aerie canada

American Eagle Anounces $1,000,000 Private Placement

American Eagle Gold Corp. (TSXV: AE) (" American Eagle " or the " Company ") would like to announce that it intends to complete a non-brokered private placement (the "Offering") of up to 7,142,857 flow-through units of the Company (the "FT Units") at a price of C$0.14 per FT Unit for gross proceeds to the Company of C$1,000,000 . Each FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act ( Canada ) (each, a "FT Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share at a price of C$0.25 at any time two years from the closing of the Offering.

Proceeds from the Offering will be used for expanded exploration work at the Company's recently purchased NAK project located in the Babine Copper-Gold Porphyry district in central British Columbia.

The gross proceeds from the issuance of the FT Shares will be used for "Canadian Exploration Expenses" (within the meaning of the Income Tax Act ( Canada )) (the "Qualifying Expenditures"), which will be renounced with an effective date no later than December 31, 2021 to the purchasers of the FT Shares in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares.  If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each subscriber of FT Shares for any additional taxes payable by such subscriber as a result of the Company's failure to renounce the Qualifying Expenditures.

About American Eagle Gold Corp.

American Eagle Gold is traded on the TSX Venture Exchange under the symbol 'AE' and is focused on exploring its flagship property, Golden Gate.  The Property is situated on the Cortez Trend, which hosts three large Carlin-type gold deposits operated by Barrick and Newmont's Joint Venture, Nevada Gold Mines (Pipeline, Cortez Hills and Goldrush).  The Property is located 10 km south of Cortez Hills and 5 km south of Goldrush and shows many of the same geological characteristics as at the two deposit areas.

Forward-Looking Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release. Completion of the Offering and the purchase of the NAK project both remain subject to approval of the TSX Venture Exchange.  Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding completing of the Offering. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp.  Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under American Eagle Gold Corp. profile at www.sedar.com .

SOURCE American Eagle Gold Corporation

View original content: https://www.newswire.ca/en/releases/archive/December2021/15/c2157.html

News Provided by Canada Newswire via QuoteMedia

AE:CA
The Conversation (0)
American Eagle Advancing Towards Drilling Known Mineralized Target at Copper-Gold Porphyry Project in British Columbia

American Eagle Advancing Towards Drilling Known Mineralized Target at Copper-Gold Porphyry Project in British Columbia

 American Eagle Gold Corp. (TSXV: AE) (" American Eagle " or the " Company ") continues to advance its British Columbia copper-gold porphyry project NAK. Charlie Greig who led the discovery of GT Gold's Saddle copper-gold deposit,  is advising and executing American Eagle's exploration program at NAK. The Company is fully funded for NAK's 2022 exploration program and is awaiting its permit to begin drilling.

The planned drill program on NAK consists of 8 diamond drill holes totaling 4,500m targeting the newly identified geophysical feature within a well-understood copper-gold porphyry province. NAK's known copper-gold porphyry mineralization is open at depth, and the compelling deep geophysical signature is analogous to Newcrest's Red Chris Mine and Newmont's Tatogga project in northwest BC.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
American Eagle Updates on Golden Gate Project

American Eagle Updates on Golden Gate Project

American Eagle Gold Corp. ( TSXV: AE ) (" American Eagle " or the " Company ") has completed its inaugural scout drill program located at its Golden Gate property, within the Cortez Trend and adjacent to Barrick's Goldrush mine. Drilling focused on the Northern Cortez (GG21-001) and Southern Cortez targets (GG21-002), located in the footwall of the Cortez Fault zone, 10km southeast of Barrick's Cortez Hills mine and 5km southwest of Barrick's Goldrush mine

While no significant gold mineralization was encountered, the Company is encouraged by having identified deep alteration analogous to Barrick Gold's Goldrush, Fourmile, and Cortez Hills projects next door. The drill core from GG21-001 was geologically logged in detail and photographed and sampled for gold and multi-element geochemical analysis. Drilling at hole GG21-002 was challenging due to difficult drilling conditions and supply chain issues. Despite the technical problems, the target concept for GG21-002 remains valid and requires full drill testing. Therefore, GG21-002 will be re-entered and deepened upon sourcing a reverse circulation rig to test for lower plate rocks and mineralization.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
American Eagle Updates on NAK Copper-Gold Project; Expands its Team

