Castle Peak Announces Net Smelter Returns Agreement in Connection with the Closing of the Purchase of a Prospecting License
Vancouver, Oct. 27, 2021 - Castle Peak Mining Ltd. (TSXV: CAP) ("Castle Peak" or the "Company") is pleased to report that, through its wholly owned Ghanian subsidiary Castle Sika Mining Ltd. ("Castle Sika"), it has entered into a 1.5% Net Smelter Returns Agreement ("NSR") with Wononuo Investment Limited ("Wononuo") on minerals mined, removed and sold by Castle Sika. The NSR is granted to Wononuo as a part of Castle Peak's purchase of the prospecting license for a mineral deposit located in Ghana. Title to the prospecting license will be held by Castle Sika. The purchase of the prospecting license from Wononuo was originally disclosed by news release on February 20, 2019 and the creation of Castle Sika was originally disclosed by news release on September 23, 2021. The purchase of the prospecting license is expected to close on October 31, 2021. Completion of the abovementioned transaction is subject to approval by the TSX Venture Exchange.
For further information, please contact:
"Iyad Jarbou"
Chief Financial Officer
Tel: 604.362.7685
Email: iyadj@castlepeakmining.com
Website: https://castlepeakmining.com/
FORWARD-LOOKING AND OTHER CAUTIONARY INFORMATION
Except for statements of historical fact, this news release contains certain 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities laws. This release may contain statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this release. The Company does not assume the obligation to update any forward-looking statement, except as required by law. For more information on the Company, investors should review the Company's filings that are available at www.sedar.com.
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