Vancouver, Canada, October 27, 2023 – Eminent Gold Corp. (TSX-V: EMNT) (OTCQB: EMGDF) (the "Company" or “Eminent”) is pleased to announce that the TSX Venture Exchange has accepted for filing documentation pertaining to the purchase agreement (the “Agreement”) dated September 26, 2023, between Eminent Gold Corp. and its subsidiary (the “Company”) and Orogen Royalties, an arm’s length party (the “Seller”). Pursuant to the terms of the Agreement, the Company may acquire 100% interest in the 110 unpatented claims (890 hectares). By way of Consideration, the Company will issue 350,000 common shares to the Seller. And an additional 200,000 common shares will be issued when the company initiates a drill program at Gilbert South Property, located 30 kilometres west of Tonopah in the Walker Lane trend, Nevada.
The Timberline claims are currently subject to a 3% net smelter return royalty, the Nevada Select claims are currently subject to a 2% net smelter return royalty, and the GL claims are currently subject to a 2.25% net smelter return royalty. The Company shall have the option and right to repurchase 1% of the GL royalty for $1 million (U.S.). The Seller shall have the option to buy down 1% of the Timberline net smelter return for $1.5 million (U.S.).
For further details, please refer to the Company’s news releases dated September 27, 2023.
The Company also announces that its September 27, 2023 news release (the “News Release”) referred to Justin Milliard, PGeo as the qualified person who reviewed the scientific and technical information in the News Release. The News Release was reviewed by Michael Dufresne, a qualified person under NI 43-101, not Justin Milliard. There is no change to the scientific or technical disclosure in the News Release.
CEO and Director
About Eminent Gold
Eminent Gold is a gold exploration company focused on creating shareholder value through the exploration and discovery of world-class gold deposits in Nevada. Its multidisciplinary team has had multiple successes in gold discoveries and brings expertise and new ideas to the Great Basin. The Company’s exploration assets in the Great Basin include: Hot Springs Range Project, Weepah, Gilbert South, and Spanish Moon District.
Neither 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.