Goldplay Signs $3.75M Letter of Agreement to JV Part of Its Portuguese Assets

Goldplay Signs $3.75M Letter of Agreement to JV Part of Its Portuguese Assets

TSXV:AUC)(OTCQB:AUCCF)(Frankfurt:9FY), (the "Company" or "Goldplay"), is pleased to announce that it has signed a Letter of Agreement (the "LOA") with Cullinan Metals Corp (CSE: CMT) ("Cullinan"), a copper focused public company, in regards to Goldplay's Borba 2 projects located in Portugal

Terms of the Agreement

Cullinan can acquire 100% interest in the Borba 2 properties by making the following cash and share payments to Goldplay and incurring certain exploration expenditures over a 4 years period.

Date

Cash

Share Issuance in
$ Equiv.

Aggregate of Work
Expenditures

Upon signing the Definitive Agreement

$50,000

60 days after regulatory approval

$200,000

$250,000

NI 43-101 Report

One Year Anniversary

$75,000

$350,000

$0.2 Million

Two Year Anniversary

$100,000

$500,000

$0.3 Million

Three Year Anniversary

$150,000

$750,000

$0.5 Million

Four Year Anniversary

$175,000

$1,150,000

$0.5 Million

Total

$750,000

$3,000,000

$1.5 Million

Goldplay will retain a royalty interest of one percent (1%) net smelter returns ("NSR") from minerals mined and removed by Commercial Production from any mine located on the Property. One-half percent (0.5%) of the royalty interest can be purchased at any time for $500,000 CAD.

Catalin Kilofliski, President & CEO stated: "We are very excited to have the opportunity to partner with a group of very successful mining entrepreneurs and move forward some of our Portuguese projects in a way that generates significant value for our shareholders with no dilution, while maintaining the ability to participate in the project's upside, through Goldplay's future equity position in Cullinan. This transaction represents the first step in our strategy to focus our own resources only on certain key assets, while finding partners to advance some of our other projects. "

About Goldplay Mining

Goldplay Mining is a Canadian public company listed on TSXV and in US on OTCQB. Goldplay holds large district scale gold, and copper-gold projects located in BC's Golden Triangle and southwestern BC with potential for world class mineral discoveries. The Company also holds several brownfield gold, and copper-gold projects located in Portugal with near term mining potential.

On behalf of the Board of Directors

"Catalin Kilofliski"
President, CEO & Director

For further information please contact:

Goldplay Mining Inc.

Mr. Catalin Kilofliski, President & CEO
Suite 650 - 1021 West Hastings Street
Vancouver, BC V6E 0C3
T: (604) 655-1420
E: catalin@goldplaymining.ca
www.goldplaymining.ca

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the exploration potential of the Property. Generally forward-looking statements can be identified by the use of terminology such as "anticipate", "will", "expect", "may", "continue", "could", "estimate", "forecast", "plan", "potential" and similar expressions. These forward-looking statements involve risks and uncertainties relating to, among other things, results of future exploration and development activities, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, changes in commodity prices and unanticipated environmental impacts on operations. Although the Company believes current conditions and expected future developments and other factors that have been considered are appropriate and that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct or enduring. Readers are cautioned to not place undue reliance on forward-looking information. The statements in this press release are made as of the date of this release. Except as required by law, the Company does not undertake any obligation to update publicly or to revise any forward-looking statements that are contained or incorporated in this press release. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement. There is no certainty that the LOA will be followed by a definitive agreement and that the transaction will close as contemplated.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE:Goldplay Mining Inc.



