Kesselrun Resources Completes Acquisition of Additional Claims for its Bluffpoint Project

Rhea-AI Summary

Kesselrun Resources completes acquisition of mineral claims adjacent to Bluffpoint gold project in Ontario.

Positive

• Acquisition of mineral claims completed.
• Company paid $6,000 in cash and issued 400,000 common shares.
• Vendors given 1% royalty with $500,000 buy-down option.

Negative

• None.

Thunder Bay, Ontario--(Newsfile Corp. - October 3, 2023) - Kesselrun Resources Ltd. (TSXV: KES) (OTCQB: KSSRF) ("Kesselrun" or the "Company") is pleased to announce that it has completed the acquisition of a 100% interest to four mineral claims adjacent to the Bluffpoint gold project located in Northwestern Ontario from two arm's length parties.

As consideration, the Company paid to the vendors a total of $6,000 in cash and issued 400,000 common shares at closing. In addition, the vendors were given a 1% royalty with a $500,000 buy-down option to eliminate the 0.5% royalty. The common shares issued are subject to a statutory hold period expiring four months and a day from the date of issue.

For further details regarding the Agreement, please refer to the Company's news release dated September 13, 2023.

About Kesselrun Resources Ltd.

Kesselrun Resources is a Thunder Bay, Ontario-based mineral exploration company focused on growth through property acquisitions and discoveries. Kesselrun's management team possesses strong geological and exploration expertise in Northwest Ontario. For more information about Kesselrun Resources, please visit www.kesselrunresources.com.

For additional information please contact:

Kesselrun Resources Ltd.

Michael Thompson, P.Geo., President & CEO
807.285.3323
michaelt@kesselrunresources.com

Corporate Communications
1.866.416.7941 information@kesselrunresources.com

Forward-Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Kesselrun, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, dependence upon regulatory approvals, the execution of definitive documentation, the availability of financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/182860