Golden Valley Mines Options Island 27 Co-Ni-Ag Prospect to Battery Mineral Resources

Golden Valley Mines (“Golden Valley”) (TSX VENTURE:GZZ) is pleased to announce that it has signed an Option Agreement with Battery Mineral Resources (“Battery”) a private Australian company, pursuant to which Battery can earn an 80% interest in the Island 27 Prospect, located in Burt, Holmes and Flavelle Townships in the Matachewan area of Northeastern Ontario.

In consideration of the grant of the option, Battery will pay to Golden Valley an aggregate of $500,000, of which $100,000 has been paid, $150,000 will be paid on June 1, 2018 and $250,000 will be paid on June 1, 2019.
In addition, Battery is required to incur expenditures on the property in the amount of $5,000,000 over a period of four years ending on June 1, 2021, of which $500,000 is to be spent by June 1, 2018.
Battery is also required to keep the property in good standing by paying all taxes, assessments and other charges and by doing all other acts and things that may be necessary in that regard.

Upon the 80% earn-in, Golden Valley and Battery will form a Joint Venture to further explore, and if warranted, develop the property.
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