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Northern Vertex Mining Corp. (TSXV:NEE) announced that it’s received the arbitrator’s award from its December 2015 arbitration with Patriot Gold Corp. (OTCMKTS:PGOL). Northern Vertex “prevailed on both the disputed matters.”
Northern Vertex Mining Corp. (TSXV:NEE) announced that it’s received the arbitrator’s award from its December 2015 arbitration with Patriot Gold Corp. (OTCMKTS:PGOL). Northern Vertex “prevailed on both the disputed matters.”
As quoted in the press release:
The arbitration award confirmed that Northern Vertex’s Feasibility Study delivered to Patriot on July 20th, 2015, meets the requirements of the 2011 Exploration and Option to enter Joint Venture Agreement. Northern Vertex has now earned a vested 70% interest in the Moss Mine Gold Silver Project. The arbitrator also dismissed Patriot Gold’s claims to be paid US$5.5 million for the gold and silver proceeds from the 2013 pilot plant program.
Dick Whittington, president and CEO of Northern Vertex, commented:
We are pleased to see the Company’s position upheld in all respects and to complete our earn-in to the Moss Mine Project. We can now plan to accelerate our efforts towards bringing this exciting project to fruition in the near term. We have one of the best development projects in the market today. We look forward to working with our partner and to putting the necessary framework in place to build a mine in the near future.
Click here to read the full Northern Vertex Mining Corp. (TSXV:NEE) press release.