(TheNewswire)
Vancouver, BC - TheNewswire - October 13, 2020 - Royal Gold Mining Inc.(TSXV:ROYL) (OTC:NSVLF) (the"Company") is pleased to announce amajor and important expansion of the Partridge Gold Project situatedin Abitibi, Quebec.
T he Project covers several uniquehistoric gold and base metal (zinc +- copper) occurrences located onstructural trend with Amex Exploration Inc.'s high grade Perron GoldProject and the previously producing Normetal mine and VMSdeposit.
The Project is comprised of a cluster of severalmineral properties totalling 107.2 km 2 located in the Abitibi region of northwestern Quebec.The properties lie within a radius of approximately 20 to 60kilometers to the north and northeast of the mining town of La Sarre, approximately 120 road-km north of the miningcenter of Rouyn-Noranda, and about 720 kilometres northwest ofMontreal. The region has a dense network of paved highways andall-season gravel roads.
On October 8, 2020 the Company entered into a bindingagreement to purchase 97 mineral claims totalling 5454.60 hectaresfrom the Vendor. Together with 95 claims (5268.22 hectares) purchasedfrom the same Vendor in January 2020 (see Company press release datedJanuary 17, 2020) the Project total is now 192claims totaling 10722.82 hectares ( 107.2km 2 ).
No new properties have been created; rather theadditional claims have allowed the important expansion of 5 of theCompany's existing Partridge Project properties.
The 97 claims were staked by the Vendor soon after theCompany purchased the original 95 claims in January 2020, hence theiravailability to the Company now despite the thousands of minerallicenses that have been registered to others in the Perron andPartridge projects region since early this year.
Pearson Property : The large Pearson property has now been expanded from 62 to88 claims, for a total of 4648.66 hectares (46.5 km 2 ).
Lac Authier Property : Four geographically separated blocks of claims (10 claimsin all), each hosting one historical gold occurrence and purchased bythe Company in January 2020, have now been tied together into a singleclaims block by the addition of 45 claims for a total of 55 claimscovering 3057.40 hectares (30.6 km 2 ). The new LacAuthier property hosts all four historic gold occurrences; OuestGoldfield, Ruisseau Concretion-Nord, Sondage 93-05, and Rang II lot48.
Lac Turgeon Property : Six small blocks of claims (9 claims in all) purchased bythe Company in January 2020 have now been consolidated into 4 largerblocks by the addition of 23 new claims for a total of 32 claimscovering 1750.81 hectares (17.5 km 2 ). The 4 blocksof the Lac Turgeon property are on strike with and neighbouring tosmall properties held by others that contain the historic Rollmac andLac Turgeon-Rive Ouest gold occurrences.
VA-11-02 Property: One original block of 3 claims previously acquired by theCompany has been expanded to 8 claims totalling 451.87 hectares (45.2km 2 ). The property contains the historic VA-11-02 goldoccurrence.
Ruisseau Partridge Block : Increased from one to three claims for a total of 169.24hectares (0.17 km 2 ).
Royal Gold Mining Inc. has obtained the right topurchase a 100% interest in the 97 mineral claims by issuing 100,000 Units at a deemed price of CAD $0.30each together with $20,000 payable within 10 days of TSX VentureExchange approval. Each unit is comprised of one common share and onewarrant exercisable at $0.50 for 12 months toacquire an additional common share. The vendor will retain a 2. 0 % Net Smelter Returnroyalty . The Company may at any time purchase1.0% of the NSR for the sum of $ 1,000,000.
The Partridge Gold Project claims are located inChazel, Clermont, Disson, Lavergne, Ligneris, Perron, Rousseau andVanier townships within National Topographic Sheets 32D11, 32D15,32E01, 32E02, 32E03 and 32E04.
For information on the Project geology, including thenumerous documented gold occurrences contained within the Pearson, LacAuthier, Lac Turgeon and VA-11-02 properties, please refer to theCompany press release dated January 17, 2020.
Dr. Christian Derosier, P.Geo., D.Sc., is the qualifiedperson (QP) as defined in National Instrument 43-101 and, acting onbehalf of Royal Gold Mining inc. , has reviewed and approved the technical content of thisnews release.
Royal Gold Mining Inc . i s a mineral exploration company based in Vancouver, British Columbia, Canada. Our primary focus is to identify, acquire , advance and develop North American preciousmetal exploration projects with solidinfrastructure . In addition to its KirklandCreek project in the Yukon, its recently optioned Beauce Goldproperty is located in southeasternQuebec. Royal Gold Mining Inc. Is managed by an experienced team of mining professionals with extensive operating and financial experience.
ON BEHALF OF THE BOARD
(signed) "Glen Macdonald"
Glen Macdonald
Chief Executive Officer and Director
Contact Person: Mr. Glen Macdonald, P.Geo.
Telephone: (604)719-8129
Email: geoglen@shaw.ca
Neither the TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease.
This news release may containforward-looking statements that are based on Royal Gold MiningInc.'s expectations,estimates and projections regarding its business and the economicenvironment in which it operates. These statements are not guaranteesof future performance and involve risks and uncertainties that aredifficult to control or predict. Therefore, actual outcomes andresults may differ materially from those expressed in theseforward-looking statements and readers should not place undue relianceon such statements. Statements speak only as of the date on which theyare made, and Royal Gold Mining Inc. undertakes no obligation toupdate them publicly to reflect new information or the occurrence offuture events or circumstances, unless otherwise required to do so bylaw.
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