Tudor Gold Responds to Seabridge Gold News Release
Rhea-AI Summary
Tudor Gold Corp. (TSXV: TUD) has responded to Seabridge Gold's press release regarding a license of occupation granted by the Government of British Columbia. Tudor Gold states that it has not received any copy of the license or been informed of the reasons for granting it. The company maintains that:
1. Section 50(1)(a)(ii) of the Land Act restricts any disposition of Crown lands from interfering with mineral tenure rights.
2. No grant of mineral reserve can grant mineral title rights or interfere with pre-existing rights.
Tudor Gold intends to take all necessary steps to protect its mineral tenure rights, property rights, and shareholders. This may include legal action for damages if required. The company will review its options once it receives official documentation and reasons for the license grant from the government.
Positive
- Tudor Gold is taking a proactive stance to protect its mineral tenure rights and shareholder interests
- The company is prepared to take legal action if necessary to defend its rights
Negative
- Potential conflict with Seabridge Gold over mineral rights and land use
- Uncertainty regarding the impact of the license of occupation on Tudor Gold's operations
- Possible legal expenses and resources required to address the situation
News Market Reaction – TDRRF
On the day this news was published, TDRRF declined 1.61%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - September 25, 2024) - Tudor Gold Corp. (TSXV: TUD) (FSE: H56) (the "Company" or "Tudor") in response to Seabridge Gold's press release issued on September 25, 2024, Tudor Gold states that the Company has not been provided by the Government of British Columbia with any copy of the license of occupation nor has it been informed of the reasons for granting the license of occupation as announced this morning by Seabridge Gold Inc.
Tudor Gold takes the position now and maintains its position that section 50(1)(a)(ii) of the Land Act restricts any disposition of Crown lands, including this license of occupation, from interfering with mineral tenure rights. https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/96245_01#section50
Secondly, Tudor Gold takes the position that no grant of any mineral reserve pursuant to the Mineral Tenure Act can grant mineral title rights to any party and cannot interfere in any way with pre-existing rights. This applies to both conditional mineral reserve grants and non-staking mineral reserve grants.
Tudor Gold shall take all steps necessary to protect its mineral tenure rights, its rights to property, and its shareholders.
Those rights will be protected as necessary, including if it is required an action for damages for a statutory taking.
Upon receipt of the Government of British Columbia's official copy of the license of occupation, and the governmental decision makers' reasons, if any, for the granting of the license of occupation, and allowing for consideration and advice on those matters, Tudor Gold shall take such steps as are necessary to protect its mineral tenures, rights to property and its shareholders.
About Tudor Gold
TUDOR GOLD CORP. is a precious and base metals exploration and development company with claims in British Columbia's Golden Triangle (Canada), an area that hosts producing and past-producing mines and several large deposits that are approaching potential development. The 17,913 hectare Treaty Creek project (in which TUDOR GOLD has a
ON BEHALF OF THE BOARD OF DIRECTORS OF
TUDOR GOLD CORP.
"Ken Konkin"
Ken Konkin
President and Chief Executive Officer
For further information, please visit the Company's website at www.tudor-gold.com or contact:
Chris Curran
Vice President of Investor Relations and Corporate Development
Phone: (604) 559 8092
E-Mail: chris.curran@tudor-gold.com
Or
Patrick Donnelly
Vice President of Capital Markets
Phone: (604) 559 8092
E-Mail: patrick@tudor-gold.com
Neither 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 release.
Cautionary Statements regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the completion and anticipated results of planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company's planned exploration activities will be completed in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by 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 forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224540
FAQ
What is Tudor Gold's response to Seabridge Gold's press release on September 25, 2024?
How does Tudor Gold plan to protect its mineral tenure rights?
What legal provisions is Tudor Gold citing in response to the license of occupation?
What potential actions might Tudor Gold take regarding the license of occupation issued on September 25, 2024?
