KFR:CC - Origen Resources Enters into Agreement to Sell 100% Interest in the LGM Project
Vancouver, British Columbia--(Newsfile Corp. - June 6, 2024) - Origen Resources Inc. (CSE: ORGN) (FSE: 4VXA) (the "Company" or "Origen") is pleased to announce that it has entered into a definitive agreement with Kingfisher Metals Corp. (TSXV: KFR) ("Kingfisher") to sell a 100% interest in its LGM project located in the heart of the Golden Triangle in northern B.C.
The LGM project lies immediately south of Kingfisher's HWY 37 project and is contiguous to its southern claim boundary. The LGM project holds significant discovery potential and the combination of Kingfisher's Hwy 37 project with the LGM project will create a dominant 630 km2 land package in one of the most mineral endowed regions of British Columbia.
"The strategic sale of the LGM to Kingfisher has positioned Origen as a significant equity partner in one of the largest exploration plays in the Golden Triangle not held by a major company. Kingfisher and it's experienced team are poised to unlock the true potential of this land package and Origen is set to benefit greatly and look forward to being supporters of Kingfisher moving forward," states Gary Schellenberg, CEO.
Terms of the Agreement
Under the terms of the agreement, Kingfisher can purchase a 100% interest in the LGM project, subject to underlying royalty agreements, by issuing 3 million common shares and paying $75,000. The transaction remains subject various terms and conditions and regulatory approvals of the CSE and TSX-V.
On behalf of Origen,
Thomas Hawkins
Managing Director
For further information, please contact Gary Schellenberg, Chief Executive Officer, at 604-681-0221.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Certain of the statements made and information contained herein may constitute "forward-looking information." In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211902