Prism Announces Court of Appeal for Ontario Dismisses Detour Gold Corp's Appeal of Summary Judgement of 7.5% Royalty Interest
Vancouver, April 27, 2022 - Prism Resources Inc. (TSXV: PRS) ("Prism" or the "Company") is pleased to report that the Court of Appeal for Ontario ruled unanimously today to dismiss Detour Gold Corp.'s appeal of the summary judgement awarded to Prism on April 1, 2021. (See news release dated April 1, 2021 and May 5, 2021)
The Company's net profits Royalty is fully enforceable against Detour.
Management and the Board of Directors are reviewing the Company's options going forward and will provide shareholders with an update in the near future.
About Prism Resources Inc.
Prism is a natural resources company that owns a 7.5% net profit interest (the "Royalty") in the Aurora and Sunday Lake claims, near the Detour Lake Gold mine. The Aurora claims cover areas which include Detours high grade Zone 58N discovery. Potential exists on the Aurora and Sunday Lake concessions to host additional discoveries which could generate significant cash inflows to Prism in the future.
ON BEHALF OF THE BOARD OF DIRECTORS
Brian Kerzner
President & CEO
For more information contact:
Brian Kerzner
Prism Resources Inc.
Email: brian@kerzner.ca
Scott M. Ross
Prism Resources Inc.
604-803-4884
Email: sross@prismresourcesinc.com
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121965