American Eagle Updates on NAK Copper-Gold Project; Expands its Team

American Eagle Gold Corp. (TSXV: AE) (" American Eagle " or the " Company ") is pleased to announce that it is continuing to advance its British Columbia copper-gold Porphyry project, NAK. The Company is fully funded for NAK's 2022 exploration program and is awaiting its permit to begin drilling. American Eagle has contracted C.J. Greig and Associates to advise and execute the Company's exploration program at NAK. Geologist and president of C.J Greig & Associates, Charlie Greig is a recipient of the prestigious 2022 Bill Dennis Award, recognizing his contribution to the prospecting and exploration industry or a significant mineral discovery.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
American Eagle Closes NAK Acquisition and $1.5 Million Financing

American Eagle Closes NAK Acquisition and $1.5 Million Financing

 American Eagle Gold Corp. (TSXV: AE) (" American Eagle " or the " Company ") is pleased to announce that it has received final approval from the TSX Venture Exchange (the " Exchange ") and has closed on the acquisition of an option to acquire a 100% interest in the NAK property (" Project ") in the Babine Copper-Gold Porphyry district in central British Columbia . American Eagle also announces that it has closed on a $1,510 ,774 Flow-Through Financing.

NAK Acquisition

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
American Eagle to Acquire the NAK Copper-Gold Porphyry Project in British Columbia

American Eagle to Acquire the NAK Copper-Gold Porphyry Project in British Columbia

American Eagle Gold Corp. (TSXV: AE) (" American Eagle " or the " Company ") is pleased to announce it has entered into an agreement to acquire a 100% interest in the Nakinilerak Property (" NAK " or the " Property ") in the Babine Copper District of British Columbia .

NAK is a copper-gold porphyry exploration target in the Stikine Island Arc Terrane, which hosts many copper-gold porphyry deposits. NAK's known copper-gold porphyry mineralization is open at depth and is defined by a compelling geophysical signature analogous to Newcrest's Red Chris Mine and Newmont's Tatogga project located in Northwest BC.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Tempest Minerals

TEM | Yalgoo Update - Further Excellent Iron Results

Tempest Minerals Limited (ASX: TEM) is pleased to update that recent RC drilling at the Remorse Target has identified the presence of thick, high-grade, magnetite-hosted iron in initial assays which has now been confirmed with multiple drill holes over several kilometres of strike length. The Remorse Target is situated within the Company’s 100% owned Yalgoo Project which has multiple world-class iron ore operations nearby.

Keep reading...Show less
Great Boulder Resources

Divestment of Non-Core Whiteheads Gold Project

Great Boulder Resources (“Great Boulder” or the “Company”) (ASX: GBR) is pleased to provide an update regarding its Whiteheads Gold Project located 40km north of Kalgoorlie, Western Australia.

Keep reading...Show less
Sarama Resources

Sarama Announces Equity Placement of up to A$2M and Issue of Equity for Debt

Sarama Resources Ltd. (“Sarama” or the “Company”) (ASX:SRR, TSXV:SWA) is pleased to announce it has received binding commitments to undertake a A$2 million (before costs) equity placement (the “Placement”).

Keep reading...Show less
Rio Silver

Rio Silver


Keep reading...Show less
M&A graphic.

Orla to Buy Musselwhite Gold Mine from Newmont for US$850 Million

Orla Mining (TSX:OLA,NYSEAMERICAN:ORLA) has entered into a definitive deal to buy the Musselwhite gold mine from Newmont (TSX:NGT,NYSE:NEM), positioning the company to more than double its annual gold production.

The purchase, valued at US$810 million, with two additional contingent payments of US$20 million each, will set Orla up as a diversified North American gold producer as it marks the company's entry into Canada.

The first contingent payment will be made if the spot gold price exceeds US$2,900 per ounce in the first year after the transaction closes, and the second will be made if the price exceeds US$3,000 in the second year after closure.

Keep reading...Show less

Latest Press Releases

Related News

×