Artificial Intelligence driven Marketing Communications
Angus Ventures Inc. is pleased to announce that it has closed the previously announced (see May 13, 2020 news release) acquisition of 100% interest in the Ellen Creek Gold Property (“Ellen Creek”) from an individual vendor (the “Vendor) and of 100% interest in River Gold Property (“River Gold”) from Metalcorp Limited (“Metalcorp”).
The 100% interest in Ellen Creek, which consists of 14 mining claims, was acquired by the Company in consideration for: i) a one-time cash payment of $1,000; ii) issuing to the Vendor of 22,000 common shares of the Angus (“Common Shares”); and iii) the grant to the Vendor of a 1% net smelter return royalty on production from Ellen Creek, 50% of which can be purchased by the Company for $500,000.
The 100% interest in River Gold, which consist of 6 mining claims, was acquired by the Company in consideration for: i) a one-time cash payment of $20,000; ii) issuing 100,000 Common Shares to Metalcorp; and iii) the grant to Metalcorp of a 2% net smelter return royalty on production from River Gold, 50% of which can be purchased by the Company for $1,000,000.
The Common Shares issued in connection with the transactions described in this news release are subject to the statutory four month and a day hold period.
The Golden Sky Project
The Golden Sky Project is located within the Mishibishu Lake Greenstone Belt of Northern Ontario, an extension of the Greenstone Belt and host to the high-grade Eagle River Mine of Wesdome Gold Mines Ltd (“Wesdome”). The project is located approximately 50 kilometres west of the town of Wawa and is situated immediately between the Eagle River underground mine and the Mishi open pit mine of Wesdome. The project is host to the near-surface Dorset Gold Zone, which contains an historic estimated resource (using a 0.50 g Au/t cut-off) consisting of an indicated resource of 40,000 ounces of gold (780,000 tonnes grading 1.4 g/t Au), and an inferred resource of 180,000 ounces of gold (4,760,000 tonnes grading 1.2 g/t Au). For greater details on the Golden Sky Project please refer to the NI 43-101 technical report for the Golden Sky Project entitled, “NI 43-101 Technical Report for the Wawa Proper Ontario, Canada” dated February 18, 2020 and available on the Company’s SEDAR profile.
The scientific and technical content of this press release has been reviewed, prepared and approved by Breanne Beh, P.Geo, who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
About Angus Ventures:
Angus Ventures is a Canadian gold exploration company focused on advancing the Golden Sky Project in Ontario. The 197-square-kilometres land package is located in north-central Ontario approximately 50 kilometres west of the town of Wawa and lies between Wesdome Gold Mines’ two producing mines.
For more information, please contact:
President and Chief Executive Officer
Angus Ventures Inc.