Stratabound Minerals Corp. Acquires 40% Ownership of Golden Culvert Project Through Completion of Option Payments
Toronto, December 13, 2021 - Stratabound Minerals Corp. (TSXV: SB) (OTCQB:SBMIF) ("Stratabound" or the "Company") announces that pursuant to the terms of the Little Hyland and Golden Culvert Option Agreements dated September 27, 2017 and amended November 25, 2019, (the Agreements"), it has completed the issuance of a total of 2,011,200 common shares to the Optionors. The shares represent 50% of the fourth anniversary payment due to the Optionors, and were issued at a deemed price of $0.0982 each.
Securities issued pursuant to this transaction are subject to trading restrictions until April 11, 2022.
Under the terms of the Agreements, having completed all the payments and incurred the expenditures prior to and including this fourth anniversary of the Agreements, Stratabound is now deemed to have earned a 40% interest in the Golden Culvert Property.
Mr. R. Kim Tyler, President and CEO of Stratabound commented, "We are pleased to have now acquired 40% ownership in the Golden Culvert Properties in this exciting yet under-explored eastern half of the Yukon that also includes Seabridge Gold's neighbouring high-grade 3 Aces Project. While moving ahead with our plans to advance our Fremont Property in California towards production, we also look forward to advancing our mid to early-stage gold projects at the forefront of two new emerging gold districts in both the Yukon at Golden Culvert and in northern New Brunswick at our McIntyre Brook gold project adjacent to Puma Exploration's Williams Brook project."
The Company would also like to clarify that on the closing of the second tranche of the common share units on November 10, 2021, one insider subscribed for 100,000 common share units.
About Stratabound Minerals Corp.
Stratabound Minerals Corp. is a Canadian mineral development company developing its advanced stage Fremont Gold Project in the Mother Lode Gold Belt of California. The Project features an NI 43- 101 Mineral Resource estimate of 526k oz's at an average grade of 1.60 g/t Au in the Indicated plus 452k oz's at an average grade of 1.29 g/t Au in the Inferred Mineral Resource categories respectively encompassing two historic high-grade U/G gold mines. It also hosts 3 undeveloped gold occurrences across 4-km of strike along the prolific Mother Lode Gold Belt. The Company is also advancing its other early-stage gold projects; the Golden Culvert, YT, McIntyre Brook, NB, and Dingman, ON, as well as a significant land position hosting three base metals deposits in the Bathurst base metals camp of New Brunswick featuring the Captain Copper-Cobalt-Gold Deposit.
Mr. R. Kim Tyler, P.Geo., President and CEO of Stratabound, and a "Qualified Person" for the purpose of NI 43-101, has reviewed and approved the contents and technical information of this news release.
For more information, please visit the company's website at www.stratabound.ca or contact: R. Kim Tyler, President and CEO 416-915-4157 info@stratabound.com.
Neither the 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.
WARNING: The Company relies upon litigation protection for "forward-looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, failure to obtain regulatory, exchange or shareholder approval, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
Not for distribution to U.S. newswire services for dissemination in the United States of America. Any failure to comply with this restriction may constitute a violation of U. S. securities law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107524