DILL RIVER PROPERTY, ONTARIO
In September 2016, the Company entered into an option agreement (the “Agreement”) to acquire a 100% interest, subject to a 2% Net Smelter Royalty, in the 39 claim unit Dill River gold property (the “Property”) located several kilometers southeast of the town of Wawa, Ontario. The Company may earn its interest in the Property by paying an initial consideration of $3,000 and 200,000 common shares of the Company upon receipt of TSX Venture Exchange (“TSXV”) approval of the agreement (the “Acceptance Date”); and making additional optional payments of $10,000 and 100,000 common shares on the first anniversary of the Acceptance Date; $17,000 and 100,000 common shares on the second anniversary of the Acceptance Date; and $20,000 and 100,000 common shares on the third anniversary of the Acceptance Date.
The Dill River gold property is contiguous to the eastern boundary of Red Pine’s Surluga property and generally covers the same local geology as the Company’s Norwalk property and Red Pine Exploration Inc.’s Surluga property.
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. We seek safe harbour.