C2C Gold Completes Tag Property Sale Agreement With Engineer Gold Mines Ltd.

Rhea-AI Summary

C2C Gold Corp. has finalized the sale of its interest in the Tag property in British Columbia to Engineer Gold Mines Ltd. for $200,000 in cash and 2 million common shares. Additionally, C2C Gold retains a 1% net smelter return royalty on the property. This transaction reflects C2C's strategy of optimizing its asset portfolio as it focuses on the acquisition and development of mineral projects in Newfoundland, where it holds significant land in the Central Newfoundland Gold Belt.

Positive

• Received $200,000 in cash from the sale of the Tag property.
• Acquired 2 million common shares of Engineer Gold Mines Ltd.
• Retained a 1% net smelter return royalty interest on the Tag property.

Negative

• None.

VANCOUVER, British Columbia, April 01, 2021 (GLOBE NEWSWIRE) -- C2C GOLD CORP. (CSE: CTOC; OTCQB: CTCGF) is pleased to announce the completion of the sale of its interest in the Tag property, located in British Columbia, to Engineer Gold Mines Ltd. As consideration for the sale the Company received $200,000 in cash and 2,000,000 common shares of Engineer. In addition the Company retained a 1% net smelter return royalty interest on the property.

About C2C Gold Corp.
C2C Gold Corp is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland, Canada. The Company holds the Badger, Millertown, and Barrens Lake projects, which cumulatively cover an area of 1,151 km² with road access and proximity to communities and power lines. All projects lie within the Central Newfoundland Gold Belt and provide a large land position in a top mineral exploration jurisdiction. Mineral development in Newfoundland has advanced significantly with increased exploration and development activities throughout the province. C2C also holds one of the largest land packages, with several prominent projects, within the prolific White Gold and Klondike districts in Canada’s Yukon.

For additional information:
Lori Walton, Chief Executive Officer
(604)757-7180
info@c2cgold.com
www.c2cgold.com

FAQ

What is the significance of C2C Gold Corp's sale of the Tag property?

The sale allows C2C Gold Corp to optimize its asset portfolio while retaining a royalty interest in the property.

What financial considerations did C2C Gold receive from the Tag property sale?

C2C Gold received $200,000 in cash and 2 million common shares from Engineer Gold Mines Ltd.

What are C2C Gold Corp's primary areas of focus?

C2C Gold Corp focuses on mineral project acquisition and development in Newfoundland and holds significant land in the Central Newfoundland Gold Belt.

What royalty interest does C2C Gold Corp retain after the sale?

C2C Gold Corp retains a 1% net smelter return royalty interest on the Tag property.