|
The newly acquired ground increases the
Table 1. Properties included in the
Properties | Held | Claims | Hectares | Royalties |
100% | 126 | 2,744 | 2% “NSR” with 1% may be purchased for | |
100% | 91 | 1,984 | 2% “NSR” with 1% may be purchased for | |
Option for 100% | 238 | 5,193 | 2% “NSR” with 1% may be purchased for | |
100% | 36 | 785 | Nil | |
Rocky Brook Fault | 100% | 33 | 718 | Nil |
*William Brook Center | Option for 100% | 21 | 458 | 2% “NSR” with 1% may be purchased for |
*Jonpol Gold South | Option for 100% | 51 | 1,111 | 2% “NSR” with 1% may be purchased for |
Total: | 596 | 12 993 |
*New property acquired and described in the section Terms of the Transactions
The properties are located roughly 60 kilometers west of the city of
TERMS OF THE TRANSACTIONS
William Brook Center (21 claims)
Puma may acquire a 100% undivided ownership interest in the Property according to the following terms:
Issuing a cumulative amount of 400,000 shares of Puma and
- 400,000 shares subsequent to signing of the Agreement
$10,000 cash on or before the 1st anniversary date of the agreement$10,000 cash on or before the 2nd anniversary date of the agreement$10,000 cash on or before the 3rd anniversary date of the agreement$20,000 cash on or before the 4th anniversary date of the agreement
Additional performance payments:
- Pay the Owner
$25,000 cash payment upon a Positive Preliminary Economic Assessment; - Pay the Owner
$50,000 cash payment upon a Positive Feasibility Study; - Pay the Owner a one-time cash payment of
$100,000 upon a Commercial Production.
The Owner will retain a 2% net smelter return (“NSR”) royalty on any saleable production from the Property. Fifty percent of the NSR royalty (i.e. 1%) may be purchased by Puma for
Jonpol South (51 claims)
Puma may acquire a 100% undivided ownership interest in the Property according to the following terms:
Issuing a cumulative amount of 500,000 shares of Puma and
- 500,000 shares subsequent to signing of the Agreement
$10,000 cash on or before the 1st anniversary date of the agreement$10,000 cash on or before the 2nd anniversary date of the agreement$10,000 cash on or before the 3rd anniversary date of the agreement$20,000 cash on or before the 4th anniversary date of the agreement
Additional performance payments:
- Pay the Owner
$25,000 cash payment upon a Positive Preliminary Economic Assessment; - Pay the Owner
$50,000 cash payment upon a Positive Feasibility Study; - Pay the Owner a one-time cash payment of
$100,000 upon a Commercial Production.
The Owner will retain a 2% net smelter return (“NSR”) royalty on any saleable production from the Property. Fifty percent of the NSR royalty (i.e. 1%) may be purchased by Puma for
QUALIFIED PERSONS
ABOUT
You can visit us on Facebook / Twitter / LinkedIn
Learn more by consulting www.pumaexploration.com for further information on Puma.
(418) 724-0901
president@explorationpuma.com
Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Puma to be materially different from actual future results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date the statements were made, except as required by law. Puma undertakes no obligation to publicly update or revise any forward-looking statements. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration.
A map accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6831a154-327c-4fca-8eef-4197c07596cd
Source:
2020 GlobeNewswire, Inc., source