Trillium Gold Completes Agreement to acquire 80% of Gold Centre Property in Red Lake
VANCOUVER, Feb. 24, 2021 - Trillium Gold Mines Inc. (TSXV: TGM) ("Trillium" or the "Company") announced today that the TSX Venture Exchange has approved, and the Company has closed, the definitive joint venture agreement with Rupert Resources Ltd. that entitles Trillium to acquire 80% interest in the Gold Centre Property located immediately adjacent to, and along strike of Evolution Mining's Campbell-Red Lake Mine. The terms of the Joint Venture Agreement are set out in Trillium's News Release dated August 31, 2020. The Company has issued 500,000 common shares to Rupert Resources on closing of the Agreement which shares are subject to a four month hold period expiring June 24, 2021.
On February 9, 2021 Trillium announced receipt of a drill permit for the Gold Centre property. The Company has planned a combination of new holes to target the shallower sulphide-style mineralization, similar to that of the Far East Zone at the Red Lake Operations, as well as deeper drilling holes designed to target both high-grade and sulphide mineralization.
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On behalf of the Board of Directors,
"Russell Starr"
Russell Starr
President, CEO and Director
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a growth focused British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. The Company recently extended its holdings in the Confederation Lake and Birch-Uchi greenstone belts, as well as in highly prospective properties in Larder Lake, Ontario and the Matagami and Chibougamou areas of Quebec.
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 release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Trillium Gold Mines Inc.
Contact
please contact Donna Yoshimatsu, VP Corporate Development and Investor Relations at dyoshimatsu@trilliumgold.com, (416) 722-2456, or info@trilliumgold.com, 604-688-9588.