(TheNewswire)
March 18, 2019 / TheNewswire / Vancouver, BC: Silver Grail Resources Ltd. (“Silver Grail”) (“SVG”-TSX-V), in conjunction with joint owner Teuton Resources Corp., has agreed to option the Silver Crown property to Auramex Resources Corp. (“Auramex”) subject to TSX approval.
The option, by which Auramex can acquire a 100% interest in the Silver Crown property, involves an initial payment of $10,000 and the issuance of 100,000 shares upon Exchange acceptance, to be divided equally between Silver Grail and Teuton. To complete the option, payments aggregating a further $110,000 and 400,000 shares are required over the next four years, again to be divided equally. The vendors will retain a 2% NSR, one half of which can be bought down for $1 million, with a minimum advance annual royalty of $50,000 to begin after 7 years.
The Silver Crown property consists of 11 claims. It is distinct from Silver Grail and Teuton’s Silver Crown 6 claim which remains under option to Decade Resources.
The Auramex geological team is planning to integrate the newly acquired Silver Crown property into its exploration program along the Bear Valley and American Creek corridor. Currently, the team is finalizing its data compilation and preparing for the 2019 field season, which includes permitting for diamond drilling.
The Qualified Person for this news release is Dino Cremonese, P.Eng., who as President of Silver Grail is not independent of the Company.
About Silver Grail
Silver Grail owns interests in 12 separate silver-gold properties in the Stewart region in the southern section of the Golden Triangle as well as three cobalt prospects located elsewhere in British Columbia.
Respectfully:
“Dino Cremonese, P.Eng.”
President, Silver Grail Resources Ltd.
For more information contact Investor Relations at 778-430-5680 or barry@teuton.com. If you would like to be added to Silver Grail’s news distribution list, please send your email address to dino@teuton.com.
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Silver Grail Resources Ltd. does have an ongoing obligation to disclose material information, as it becomes available.
The TSX Venture Exchange has neither
approved nor disapproved the
information contained herein.
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