Deals this week: Evolving Gold, Garibaldi Resources, Pilot Gold
Evolving Gold (EVG) has signed a purchase and sale agreement to acquire the Lithium Lakes Property in Quebec, Canada.
The property hosts 105 mineral claims in four blocks, covering an area of approximately 5,596.5ha.
Under the agreement, EVG will be required to issue 300,000 shares, pay C$0.04m ($0.03m), and offer a 1% net smelter returns royalty (NSR) to the unnamed party. EVG has the option to repurchase one half of the NSR in exchange for C$500,000 ($300,000).
Garibaldi Resources has announced that it has bought an option to wholly acquire the 100% undivided interest in the historic 766ha E&L nickel-copper-gold deposit and its surrounding claims in Golden Triangle, British Columbia, Canada.
Under the deal agreement, Garibaldi Resources will pay C$100,000 in cash, issue 1.1 million shares, pay the exploration expenditure on the property totalling C$375,000 by the fourth year of the option, and offer a certain NSR to the vendor.
Pilot Gold has completed the acquisition of 100% interest in the Mineral Gulch Property located in Cassia County, Idaho, US, from Western Pacific Resources Corporation.
In exchange for the property, Pilot Gold paid the Western Pacific Resources Corporation $800,000 in cash, issued 300,000 common shares priced at C$0.70 ($0.54) each, and granted a further 0.5% NSR.
Westminster Resources has signed a letter of intent (LoI) with a vendor to acquire a 100% interest in four mineral claims east of Yellowknife in Canada's North West Territories.
Under the LoI, Westminster will pay C$15,000 ($11,648.5) in cash and conclude a definitive agreement within 20 business days, then paying al further C$10,000 ($7,765.66) and issue 2.5 million common shares priced at C$0.13 ($0.10) each.