Liberty Gold Receives Final US$2.5M Option Payments for Kinsley
VANCOUVER, British Columbia, May 18, 2022 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the Company) is pleased to announce the receipt of the final option payments for the sale of the 79.9% interest in the Kinsley Mountain gold project in Nevada (Kinsley) from CopAur Minerals Inc. (TSXV:CPAU) (CopAur).
- VANCOUVER, British Columbia, May 18, 2022 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the Company) is pleased to announce the receipt of the final option payments for the sale of the 79.9% interest in the Kinsley Mountain gold project in Nevada (Kinsley) from CopAur Minerals Inc. (TSXV:CPAU) (CopAur).
- CopAur has now satisfied all requirements under the terms of option agreement for the sale of the Companys interest in Kinsley (the Kinsley Agreement).
- Prior to the receipt of the final option payment, Liberty Gold owned 3,081,042 CopAur Shares following the completion of the recent merger between CopAur and New Placer Dome Gold Corp. On closing of the Kinsley Agreement Liberty Gold has received in aggregate US$3.75M in cash and now holds 5,207,493 CopAur Shares, representing 10.23% of the issued and outstanding shares of CopAur.
- Liberty Gold retains a 1% Net Smelter Return Royalty (NSR) on Kinsley where CopAur, has the right to re-purchase up to one-half percent of the NSR upon payment of US$500,000.