Metals Creek Receives 1st Anniversary Option Payment for Flint Lake from Manning
Thunder Bay, Ontario--(Newsfile Corp. - November 29, 2021) - Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or "Metals Creek") is pleased to announce that the company has received the 1st year anniversary payment of $30,000 and 400,000 shares from Manning Ventures Inc. (CSE: MANN) ("Manning") for the Flint Lake Option.
Manning has the right to earn a 100% interest of Metals Creeks 81.3 % interest in the Flint Lake project.
In order to exercise the Flint Lake Option, Manning must: (1) make cash payments to MEK of $145,000 over three years ($50,000 Paid); (2) issue a total of 2,200,000 common shares of Manning to Metals Creek over three years (700,000 shares issued); and (3) incur work expenditures of $775,000 over three years. Upon exercise of the Flint Lake Option, MEK will retain a 1% NSR royalty, Manning will retain the right to purchase 50% of such NSR royalty from MEK upon payment of $500,000 at any time.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont, including the past producing Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont, under which Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Metals Creek also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Company's website. Parties interested in seeking more information about properties available for option can contact the Company at the number below.
Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at www.sedar.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.
Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp
telephone: (709)-256-6060
fax: (709)-256-6061
email: astares@metalscreek.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105467