NV Gold Announces Amended Triple T Property Lease Agreement

Rhea-AI Summary

NV Gold has amended its lease agreement for the Triple T property in Pershing County, Nevada.

As part of the amendment, NV Gold will issue 100,000 common shares at C$0.30 per share to cover an annual payment of US$30,000.

This issuance is subject to TSX Venture Exchange approval and will have a statutory hold period of four months.

Positive

• The amendment allows NV Gold to conserve cash by using shares instead of cash for the annual payment.
• Exploration rights for the Triple T property are maintained, providing ongoing potential for discovery and resource development.

Negative

• Issuing new shares may dilute existing shareholder value.
• The statutory hold period of four months could affect the liquidity of the Payment Shares.

VANCOUVER, BC / ACCESSWIRE / June 10, 2024 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that the Company has reached an agreement (the "Amendment") to amend the terms of the exploration and mining lease agreement dated June 21, 2021 between the Company's wholly-owned subsidiary, NV Gold Corporation (USA), Inc. ("NV Gold USA") and the owners of the Triple T property, pursuant to which the Company has the exclusive right to explore on and evaluate the Triple T Property in Pershing County, Nevada (the "Agreement"). Pursuant to the Amendment, the Company has agreed to issue an aggregate of 100,000 common shares of the Company (the "Payment Shares") at a price of C$0.30 per Payment Share to settle an annual payment of US$30,000 payable by NV Gold USA under the Agreement.

The issuance of the Payment Shares is subject to TSX Venture Exchange approval. The Payment Shares will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable securities legislation.

About NV Gold Corporation

NV Gold owns 100% interest in 21 mineral exploration projects in Nevada, USA, comprising 639 mining claims totaling 53.4 square kilometers (20.6 square miles). The Company is based in Vancouver, British Columbia, and is focused on delivering value through mineral discoveries in Nevada. Leveraging its expansive property portfolio, its highly experienced in-house technical team, its extensive geological data library, and the recent increase in the price of gold, 2024 is expected to be highly productive for NV Gold.

On behalf of the Board of Directors,

John Watson, President, Chairman, CEO and Director

For further information, visit the Company's website at www.nvgoldcorp.com or contact:

Freeform Communications at 604.245.0054

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statements Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, the Amendment and issuance of the Payment Shares. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.

In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will receive the necessary regulatory approval of the Amendment and issuance of the Payment Shares.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not receive the necessary regulatory approval of the Amendment and issuance of the Payment Shares.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

SOURCE: NV Gold Corporation

View the original press release on accesswire.com

FAQ

What is the new amendment to NV Gold's Triple T property lease agreement?

The amendment involves NV Gold issuing 100,000 common shares at C$0.30 per share to cover an annual payment of US$30,000.

How many shares will NV Gold issue under the new lease amendment?

NV Gold will issue 100,000 common shares.

What is the price per share for the new shares issued by NV Gold?

The price per share is C$0.30.

When is the statutory hold period for the Payment Shares issued by NV Gold?

The statutory hold period is four months from the date of issuance.

What approval is needed for NV Gold's share issuance under the lease amendment?

The issuance is subject to TSX Venture Exchange approval.