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Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G), a Canadian advanced exploration company, is focused on its district-scale Douay and Joutel gold projects in Quebec's Abitibi Greenstone Gold Belt. With a joint venture with Agnico Eagle Mines Limited, the company aims to advance its gold properties through strategic exploration and drill programs. The Douay project, which boasts an established gold resource, is a key focus for Maple Gold, with significant potential for expansion. The company's technical team is currently conducting a review and synthesis of exploration data to refine drill targets and drive exploration results. Maple Gold is well positioned to establish a new gold district in a highly prospective region.
Maple Gold Mines has initiated a 10,000-metre Phase I diamond drilling program at its Douay Gold Project in Québec, Canada. The program, expected to last 3-4 months, aims to expand and upgrade the current mineral resource with a $6.3 million exploration budget for 2025.
The drilling program will allocate 70% of resources to de-risking and expanding the Douay mineral resource estimate through strategic infill and step-out holes, while 30% will test new regional targets. Key objectives include converting Inferred Resources to Indicated Resources and testing new targets.
The company plans an additional 3,000 metres of diamond drilling at Joutel in H2 2025 to extend known high-grade gold mineralization. The program will initially focus on shallow portions of the Douay mineralizing system (<500m vertical depth) before moving to deeper exploration (>500m).
Maple Gold Mines (TSXV: MGM) (OTCQB: MGMLF) has completed its joint venture restructuring transaction, securing 100% ownership of the Douay Gold Project and Joutel Gold Project in Québec's Casa Berardi-Douay Gold Trend. The company maintains a treasury of over $8 million and focuses on resource expansion and project de-risking.
Under the transaction terms, the previous joint venture agreement with Agnico Eagle was terminated. Maple Gold received full legal title to the properties while granting Agnico Eagle a 1.0% net smelter return royalty. Additionally, Agnico Eagle received both a Construction Option and a Restart Option, each allowing them to acquire a 50% ownership interest under specific conditions.
Maple Gold Mines (TSXV: MGM) (OTCQB: MGMLF) is advancing gold projects in Quebec's Abitibi region with a substantial 400km² land package along the Casa Berardi gold trend. The company's Douay project currently holds a 3-million-ounce gold resource. The company has secured a strategic partnership and financial backing from a major gold producer and is executing a 7,500-10,000 meter drill program to expand its resource base and establish a stronger presence in Canadian gold exploration.
Maple Gold Mines has appointed Nicholas (Nick) Furber as its new Chief Financial Officer, effective immediately. Furber brings over 25 years of experience in financial services, including 10 years as CFO of Dynasty Metals & Mining during its evolution from exploration to production. He previously worked at PricewaterhouseCoopers, specializing in accounting, mergers & acquisitions. The company has also granted 850,000 stock options at $0.055 per share to employees, officers, and consultants, exercisable for five years once vested. Former interim CFO Michael Rukus will continue with the company in another role.
Maple Gold Mines (TSXV: MGM) (OTCQB: MGMLF) announced that all proposed resolutions at its Annual General and Special Meeting of Shareholders were approved, including the restructuring transaction with Agnico Eagle Mines This transaction will give Maple Gold 100% ownership of the Douay Gold Project and the Joutel Gold Project in Québec, Canada.
Key highlights:
- Shareholders approved setting the number of directors at 5
- All nominated directors were elected with over 98% approval
- The appointment of auditors was approved with 99.56% of votes
- The amended and restated equity incentive plan was approved with 86.62% of votes
- The restructuring transaction received 97.06% approval from minority shareholders
The company expects to close the restructuring transaction soon and plans to announce a fully financed Fall/Winter drilling campaign.
Maple Gold Mines (TSXV: MGM) (OTCQB: MGMLF) has strengthened its leadership team with two key appointments. Darwin Green, P.Geo. joins the Board of Directors, bringing over 30 years of mining industry experience. Ian Cunningham-Dunlop, P.Eng. becomes Vice President of Technical Services, contributing 40+ years of expertise in mineral exploration and project development.
These appointments aim to enhance the company's technical, capital markets, and corporate governance capabilities as it expands its Canadian gold exploration and development projects. The Board has also approved the grant of 1,075,000 stock options to employees, officers, directors, and consultants, with an exercise price of $0.085 per common share and a five-year term.
Maple Gold Mines (TSXV: MGM, OTCQB: MGMLF, FSE: M3G) will participate in THE Mining Investment Event of the North, a Tier I global mining conference, from June 4-6, 2024 in Québec City, Canada.
Kiran Patankar, President and CEO, will present on June 6th at 9:15 AM ET and hold investor meetings throughout the event. Interested investors can contact Jennifer Choi for registration details.
Maple Gold Mines provided an operational update on its gold projects in Canada, emphasizing cost reduction and capital preservation. The company is focused on reevaluating geological data to enhance exploration efforts. In addition, Maple Gold announced the approval of annual equity incentive grants for employees, officers, directors, and consultants.
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