Makara Announces Termination of Option Over Davis and Paradise Valley Claims

Rhea-AI Summary

Makara Mining Corp. (CSE:MAKA)(FSE:MK0)(OTC PINK:MAKAF) has terminated its option to acquire a 60% interest in the Davis and Paradise Valley claim blocks in Nye County, Nevada. The company will refocus its efforts on the Rude Creek and Idaho Creek Properties in Yukon. This strategic shift aims to enhance resource exploration and development in areas where the company holds greater control and potential for success.

Positive

• Refocusing efforts on Rude Creek and Idaho Creek Properties may lead to enhanced resource exploration.

Negative

• Termination of the option may indicate challenges in securing interests in new claim blocks.

VANCOUVER, BC / ACCESSWIRE / August 12, 2021 / Makara Mining Corp. (CSE:MAKA)(FSE:MK0)(OTC PINK:MAKAF) ("Makara" or the "Company") announces the termination of its option (the "Option") to earn a 60% interest in the Davis and Paradise Valley claim blocks (together, the "Project") located in Nye County, Nevada. The Company intends to concentrate its efforts and resources on the Rude Creek Property and Idaho Creek Property, located in the Yukon.

About the Company

Makara Mining Corp. (CSE:MAKA)(FSE:MK0)(OTC PINK:MAKAF) is a mineral exploration company focused on the acquisition, exploration and development of gold properties. The Company is based in Vancouver, B.C. and holds options over the Rude Creek Property and Idaho Creek Property located in the Yukon and the Kenora Gold Property located in Northwestern Ontario. Additional information about the Company is available at www.makaramining.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Grant Hendrickson
Director and Chief Executive Officer
Telephone: 604-372-3707
Email: grant@makaramining.com

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, and statements respecting the Company's intention to concentrate its efforts and resources on its Yukon properties are "forward-looking statements". Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

SOURCE: Makara Mining Corp.

View source version on accesswire.com:
https://www.accesswire.com/659413/Makara-Announces-Termination-of-Option-Over-Davis-and-Paradise-Valley-Claims

FAQ

What is the recent announcement from Makara Mining Corp regarding the Davis and Paradise Valley claims?

Makara Mining Corp announced the termination of its option to earn a 60% interest in the Davis and Paradise Valley claim blocks.

What properties will Makara Mining focus on after terminating its option in Nevada?

After the termination, Makara Mining will concentrate on the Rude Creek Property and Idaho Creek Property, located in Yukon.

What stock symbol is associated with Makara Mining Corp?

The stock symbol for Makara Mining Corp is MAKAF.

When was the press release regarding the termination of the option published?

The press release was published on August 12, 2021.

What does the termination of the option imply for Makara Mining Corp's strategy?

The termination suggests a strategic shift towards properties in Yukon, where the company may have stronger exploration potential.