StrikePoint Gold Enters into a Definitive Agreement with 1911 Gold Corporation for the Sale of Its Angelina Property in Manitoba and Grants Stock Options
Vancouver, June 7, 2021 - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") announces that it has signed a definitive agreement dated June 7th, 2021, with 1911 Gold Corporation (TSXV: AUMB) ("1911") whereby 1911 will acquire a 100 per cent interest in StrikePoint's Angelina Property (the "Property"), located approximately 20 kilometres southeast of the 1911's True North Complex at Bissett, Manitoba in consideration for a $20,000 cash payment and 175,000 common shares in the capital stock of 1911 to Strikepoint. The Company will retain a one percent (1.0% percent) net smelter returns royalty, which may be purchased by 1911 at any time for payment of $500,000.
Shawn Khunkhun, StrikePoint Gold CEO commented, "As we gear up for our most active drill campaign to date, this divestment further reinforces our commitment and focus to our two Flagship gold and silver Projects in BC's Golden Triangle. Our crews are preparing to mobilize to our Porter Silver and Willoughby Gold-Silver Projects and we will be announcing these drill programs shortly."
StrikePoint Gold also announces that it has granted 4,850,000 incentive stock options to its directors, officers, consultants and employees pursuant to the Company's stock option plan. The options are exercisable for a period of five years at a price of $0.25 per share.
About StrikePoint
StrikePoint Gold is a gold exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC's Golden Triangle: the past-producing, high-grade Porter Silver Project and the high-grade Willoughby Gold-Silver Project. The company also owns a portfolio of gold properties in the Yukon.
ON BEHALF OF THE BOARD OF DIRECTORS OF
StrikePoint Gold Inc.
"Shawn Khunkhun"
Shawn Khunkhun
Chief Executive Officer and Director
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the company's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
For more information, please contact
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440
E: sk@strikepointgold.com
W: www.strikepointgold.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86660