Kingston, Ontario– (August 26, 2024) – A mineral exploration company based in Canada has successfully negotiated an agreement with the original vendors of the Horne and Laurie properties at the Delta-1 property in Thunder Bay, Ontario. As part of the new agreement, future cash payments of $350,000 and work commitments totaling $1,000,000 over the next three years have been eliminated.
On May 1, 2024, the company announced an agreement with another corporation, whereby it acquired the Horne and Laurie Properties’ agreement with the original vendors of the properties. This new agreement, dated August 22, 2024, allows the company to acquire a 100% interest in both Horne and Laurie properties by issuing a total of 2,000,000 shares and 1,500,000 warrants of the company at a set price.
The original vendors will retain a Net Smelter Return Royalty (NSR) on the properties under this new agreement. Delta also has the right to buy back a portion of the interest in the future.
Overall, the properties cover 113 claim units over approximately 24 square kilometers and are contiguous with the original Delta-1 property. This strategic acquisition provides the company with increased flexibility in allocating exploration funds and expanding its gold inventory.
The agreement is still subject to regulatory approval and remains part of the company’s ongoing efforts to enhance shareholder value through exploration in high-potential gold and base-metal projects across Canada.
For further information, individuals can contact the company’s CEO and President or Chairman as listed above. The company emphasizes forward-looking information and reminds investors of the uncertainties inherent in such statements.
SOURCE: Delta Resources Limited
