GFG Provides Update on Rattlesnake Hills Gold Project Option Agreement with Group 11 Technologies
SASKATOON, Saskatchewan, Sept. 11, 2023 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces the termination of its option and earn-in agreement (the “Agreement”) with Group 11 Technologies Inc. (“Group 11”), a privately-owned corporation, to advance GFG’s Rattlesnake Hills Gold Project (the “Project”) in Wyoming, United States.
- SASKATOON, Saskatchewan, Sept. 11, 2023 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces the termination of its option and earn-in agreement (the “Agreement”) with Group 11 Technologies Inc. (“Group 11”), a privately-owned corporation, to advance GFG’s Rattlesnake Hills Gold Project (the “Project”) in Wyoming, United States.
- Under the terms of the Agreement, Group 11 had the right to acquire, in multiple stages, up to 70% of the Project by completing a series of exploration and development expenditures and making staged cash and equity payments to GFG.
- Brian Skanderbeg, President and CEO of GFG commented, “Through our Agreement and the positive metallurgical results from Rattlesnake Hills, Group 11 demonstrated the real potential for In-Situ Recovery application to be used in the gold industry.
- The Rattlesnake Hills Gold Project is a gold exploration project located in central Wyoming approximately 100 km southwest of Casper.