New Klondike Exploration Sells Red Lake Royalty Interest
24.02.2015 | Marketwire
TORONTO, Feb. 24, 2015 - New Klondike Exploration Ltd. (TSX VENTURE: NK) ("New Klondike" or the "Company") is pleased to announce that it has closed the sale of a 1% net smelter returns royalty interest (the "NSR") to Franco-Nevada Corp. in consideration for $50,000 for all of the Company's right, title and interest in the NSR. The NSR was originally granted to the Company in 1993 as partial consideration for the purchase of the Company's 50% interest in 54 patented mining claims in the Red Lake area. The underlying claims are presently owned by Pure Gold Mining Inc. and form part of their Madsen Gold Project which they are continuing to explore. The NSR has a capped payout of $1 million.About New Klondike
New Klondike is an Ontario focused mineral exploration and development company with a primary objective of exploring for and developing base and precious metal deposits on its Goldstorm Project. The Company presently has 20,415,545 common shares issued and outstanding
Neither 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 press release.
Contact
New Klondike Exploration Ltd.
Michael Coulter, President
416-368-3332
info@newklondike.com
www.newklondike.com