(TheNewswire)
Vancouver, BC – TheNewswire - May 09, 2024 – Hanstone Gold Corp. (TSXV:HANS) (FRA:HGO) (the “Company”or “Hanstone”) is pleased to announce thatit has entered into an asset purchase agreement dated as of May 6,2024 (the “APA”) with Richard Mill (“Mill”) pursuant to whichthe Company will purchase three mineral exploration claims (the“Purchased Claims”) comprising approximately 355.37 hectares inthe Province of British Columbia
The Purchased Claims adjoin the south western portionof Hanstone’s existing Snip North property. The prospective claimsare located along the north shore of the Iskut River across from thehistoric Snip Mine owned by Skeena Resources. The area is known forits exceptional exploration potential, with such discoveries as theStu area situated on the north side of the Iskut River, where highgrade gold-bearing quartz veins occur within lapilli tuffs. ThePurchased Claims represent a unique opportunity to discover and expandHanstone’s exceptional exploration potential and futuregrowth.
Under the APA, as consideration for the PurchasedClaims the Company will issue an aggregate of 650,000 common shares ofthe Company (each, a “Share”) to Mill at a deemed price of $0.05per Share, representing an aggregate value of $32,500. In addition,the Company will grant to Mill a royalty equal to 2% of the netsmelter returns on the Purchased Claims (the “ NSR Royalty”) , provided that theCompany may purchase 1/2 of the NSR Royalty (so that a 1% royalty willremain) for total consideration of $500,000 at any time. The closing of the transaction is subject to the approval ofthe TSX Venture Exchange. The Shares, when issued, will be subject toa four month hold period. The Company will provide an updaterespecting the transaction upon receipt of approval from the TSXVenture Exchange.
About Hanstone Gold Corp
Hanstone is a precious and base metals explorer withits current focus on the Doc and Snip North Projects optimally locatedin the heart of the prolific mineralized area of British Columbiaknown as the Golden Triangle. The Golden Triangle is an area whichhosts numerous producing and past-producing mines and several largedeposits that are approaching potential development. The Company holdsa 100% earn-in option on the 1,704-hectare Doc Project and owns a 100%interest in the 3,336-hectare Snip North Project. Hanstone has ahighly experienced team of industry professionals with a successfultrack record in the discovery of gold deposits and in developingmineral exploration projects through discovery to production.
For Further InformationContact:
Ray Marks, President
+1-(778)-896-7778,ray.marks@hanstonegold.com
Or visit the Company’s website at www.hanstonegold.com
Forward Looking StatementsDisclaimer
The information contained hereincontains “forward-looking statements” within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 and“forward-looking information” within the meaning of applicableCanadian securities legislation. “Forward-looking information”includes, but is not limited to, statements with respect to theactivities, events, or developments that the Company expects oranticipates will or may occur in the future. Generally, but notalways, forward-looking information and statements can be identifiedusing words such as “plans”, “expects”, “is expected”,“budget”, “scheduled”, “estimates”, “forecasts”,“intends”, “anticipates”, or “believes” or the negativeconnotation thereof or variations of such words and phrases or statethat certain actions, events, or results “may”, “could”,“would”, “might” or “will be taken”, “occur” or “beachieved” or the negative connotation thereof.
Forward-looking information andstatements are based on the then current expectations, beliefs,assumptions, estimates and forecasts about Hanstone’s business andthe industry and markets in which it operates and will operate. Forward-looking information andstatements are made based upon numerous assumptions, including amongothers, the results of planned exploration activities are asanticipated, the price of gold, the cost of planned explorationactivities, that financing will be available if needed and onreasonable terms, that third party contractors, equipment, suppliesand governmental and other approvals required to conduct Hanstone’splanned exploration activities will be available on reasonable termsand in a timely manner and that general business and economicconditions will not change in a material adverse manner. Although theassumptions made by the Company in providing forward-lookinginformation or making forward-looking statements are consideredreasonable by management at the time, there can be no assurance thatsuch assumptions will prove to be accurate.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.
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