Royal Gold Mining Inc. Acquires Option on Quebec Gold Project
Suite 701 - 595 Howe Street Vancouver, BC V6C 2T5
ROYAL GOLD MINING INC. ACQUIRES OPTION ON QUEBEC GOLD PROJECT
Vancouver, BC, September 19, 2019 – Royal Gold Mining Inc. (ROYL:TSXV) (the “Company”) reports that it has, in consideration of $20,000, entered into a letter agreement with an arm’s length vendor, allowing it the exclusive right to a 45 day period to complete an Option Agreement to give it the right to acquire a 100-per-cent interest in 140 mineral claims totalling 5,047 hectares (50.47 square kilometres) located only 80 km southeast of Quebec City, in the Province of Quebec, Canada. There are 38 adjoining staked claims which are pending and, when approved by the Quebec Government shortly, will become part of the Agreement. Within 30 days of regulatory approval of the agreement, the Company is obligated to pay $10,000 (A further $25,000 and 200,000 common shares are to be delivered with 75 days of regulatory approval). First year property expenditures total $100,000. The letter agreement calls for a four-year term with escalating cash payments, share issuances and exploration expenditures. To acquire a 100-per-cent interest in the property, the Company must pay $295,000 cash in the aggregate, issue 1,500,000 common shares and complete $2,200,000 in exploration expenditures, subject to a 2-per-cent net smelter royalty. Upon the Company exercising the option in full, a 2-per-cent NSR is subject to an optional buyback of 0.5 per cent for $500,000 and a second optional buyback of 0.5 per cent for $500,000, thereby leaving the Optionor with a 1-per-cent NSR.
The Company is looking forward to augmenting its exploration portfolio with this exciting gold and gold-polymetallic (silver-zinc-copper) opportunity located in one of the best mining jurisdictions in the world, as rated by the Fraser Institute.
Additional information about the property will be forthcoming shortly once the Company finalizes the Option Agreement.
Contact Person: Mr. Glen Macdonald, P.Geo.
Telephone: (604)719-8129
Email: [email protected]
About the Company
The Company maintains its Kirkland’s Creek, Yukon project in good standing and continues to evaluate additional resource projects.
ON BEHALF OF THE BOARD
(signed) “Glen Macdonald”
Glen Macdonald Chief Executive Officer and Director
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.
This news release may contain forward-looking statements that are based on Royal Gold Mining Inc.'s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and Royal Gold Mining Inc. undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.