View source version on accesswire.com:
https://www.accesswire.com/704803/Goldplay-Signs-375M-Letter-of-Agreement-to-JV-Part-of-Its-Portuguese-Assets

News Provided by ACCESSWIRE via QuoteMedia

AUC:CA
The Conversation (0)
Goldplay Appoints Chris Osterman as CEO and Catalin Kilofliski as Executive Chair

Goldplay Appoints Chris Osterman as CEO and Catalin Kilofliski as Executive Chair

TSXV: AUC) (OTCQB:AUCCF), (Frankfurt:9FY), (the "Company" or "Goldplay"), is pleased to announce that in order to further advance Company's existing portfolio of projects in Portugal and beyond, Mr. Christopher Osterman has been appointed as the Company's Chief Executive Officer effective August 4, 2022. Mr. Catalin Kilofliski, has been appointed as Goldplay's Executive Chairman and will continue to lead Company's strategy. Goldplay's current Chair of the Board, Dr. Deepak Malhotra has been appointed as Lead Independent Director

Chris Osterman, PhD Geologist, Chief Executive Officer

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Goldplay Appoints President and VP Exploration

Goldplay Appoints President and VP Exploration

TSXV:AUC) (OTCQB:AUCCF), (Frankfurt:9FY), (the "Company" or "Goldplay"), is pleased to announce that in order to significantly strengthen Company's technical and leadership capabilities, it has split the Company's President and CEO roles and has appointed a highly experienced President as well as a highly experienced Vice President Exploration to lead Company's plans and strategy together with Goldplay's CEO, Mr. Catalin Kilofliski

Effective July 1st, 2022 Mr. Christopher Osterman was appointed as the Company's President following the decision to split the Company's President and CEO role, and Mr. Jose Mario Branco as the Company's Vice President Exploration. Both roles are reporting to the Company's CEO.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Goldplay To Exhibit at PDAC, Booth 3352

Goldplay To Exhibit at PDAC, Booth 3352

TSXV:AUC)(OTCQB:AUCCF)(Frankfurt:9FY), (the "Company" or "Goldplay"), is pleased to announce that it will be exhibiting at the annual 2022 Prospectors & Development Association of Canada Convention (PDAC), the world's premier mineral exploration & mining event. We invite all our shareholders and conference delegates to visit us at booth # 3352. The in-person event will be held at the Metro Toronto Convention Centre (MTCC) from Monday, June 13 to Wednesday, June 15, 2022

We welcome all stakeholders to come visit our senior team members who are attending PDAC from Portugal and BC and discuss one on one Goldplay's plans for 2022 and beyond.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Goldplay Signs Letter of Agreement With Portuguese State Owned Mining Company and Files Joint Exploration Application in the World-Class Iberian Pyrite Belt

Goldplay Signs Letter of Agreement With Portuguese State Owned Mining Company and Files Joint Exploration Application in the World-Class Iberian Pyrite Belt

TSXV:AUC)(USOTCQB:AUCCF)(Frankfurt:9FY), (the "Company" or "Goldplay"), is pleased to announce that it has signed a Letter of Agreement (the "LOA") with Empresa de Desenvolvimento Mineiro SA ("EDM"), a Portugese State owned mining company, in regards to an application submitted for a new exploration concession totaling 137 square kilometers ("Monte das Mesas " or the "Property") located in the world-class VMS district in the Iberian Pyrite Belt ("IBT"). The Company believes that the Property holds great potential to host significant base and precious metals mineralization

The LOA was signed by Goldplay and EDM on April 7, 2022 and the Property's exploration application has been filed with the Portuguese Mines Department on May 6, 2022. A consortium agreement will be signed upon granting of the mineral rights. EDM will participate with 15% and Goldplay with 85% in the consortium. EDM will have a free carried interest in the consortium until Goldplay has completed a total of 650,000 Euro in exploration costs. This amount represents the total of EDM's previous exploration expenditures on the Property. Future exploration costs in excess of 650,000 Euro will be funded by each party on proportional basis.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Goldplay Drills 12.2m of 1.18% Copper, Including 5.5m of 2.33 % Copper at Aparis Mine, In Southern Portugal

Goldplay Drills 12.2m of 1.18% Copper, Including 5.5m of 2.33 % Copper at Aparis Mine, In Southern Portugal

