Tempus Completes Sale of Mineral Creek Project

Rhea-AI Summary

Tempus Resources Ltd. has finalized an Option/Joint Venture Agreement with Robinhood Gold Corp. for the Mineral Creek Project in British Columbia. RGC can earn a 75% interest through $2 million in work commitments by December 31, 2023. An additional 5% interest can be acquired for C$1,000,000 during the joint venture. The project spans 9,877 hectares and has a historic background in gold mining. Tempus continues to advance its Blackdome-Elizabeth Project, featuring ongoing drilling and resource estimation efforts.

Positive

• Completed Joint Venture Agreement with RGC for Mineral Creek Project.
• Potential to earn C$1,000,000 for an additional 5% interest.

Negative

• None.

PERTH, AUSTRALIA / ACCESSWIRE / March 23, 2021 / Tempus Resources Ltd. ("Tempus Resources" or the "Company") (ASX:TMR)(TSXV:TMRR)(OTC PINK:TMRFF) is pleased to announce that it has completed the Option/Joint Venture Agreement (the "Agreement") with Robinhood Gold Corp. ("RGC") originally announced on January 4, 2021, in respect of the Mineral Creek Project located in British Columbia, Canada.

The Mineral Creek Project is located on Vancouver Island, British Columbia, and was acquired by Tempus together with the Blackdome-Elizabeth Gold Project in 2019. The Property consists of 42 contiguous mineral claims totalling 9,877 hectares.

Under the terms of the Agreement, RGC can earn an initial 75% interest by completing $2.0 million in work commitments before 31 December 2023 and is the operator of the Mineral Creek Project. RGC has the option to purchase an additional 5% interest by paying Tempus Resources C$1,000,000 at any time during the Joint Venture period (see the 4 January 2021 announcement for detailed terms of the Agreement).

The Mineral Creek Project area has a long history of gold mining, dating back to the late 1800s where gold was mined from placer deposits in creeks and underground adits from gold-quartz veins.

This announcement has been authorised by the Board of Directors of Tempus Resources Limited.

For further information:
Tempus Resources Ltd
Melanie Ross, Director/Company Secretary
Phone: +61 8 6188 8181

About Tempus Resources Ltd
Tempus Resources Ltd ("Tempus") is a growth orientated gold exploration company listed on ASX ("TMR") and TSX.V ("TMRR") and OTC PINK ("TMRFF") stock exchanges. Tempus is actively exploring projects located in Canada and Ecuador. The flagship project for Tempus is the Blackdome-Elizabeth Project, a high-grade gold past producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Blackdome-Elizabeth that will form the basis of an updated NI43-101/JORC resource estimate leading to a PEA study. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects located in southeast Ecuador. The Rio Zarza project is located adjacent to Lundin Gold's Fruta del Norte project. The Valle del Tigre project is currently subject to a sampling program to develop anomalies identified through geophysical work.

Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable ‎Canadian securities ‎legislation. Such forward-looking ‎information and forward-looking statements are not ‎representative of historical facts or information or current ‎condition, but instead represent only the ‎Company's beliefs regarding future events, plans or objectives, many of ‎which, by their nature, are ‎inherently uncertain and outside of Tempus's control. Generally, such forward-looking ‎information or ‎forward-looking statements can be identified by the use of forward-looking terminology such as ‎‎"plans", ‎‎"expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", ‎‎‎"anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may ‎contain ‎statements that certain actions, events or results "may", "could", "would", "might" or "will be ‎taken", "will continue", ‎‎"will occur" or "will be achieved". The forward-looking information and forward-‎looking statements contained herein ‎may include, but are not limited to, the continuation of drilling in the Spring of 2021, the receipt of the analysis and assay results from the lab early in 2021, the ability of Tempus to successfully achieve business ‎objectives, ‎and expectations ‎for other economic, ‎business, and/or competitive factors.‎ Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Tempus to control or predict, that may cause Tempus' actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein and the other risks and uncertainties disclosed under the heading "Risk Factors" in the Company's listing application dated December 3, 2020 filed on SEDAR. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions ‎underlying the ‎forward-looking information or statements prove incorrect, actual results may vary ‎materially from those described ‎herein as intended, planned, anticipated, believed, estimated or ‎expected.‎ Although Tempus believes that the assumptions and factors used in preparing, and the expectations ‎contained ‎in, the forward-looking information and statements are reasonable, undue reliance should not ‎be placed on such ‎information and statements, and no assurance or guarantee can be given that such ‎forward-looking information and ‎statements will prove to be accurate, as actual results and future events ‎could differ materially from those anticipated ‎in such information and statements. The forward-looking ‎information and forward-looking statements contained in this ‎press release are made as of the date of ‎this press release, and Tempus does not undertake to update any ‎forward-looking information ‎and/or forward-looking statements that are contained or referenced herein, except in ‎accordance with ‎applicable securities laws. All subsequent written and oral forward-looking information and ‎statements ‎attributable to Tempus or persons acting on its behalf are expressly qualified in its entirety by this ‎‎notice.‎

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

SOURCE: Tempus Resources Ltd

View source version on accesswire.com:
https://www.accesswire.com/636870/Tempus-Completes-Sale-of-Mineral-Creek-Project

FAQ

What does the Option/Joint Venture Agreement mean for TMRFF?

The Agreement allows RGC to earn a 75% interest in the Mineral Creek Project by fulfilling work commitments, which could enhance the project's development.

When is the deadline for RGC to complete work commitments for the Mineral Creek Project?

RGC must complete the $2 million work commitments by December 31, 2023, to earn the initial 75% interest.

How large is the Mineral Creek Project owned by TMRFF?

The Mineral Creek Project consists of 42 contiguous mineral claims covering a total area of 9,877 hectares.

What is the historical significance of the Mineral Creek Project for TMRFF?

The area has a rich history of gold mining, dating back to the late 1800s, which could indicate potential resource availability.