NMEX Provides Winnemucca Property Update

Rhea-AI Summary

Northern Minerals & Exploration Ltd. (OTC PINK:NMEX) announced the termination of its Option Agreement for the Winnemucca Mountain Gold Property due to default on certain terms. The company is currently in discussions to resolve these issues. However, management is expanding its ownership in the West Lenapah Gas Project and considering new real estate investments in Mexico. Furthermore, NMEX is evaluating acquisition opportunities to enhance shareholder value, highlighting optimism for future growth amid ongoing assessments.

Positive

• Expansion of ownership in the West Lenapah Gas Project.
• Exploring new real estate investments in Mexico.
• Evaluating multiple projects for potential acquisition to enhance shareholder value.

Negative

• Termination of the Option Agreement for the Winnemucca Mountain Gold Property due to default.

SALT LAKE CITY, UT / ACCESSWIRE / November 27, 2020 / Northern Minerals & Exploration Ltd. (OTC PINK:NMEX) announces the Company has received notice that it's Option Agreement to earn an interest in the Winnemucca Mountain Gold Property has been terminated for being in default of certain terms and conditions of the Option Agreement. Management is in discussions with the principals of the Winnemucca property to resolve any outstanding obligations.

Management is pleased to announce the Company is expanding its ownership in the West Lenapah Gas Project and is also looking at developing further real estate investments in Mexico. For further information regarding the West Lenapah Gas Project see the Company's news release dated November 4, 2020.

Management is also pleased to report that it is evaluating a number of projects for acquisition to further build shareholder value. More news regarding these projects as they develop will be announced as developments occur.

About NMEX:

Northern Minerals & Exploration ("NMEX") is an emerging publicly traded company focused on oil and gas exploration & production, real estate development projects in Mexico and acquiring revenue producing assets.

Management is very optimistic about the future of NMEX as it is consistently evaluating opportunities for growth and expansion of the Company.

Contact:

Noel Schaefer
Phone: 801-885-9260
Email: cerronrs@msn.com

Forward Looking Statements: Statements which are not historical facts contained in this release are forward looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," "seeking," and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements. The information herein is subject to change without notice. Northern Minerals & Exploration Ltd. shall not be liable for technical or editorial errors or omissions contained herein.

SOURCE: Northern Minerals & Exploration Ltd.

View source version on accesswire.com:
https://www.accesswire.com/618364/NMEX-Provides-Winnemucca-Property-Update

FAQ

What is the recent news regarding Northern Minerals & Exploration (NMEX)?

NMEX announced the termination of its Option Agreement for the Winnemucca Mountain Gold Property due to default, while expanding its operations in the West Lenapah Gas Project.

What are Northern Minerals & Exploration's plans for the future?

The company plans to further expand ownership in existing projects and explore new acquisition opportunities to build shareholder value.

What can investors expect from NMEX after the termination of the Winnemucca Property agreement?

Investors should note the termination but also take into account the company's ongoing expansion in other projects and its efforts to evaluate new acquisitions.

How does the termination of the Option Agreement affect NMEX's stock performance?

The termination may create short-term concerns, but the company's expansion initiatives and project evaluations could lead to potential long-term value.