TSXV:AUC) (OTCQB:AUCCF), (Frankfurt:9FY), (the "Company" or "Goldplay"), is pleased to announce new drill results from the Phase 1 drilling program completed at the Aparis Copper Mine ("Aparis") in Southern Portugal. The Aparis mine is part of the 73.2 km2 Barrancos exploration license, and two other projects, held by a private Portuguese company, Indice Crucial Lda ("Indice Crucial") on which Goldplay can earn up to 100% interest (see Company's news release dated June 23, 2021 for more details

HIGHLIGHTS

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Questcorp Signs Letter of Intent to Acquire Interest in La Union Project, Sonora, Mexico

Questcorp Signs Letter of Intent to Acquire Interest in La Union Project, Sonora, Mexico

Questcorp Mining Inc. (CSE: QQQ) (FSE: D910) (the "Company" or "Questcorp") is pleased to announce that it has entered into a letter of intent (the "Letter of Intent"), dated effective September 4, 2024, with Riverside Resources Inc. (TSXV: RRI) ("Riverside"), an arms-length party, whereby the Company will be granted an option (the "Transaction") to acquire a one-hundred percent (100%) interest in the La Union project (the "Project") located in Sonora, Mexico.

In accordance with the terms of the Transaction, the Company can acquire a one-hundred percent (100%) interest in the Project in consideration for completion of a series of cash payments totaling $100,000, the issuance of 19.9% of the outstanding common shares of the Company, and the incurrence of no less than $5,500,000 of exploration expenditures on the Project, as follows:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Avrupa Minerals Closes $350,000 Private Placement

Avrupa Minerals Closes $350,000 Private Placement

(TheNewswire)

Avrupa Minerals Ltd.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Aston Bay and American West Metals Announce 13% Copper in Assays at the Cyclone Deposit and a New Copper Discovery at the Storm Project, Nunavut, Canada

Aston Bay and American West Metals Announce 13% Copper in Assays at the Cyclone Deposit and a New Copper Discovery at the Storm Project, Nunavut, Canada

Drilling Highlights

  • Drilling surpasses 20,000 metres ("m") with 128 Reverse Circulation (RC) drill holes and 14 diamond drill holes now completed in 2024 at Storm and Tempest

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Cancellation of Trident Shares to Trading on AIM

Cancellation of Trident Shares to Trading on AIM

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

On 13 June 2024, the boards of Deterra Global Holdings Pty Ltd ("Bidco") and Trident Royalties PLC ("Trident") announced that they had agreed the terms of a recommended cash acquisition of Trident by Bidco pursuant to which Bidco will acquire the entire issued and to be issued share capital of Trident (the "Acquisition") to be effected by means of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"). The circular in relation to the Scheme was published on 4 July 2024 (the "Scheme Document

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Prismo Metals Acquires Data and Updates Model for Hot Breccia Copper Project in Arizona

Prismo Metals Acquires Data and Updates Model for Hot Breccia Copper Project in Arizona

Prismo Metals Inc. (the "Company") (CSE:PRIZ)(OTCQB:PMOMF)(FSE:7KU) is pleased to announce that it has updated the mineralization model for the Hot Breccia project in Southern Arizona based on important historical information recently acquired from a third party. The information includes historic Bear Creek Mining Company (then a subsidiary of Kennecott Copper Co. (now part of Rio Tinto, ASX: RIO) exploration data, gathered between the completion of a masters thesis by Larry Barrett (1972) (1) through the completion of their first drill hole on our Hot Breccia property between 1972 and mid-1974. The recently acquired information includes a complete log and assays for hole OC-1 and a geological interpretation after holes OC-1 to OC-3 were completed(2

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Trident Royalties PLC Announces Scheme Of Arrangement Becomes Effective

Trident Royalties PLC Announces Scheme Of Arrangement Becomes Effective

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

RECOMMENDED CASH ACQUISITION

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×