1844 Announces the Sale of the Lac Arsenault Project

1844 Announces the Sale of the Lac Arsenault Project

1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844") announces that it came to an agreement to sell its Lac Arsenault Project to Canada Gold Resources Ltd (the "Purchaser")

The Purchase Price for the Mining Claims shall be Six Hundred Thousand Canadian Dollars ($600,000.00CAD) payable as follows:

  • One Hundred Thousand Canadian Dollars in cash to be provided to 1844 on the Closing Date.
  • And shares of the treasury of the Purchaser for the value of Five Hundred Thousand Canadian Dollars ($500,000.00CAD) to be provided to 1844 on the closing Date of the Public Offering.
  • 1844 shall be entitled to a One Percent (1% ) NSR and the Purchaser shall have the right to repurchase the NSR for Five Hundred Thousand Canadian Dollars ($500,000.00CAD).

Sylvain Laberge President & CEO: "The sale of Lac Arsenault is part of our strategy of concentrating efforts on our existing Copper Projects. Further, we continue to evaluate additional strategic metal opportunities in the Province of Quebec."

About 1844 Resources Inc.: 1844 is an exploration company with a focus in strategic and energetic metals and underexplored region "Gaspé Québec". With a dedicated management team, the Company's goal is to create shareholder value through the discovery of new deposits.

1844 Resources Inc.

(signed) "Sylvain Laberge"

Sylvain Laberge
President and CEO
514.702.9841
Slaberge@1844resources.com

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146920

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1844 Receives Final Payment for Sale of Lac Arsenault Project

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