VANCOUVER, BC / ACCESSWIRE / April 9, 2024 / SKY GOLD CORP. ("Sky" or the "Company") (TSXV:SKYG)(OTC PINK:SRKZF) announces amendments to the property option agreements for the acquisitions of 100% interest in each of the Horne property and the Laurie property, both which border the Eureka Gold Zone (EGZ), located in the Dawson Road Lots, straddling the Trans-Canada highway, approximately 50 kilometres west of the City of Thunder Bay, in northwestern Ontario. (See news release dated April 12, 2023)
In consideration of an aggregate total 2,300,000 common shares to be issued to the vendors, the cash obligations under the option agreements will be reduced by an aggregate total of $50,000 (original: $450,000; amended: $400,000), and the overall exploration expenditures are confirmed at $500,000 (previously: $800,000) with the annual amounts deferred for certain years, with portions of the 1st and 2nd year expenditure obligation deadlines deferred to the 3rd and 4th years.
The remainder of the original option terms remain unchanged. Shares issued under the amending agreements will be subject to a four month hold period commencing from issuance.
The amendments to the transactions are subject to TSX Venture approval.
ON BEHALF OF THE BOARD
Mike England
CEO, PRESIDENT & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT
Tel: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Sky Gold Corp.
View the original press release on accesswire.com
