Altamira Announces Closing of Sale of Tom and Sickle Gold Projects in Northwest Territories, Canada to TerraX Minerals
Vancouver, British Columbia--(Newsfile Corp. - October 2, 2018) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF), ("Altamira" or the "Company") is pleased to announce that it has closed on the transaction with TerraX Minerals Inc ("TerraX") regarding the sale of Altamira's 100% interests in the Tom and Sickle claims located in the Northwest Territories of northern Canada, previously announced in its News Release dated September 19, 2019.
Altamira has received a total of $25,000 cash and 250,000 shares of TerraX. Altamira and will retain a 2% NSR royalty.
The Tom and Sickle projects are located north of Yellowknife and adjacent to and within TerraX's Yellowknife City Gold project. The Sickle project is completely enclosed by ground controlled by TerraX and has had limited previous drilling. The Tom project was a small historic producing gold mine.
The Company also announces that it has granted 100,000 stock options to a consultant of the Company. The stock options are exercisable for a term of three years at an exercise price of $0.10 per common share under the terms of the Company's Stock Option Plan.
About Altamira Gold Corp.
The Company is focused on the exploration and development of gold deposits within western central Brazil. The Company holds 12 projects comprising approximately 200,000 hectares, within the prolific Juruena gold belt which historically produced an estimated 7 to 10Moz of placer gold. The Company's advanced Cajueiro project has an NI 43-101 compliant resources of 8.64Mt @ 0.78 g/t Au (for 214,000oz) in the Indicated Resource category and 9.53Mt @ 0.66 g/t Au (for 204,000oz) in the Inferred Resource category and an additional 1.37Mt @ 1.61 g/t Au in oxides (for 79,000oz in saprolite) in the Inferred Resource category.
On Behalf of the Board of Directors,
ALTAMIRA GOLD CORP.
"Michael Bennett"
Michael Bennett
President & CEO
Tel: 604.676.5660
Toll-Free: 1-833-605-6271
info@altamiragold.com
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.
Forward-Looking Statements
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Except as required by law, we do not undertake to update these forward-looking statements.