mineralization within the Project.

The Reid Gold Zone is classified as an intrusion-hosted style of gold mineralization. Several episodes of diamond drilling totaling 30 diamond drill holes and 6,350 metres of core have defined the zone over a strike length of 300 metres, a width of 250 metres and to a vertical depth of 225 metres. The zone is reportedly open along strike and to depth.

As of September 30^th, 2021, Gold’n Futures reported a total of $861,348 invested in the Brady Property including both acquisition costs and exploration expenditures. To accelerate its acquisition of its 100% ownership in the Brady Gold Project, the Company has issued a further 2.5 million shares to the vender at a deemed price of $0.075 per share.

Qualified Person

The scientific and technical content of this press release has been prepared, reviewed and approved by Mr. Walter Hanych, P. Geo., who is a Qualified Person under NI 43-101 regulations and is a director of the Company.

About Gold’n Futures Mineral Corp.

Gold’n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M) (OTC: GFTRF) is a Canadian based exploration company focused on advancing its Hercules gold project. The Hercules is located 200 kilometres northeast of Thunder Bay, Ont., in the townships of Elmhirst and Rickaby, within the Thunder Bay North Mining District. The Project is in the heart of the Beardmore – Geraldton gold mining camp, the 4^th largest gold camp in Canada and is 40 km west of the Hardrock-Greenstone gold mine development. The property lies within an Archean greenstone belt that extends from the Longlac area in the east to Lake Nipigon in the west, a distance of about 130 kilometres and consists of 475 contiguous claim cells (10,052 ha). From the historical work completed on the property, the Company has built an extensive database including reconnaissance grab samples; channel samples; a variety of geophysical surveys; and a drill hole database that includes historical drilling totalling in the order of 537 holes with more than 107,000m of drill core. With surface grab samples grading up 10,374 g/t gold and channel samples up to 32.96 g/t gold across 11.6 m, the Hercules gold zones offer top tier targets for the expansion of its historical resources.

Gold’n Futures commenced its inaugural diamond drill program in December, 2021 with a planned 14 holes totalling 2,200 m.

For more information, please visit our website at: www.goldnfuturesmineralcorp.com

For further information

Stephen Wilkinson,
President and CEO
Email: contact@goldnfutures.com

The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. There is no assurance the private placement, property option, change of board or reinstatement of trading referred to above will close on the terms as stated, or at all. The Company disclaims any intention or obligation to revise or update such statements.

FAQ

What recent agreement did Gold’n Futures Mineral Corp. sign?

Gold’n Futures signed an agreement to sell 90% of its interest in the Brady Gold Project to Beaver Gold Corp.

What value will Gold’n Futures receive from the sale of the Brady Gold Project?

Gold’n Futures will receive shares from Beaver Gold Corp. valued at US$3 million.

What is the retained interest of Gold’n Futures in the Brady Gold Project?

Gold’n Futures will retain a 10% interest in the Brady Gold Project after the sale.

How will Gold’n Futures utilize the proceeds from the sale?

The proceeds will be used for the exploration and development of the Hercules gold project.

What exploration results have been reported for the Brady Gold Project?

The Brady Gold Project has defined a gold zone over a strike length of 300 meters.