Northern Lights Sells Secret Pass Gold Project
(TheNewswire)
Vancouver, British Columbia, June 19,2025 – TheNewswire- Northern Lights ResourcesCorp. (“Northern Lights” or the“Company”) (CSE:NLR, OTC: NLRCF) is pleasedto announce that entered into a definitive agreement (the‘’Agreement’’) whereby the Company will sell a 100% interestin the Secret Pass Gold Project (‘’Secret Pass’’ or the ’’Project’’) to a private third party company (the‘’Buyer’’) (the “Transaction”).
The Secret Pass Project has been sold to the Buyer fortotal consideration of $600,000 in cash and equity payments plusNorthern Lights retains a 2% Net Smelter Return (‘’NSR’’) onthe Project as follows:
$150,000 of cash consideration to be paid to NorthernLights upon closing of the Transaction (of which a deposit of $25,000has been paid);
Equity consideration payments of $450,000 to be paid toNorthern Lights in three equal annual payments, with the first paymentof $150,000 to be made upon closing of the Transaction; and
Northern Lights retains a 2% NSR that the Buyer maypurchase 1% back by paying Northern Lights a cash payment ofUS$1,000,000.
Northern Lights acquired the Secret Pass Gold Projectin 2021 and completed an initial core drilling program focused on theTin Cup prospect where significant gold mineralization was intersected(see NLR announcement dated March 5, 2022 for details of the Tin Cupprospect drill results).
Northern Lights CEO, Jason Bahnsen, commented“ As a project generator,Northern Lights has a proven track record of acquiring early-stageprojects, adding value through exploration and then vending theprojects to larger companies while retaining equity exposure and aroyalty interest. After completing several years of exploration workat the Medicine Springs silver and base metals project in Nevada,Northern Lights sold its interest in the project to Reyna Silver Corpin 2022 in exchange for cash, shares and a 1% NSR.
The sale of Secret Pass is furtherexample where Northern Lights has generated value through acquisition,exploration and the subsequent sale of the project for cash, equityand a 2% NSR.
Northern Lights will now focus onthe exploration and value creation at the Horetzky copper project inBritish Columbia that is currently in the drill permitting stage withfield work scheduled to commence in due course.’’
The Transaction is subject any required regulatoryapprovals and Northern Lights has agreed to pay a finder’s fee of$30,000 payable in NLR shares to a third party consultant.
Qualified Person Statement
Information in this report relating to explorationresults and permit applications is based on information reviewed byMr. Lee R. Beasley, a Certified Professional Geologist who is a Memberof the American Institute of Professional Geologists, and a consultantto Northern Lights Resources. Mr. Beasley has sufficient experiencewhich is relevant to the style of mineralization and type of depositunder consideration and to the activity which he is undertaking toqualify as a Qualified Person for the purposes of NI43-101 Standardsof Disclosure for Mineral Projects. Mr. Beasley consents to theinclusion of the data in the form and context in which itappears.
For Further Information
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
JasonBahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
AboutNorthern Lights Resources Corp.
Northern Lights Resources Corp is a growth-orientedexploration and development company advancing two key projects: theHoretzky Copper Project, located in the Babine Porphyry belt ofcentral British Columbia and the 100% owned, Secret Pass Gold Projectlocated in Arizona. Northern Lights also holds a 1% NSR royalty on theMedicine Springs Silver Project in Nevada owned by Reyna SilverCorp.
Northern Lights Resources trades under the ticker of“NLR” on the CSE and on the OTC under the ticker “NLRCF”. Thisand other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com .
CAUTIONARY STATEMENT REGARDINGFORWARD-LOOKING INFORMATION : This news releaseincludes certain “forward-looking statements” under applicableCanadian securities legislation. Forward-looking statements include,but are not limited to, statements with respect to: the terms andconditions of the proposed private placement; use of funds; thebusiness and operations of the Company after the proposed closing ofthe Offering. There is no assurance any further advances of fundsfrom the Investor will be forthcoming. Forward-looking statementsare necessarily based upon a number of estimates and assumptions that,while considered reasonable, are subject to known and unknown risks,uncertainties, and other factors which may cause the actual resultsand future events to differ materially from those expressed or impliedby such forward-looking statements. Such factors include, but are notlimited to: general business, economic, competitive, political andsocial uncertainties; delay or failure to receive board, shareholderor regulatory approvals; and the uncertainties surrounding the mineralexploration industry. There can be no assurance that such statementswill prove to be accurate, as actual results and future events coulddiffer materially from those anticipated in such statements.Accordingly, readers should not place undue reliance on forwardlooking statements. The Company disclaims any intention orobligation to update or revise any forward-looking statements, whetheras a result of new information, future events or otherwise, except asrequired by law.
Copyright (c) 2025 TheNewswire - All rights reserved.
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