Triumph Gold to Acquire Big Creek Property
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VANCOUVER, British Columbia, Feb. 04, 2021 (GLOBE NEWSWIRE) -- Triumph Gold Corp. (TSX-V:TIG | OTCMKTS:TIGCF) (“Triumph Gold” or “the Company”) is pleased to announce that it has entered into an agreement (the “Agreement”) with Teck Resources Limited (“Teck”) to acquire the Big Creek copper-gold property located in Yukon, Canada (the “Property”) in consideration for 1,250,000 common shares of the Company and a 1.5% net smelter return granted to Teck, pursuant to a royalty agreement (the “Transaction”).
The Big Creek property consists of 258 contiguous quartz mining claims in the Whitehorse Mining District of Yukon (NTS sheets 115I/05 and 115I/12) and borders Triumph Gold’s 100% owned Tad/Toro property to the northwest, significantly expanding the Company’s interest in the Dawson Range Gold District (Figure 1). The adjoining properties are located along the prolific Big Creek Fault and the planned extension of the Mt. Freegold Road by the Yukon Resource Gateway Project. The existing 85-kilometre-long Mt. Freegold Road provides access to all portions of the Company’s flagship Freegold Mountain Project located approximately 15 kilometres southeast of the newly acquired Property. The Yukon Government recently announced a second Resource Gateway Project agreement with Little Salmon/Carmacks First Nation, involving mining-standard upgrades to the three bridges along the existing Mt. Freegold Road.
All securities issued in connection with the Transaction will be subject to a four month hold period in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the “TSXV”). No finder’s fees will be paid in connection with the Transaction. The Transaction is an arms-length Transaction, and completion of the Transaction is subject to approval of the TSXV.
The technical content of this news release has been reviewed and approved by Jesse Halle, P.Geo., Vice President Exploration for the Company and qualified person as defined by National Instrument 43-101.
About Triumph Gold Corp.
Triumph Gold Corp. is a Canadian based, growth-oriented precious metals exploration and development company with a district scale land package in mining friendly Yukon. Triumph Gold is focused on creating value through the advancement of the district-scale Freegold Mountain Project located in the Dawson Range Gold Belt of Yukon, Canada. For maps and more information, please visit triumphgoldcorp.com.
On behalf of the Board of Directors
Signed “John Anderson”
John Anderson, Executive Chairman
| For further information please contact: John Anderson, Executive Chairman Triumph Gold Corp. (604) 218-7400 janderson@triumphgoldcorp.com | Nancy Massicotte IR Pro Communications Inc. (604) 507-3377 nancy@irprocommunications.com |
Mars Investor Relations
(647) 557-6651
tig@marsinvestorrelations.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation (including statements with respect to the Transaction). Important factors - including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b566daf6-353d-4e62-8367-0476526c0ffd
Figure 1
