ALX Resources Corp. Announces Definitive Option Agreement with Trinex Minerals for the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan
In addition, Trinex Minerals Limited, the parent company of Trinex Canada, has issued 68,743,011 fully paid ordinary shares to ALX representing a value of CAD$250,000 (the "Shares").
- In addition, Trinex Minerals Limited, the parent company of Trinex Canada, has issued 68,743,011 fully paid ordinary shares to ALX representing a value of CAD$250,000 (the "Shares").
- Trinex Canada may withdraw from the Initial Option Interest or Second Option Interest at any time.
- If Trinex Canada withdraws prior to earning the 51% Project interest, then it will not acquire any interest in the Project.
- Under the terms of the Definitive Agreement, Trinex Canada will assume operatorship of exploration at Gibbons Creek and will reimburse ALX for the costs of the 2024 program, which totalled approximately CAD$500,000.