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NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A
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SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO
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SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE. THIS NEWS
RELEASE DOES NOT CONSTITUTE AN OFFER OR SALE OF SECURITIES IN THE UNITED STATES.
AURUM LAKE MINING CORPORATION
Brookfield Place, Suite 4400
181 Bay Street, Toronto, ON M5J 2T3
PRESS RELEASE
November 8, 2023 TSX-V: ARL.P
AURUM LAKE MINING RECEIVES CONDITIONAL APPROVAL REGARDING
QUALIFYING TRANSACTION
TORONTO, ON – Aurum Lake Mining Corporation (“Aurum” or the “Company”) is pleased to
announce that further to its news release of Decemb er 21, 2022, it has received conditional approval from
the TSX Venture Exchange (the “ Exchange”) to complete Aurum’s option (the “ Option”) to acquire a
100% interest of certain mineral claims known as the Homathko Gold Project, located in the Province of
British Columbia (the “ Homathko Property”) pursuant to an option agr eement with Transition Metals
Corp. (the “Option Agreement”). The Option Agreement will constitute its “Qualifying Transaction” (the
“Transaction”) in accordance with Exchange Policy 2.4 - Capital Pool Companies (“Policy 2.4”).
In connection with the Transaction, Aurum plans to complete a non- brokered private placement (the
“Concurrent Financing”) of 5,000,000 common shares (the “Common Shares”) in the capital of Aurum
at a price of $0.40 per Common Share to raise aggreg ate proceeds of up to $2,0 00,000. Aurum intends to
use the proceeds from the Concurrent Financing to f und the exercise of the Option, the exploration of the
Homathko Property, and to satisfy the general wo rking capital of the resulting issuer following the
Transaction.
In connection with the Concurrent Financing, Auru m will pay a finder’s fee consisting of (i) a cash
commission in the amount of 6% of the gross proceeds raised in the Concurrent Financing from persons
introduced to Aurum by the finder (the “ Cash Fee ”) and (ii) compensation warrants (“ Finder’s
Warrants”) equal to 6% of the aggregate Common Shares subscribed for by persons introduced to Aurum
by the finder. The payment of the Cash Fee and th e issuance of the Finder’s Warrant will occur upon on
completion of the Transaction. Each Finder’s Warrant entitles the holder thereof to purchase one Common
Share at an exercise price of $0.40 per Common Share for a period of twenty-four (24) months from the
date of issuance of the respective Finder’s Warrant. Assuming a Concurrent Financing of $2,000,000, the
Company will issue up to 300,000 Finder’s Warrants pursuant to the Concurrent Financing.
Completion of the Transaction is subject to the satisf action of the conditions of the Exchange including
completion of the Concurrent Financing.
For further information please contact:
Patrick Sapphire
Chief Executive Officer
Phone: 647-530-1117
Completion of the Transaction is subject to a number of conditions, including, but not limited to, Exchange
acceptance and, if applicable pursuant to Exchange re quirements, majority of the minority shareholder
approval. Where applicable, the Transa ction cannot close until the required shareholder approval is
obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement
to be prepared in connection with the Transaction, any information released or received with respect to the
Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a
capital pool company should be considered highly speculative.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statements
This press release may contain certain “forward-looking statements.” Forward-looking statements involve
known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results,
performance or achievements of the Company to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking statements. These forward-
looking statements or information may relate to th e Transaction, the Concurren t Financing, and various
approvals required in connection with the Transacti on and the Concurrent Financing, the reliability of
third-party information and other factors or information Any forward-looking statement speaks only as of
the date of this news release and, except as may be required by applicable securities laws, the Company
disclaims any intent or obligation to update any forward-looking statement, whether as a result of new
information, future events or results or otherwise.