Guskin Gold (OTCQB:GKIN) Announces Joint Venture and Partnership Agreement with Danampco Company Limited

Rhea-AI Summary

Guskin Gold Corp. (OTCQB:GKIN) has announced a Joint Venture Partnership Agreement with Danampco Company Limited for precious metal exploration in Ghana. The agreement grants Guskin a 70% ownership of the Kukuom Concession, spanning 156 square kilometers. Guskin will finance the exploration and issue 500,000 restricted shares at a value of $1.00 per share based on milestones. This venture replaces a previous agreement, enhancing Guskin's property access and overall ownership percentage.

Positive

• Secured a 70% ownership in the Kukuom Concession, increasing control over the asset.
• The partnership with DCL provides access to a 156 square kilometers expansive area for exploration.
• Issuing 500,000 restricted shares at a value of $1.00 could motivate performance based on milestones.

Negative

• The need for financing to begin exploration introduces uncertainty regarding the timing and success of the project.

SAN JOSE, CA / ACCESSWIRE / February 1, 2022 / Guskin Gold Corp. (OTCQB:GKIN) ("Guskin Gold" or the "Company") is pleased to announce it has entered into a Joint Venture and Partnership Agreement with Danampco Company Limited ("DCL") for gold and other precious metal exploration and mining activities in Ghana, West Africa.

Per the Agreement DCL granted the Company an exclusive seventy (70%) percent ownership interest in the Kukuom Shewn Edged Pink Concession (the "Kukuom Concession").

The Kukuom Concession covers a total surface area of one-hundred fifty-six (156) square kilometers and is located between the cities of Goaso and Bibiani in the Ahafo District of Ghana.

As consideration for the Partnership, the Company shall provide all financing ("Financing"), to be remitted in accordance with a work program and budget, necessary to begin exploration of the Kukuom Concession.

Additionally, the Company shall issue DCL five-hundred thousand (500,000) restricted common shares of the Company's common stock, at a per share valuation of $1.00 per share, where such shares shall be issued based on certain milestones, which are set forth in the JV Operating Agreement.

As previously announced, the Company entered into an agreement with African Exploration and Mining Group Ltd. relating to a one square kilometer claim within the Kukuom Concession, that agreement has since been terminated and replaced by the Agreement with DCL. The Agreement with DCL provides the Company access to the entire property parcel and also increases the Company's aggregate ownership percentage.

About Guskin Gold Corp.

Guskin Gold Corp. (OTCQB:GKIN) is a junior mining company publicly traded in the United States, with its head office in Santa Clara, California. Guskin is focused on gold exploration and alluvial mining in Ghana, the number one gold producer in Africa and seventh largest gold producing country in the world. The company's leadership team is world-class. Many are native to Ghana, all offer specialized expertise in the business of gold exploration, mining, public markets, and finance. And all are passionately committed to the success of the company, our partners, and investors. For additional information please visit www.guskingold.com.

Contact Information
Mrs. Naana Asante
Chief Executive Officer
Tel: + (408) 766-1511
naana.asante@guskingold.com
www.guskingold.com

Forward-Looking Statements and Disclosure

This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with the exploration and exploitation of the Kukuom Concession, new mineral and/or gold projects, securing necessary financing, the future of the U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations pertaining to the mining and exploration of mineral properties in Ghana and internationally. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.

SOURCE: Guskin Gold Corp.

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https://www.accesswire.com/686550/Guskin-Gold-OTCQBGKIN-Announces-Joint-Venture-and-Partnership-Agreement-with-Danampco-Company-Limited

FAQ

What is the significance of the Joint Venture Agreement between Guskin Gold and Danampco Company Limited?

The agreement allows Guskin Gold to gain 70% ownership of the Kukuom Concession, enhancing its exploration capabilities in Ghana.

How large is the Kukuom Concession?

The Kukuom Concession covers an area of 156 square kilometers.

What is the value of the restricted shares issued by Guskin Gold to Danampco?

Guskin Gold will issue 500,000 restricted shares at a valuation of $1.00 per share based on certain milestones.

When was the Joint Venture Agreement with Danampco Company Limited announced?

The agreement was announced on February 1, 2022.

What does the venture agreement mean for Guskin Gold's market position?

The agreement strengthens Guskin Gold's market position by increasing its ownership and control over valuable mining assets in a leading gold-producing country.