- GoldHaven Resources (OTCQB:GHVNF) entered an earn-in agreement under which it may earn a 100% interest in the ~8.2K hectare Pat's Pond and ~13.1k hectare O'Neill projects in Central Newfoundland Gold Belt.
- The company said the Pat's Pond and O'Neill projects are prospective for epithermal gold and volcanogenic massive sulphide mineralization and are road accessible.
- For the option to earn 100% of the Pats Pond and O'Neill claims, GoldHaven will issue 7.1M common shares, within five days after the effective date.
- For Pat's Pond, the company will issue 1.2M shares on one year of the effective date and 800K on the second year.
- The vendors retain a 2% NSR royalty (with the right to buyback 1/2 of the NSR at any time by paying C$1M).
- "These acquisitions supplement our core strategy to expand our ownership of highly prospective projects next to major discoveries. GOH is now very well positioned to unlock value from our 213 Km2 Newfoundland portfolio," said GoldHaven's CEO Daniel Schieber.
- Source: Press Release