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Japan Gold Corp. (TSXV: JG,OTC:JGLDF) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to announce that it has granted a 9 month extension to OR Royalties Inc., ("OR Royalties") giving it the right to acquire an additional 0.5% royalty in certain properties in consideration for US$3 million. The agreement (the "Amending Agreement") gives OR Royalties until November 4, 2026, to exercise the right to increase their existing royalty interest from 1.5% to 2% by paying US $3 million to the Company.
After May 5, 2026, Japan Gold can accelerate the November 4, 2026 date by giving OR Royalties 30 days' notice, if the Company announces that it has entered into a joint venture or similar agreement with a mid-tier or major mining company, and that agreement requires the partner to invest a minimum of C$5.0 million in cash proceeds into Japan Gold or the properties covered by the royalty in favour of OR Royalties, within six (6) months of the date on which the joint venture agreement is executed.
Pursuant to the original agreement (see news release dated February 4, 2025), OR Royalties acquired an initial 1.5% net smelter return royalty on certain properties and assets in Japan for cash consideration of US$5,000,000.
The Amending Agreement is subject to the regulatory approval from the TSX Venture Exchange.
About Japan Gold Corp.
Japan Gold Corp. is a Canadian mineral company focused on the exploration and discovery of high-grade epithermal gold deposits across the main islands of Japan. The Company holds a significant portfolio of tenements covering areas with known gold occurrences, history of mining and prospective for high-grade epithermal gold mineralization in one of the most stable and under explored countries in the world. The Japan Gold leadership and operational team of geologists, drillers and technical advisors have extensive experience exploring and operating in Japan and have a track record of discoveries world-wide. Significant shareholders include Equinox Partners Investment Management LLC and Newmont Corporation.
On behalf of the Board of Japan Gold Corp.
John Proust
Chairman & CEO
For further information, please contact:
Alexia Helgason
Vice President, Corporate Communications
Phone: +1(604) 417-1265
Email: ahelgason@japangold.com
Cautionary Note
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements relating to expected or anticipated future events and anticipated results related to the Amending Agreement, the further investment of US$3 million in consideration for an additional royalty interest and joint ventures by the Company with third parties. These statements are forward-looking in nature and, as a result, are subject to certain risks and uncertainties that include, but are not limited to, the decision by OR Royalties to exercise its option to increase its royalty, the Company's ability to execute and implement future plans, arrange or conclude a joint venture or partnership; and the occurrence of unexpected events. Actual results achieved may differ from the information provided herein and, consequently, readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this News Release. The Company disclaims any intention or obligation to update or revise forward‐looking information or to explain any material difference between such and subsequent actual events, except as required by applicable laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282820
