Bullion GOLD Announces Option Agreement to Sell up to 100% of the Lichen Property
LEGAL_35425048.1.docx
NEWS RELEASE TSX.V: BGD
OTC : TTEXF
BULLION GOLD ANNOUNCES OPTION AGREEMENT TO SELL UP TO 100% OF
THE LICHEN PROPERTY
May 19th, 2021: Montréal, Québec – Bullion Gold Resources Corp. (TSX-V: BGD) (“Bullion Gold” or
the “Corporation”) is pleased to announce that it has entered into an Option Agreement (the “Agreement”)
with Mosaic Minerals Corporation (“Mosaic”) to sell up to 100% of the Lichen Property (the “Property” or
“The Project”) located in the Chapais -Chibougamau area, in northern Quebec. The property, made up of
178 cells with a dimension of approximately 9,968 hectares, is accessible year -round by a set of forest
roads maintained by the various forestry companies working in this sector.
Terms of Agreement
For and in consideration of the issuance of the Consideration Shares and incurring the Expenditures Bullion
hereby grants to Mosaic the exclusive right and option to earn up to an 100% interest in the Lichen Property,
such Consideration Shares to be issued and expenditures made as follows:
(a) Issue to Bullion 3,000,000 shares of Mosaic, the Consideration Shares so soon as is practicable
but not longer than seven (7) days following the execution of this Option, and the filing with and the receipt
of required approvals to this acquisition by the Canadian Securities Exchange.
(b) Mosaic incurring One Hundred Thousand ($100,000) dollars of Expenditures on or before May 31,
2022; and
(c) Mosaic incurring Three Hundred Fifty Thousand ($350,000) dollars of Expenditures on or befo re
May 31, 2024. Exploration’s expenditures may be accelerated at any time by Mosaic.
Royalty
If The Project is brought into commercial production, then Bullion will receive a total of 2% NSR royalty on
the net smelter income. Mosaic retains the right to buy back 50% of the 2% NSR at any time for a
consideration of $500,000 CDN. Mosaic also obtains a first right of refusal on the remaining 1% NSR.
Mr. Gilles Laverdière . P.Geo, director and qualified person under NI 43 -101 has read and approved this
press release.
About Bullion Gold
Bullion Gold is involved in the identification, exploration and development of viable mineral properties in
the Province Quebec and British Columbia. For more information on the Corporation, visit
www.bulliongold.ca
For further information, please contact:
LEGAL_35425048.1.docx
Jonathan Hamel
President and CEO
Other Information
The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts no responsibility for the veracity or accuracy of its content.
Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements
are frequently characterized by word s such as "plan", "expect", "project", "intend", "believe", “anticipate", "estimate",
"may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions
"may" or "will" occur. The forward -looking statements are based on certain key expectations and assumptions made
by the Corporation. Although Bullion Gold believes that the expectations and assumptions on which the forward-looking
statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because
Bullion Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future
events and conditions, by their very nature they involve inherent risks and uncertainties. Actua l results could differ
materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect
the forward-looking statements in this press release are those set out in the Corporation’s management discussion and
analysis of the financial condition and results of operations for the year ended December 31, 2019 and the third quarter
ended September 30, 2020, which are available on the Corporation’s profile at www.sedar.com. The forward-looking
statements contained in this press release are made as of the date hereof and Warrior Gold undertakes no obligation
to update publicly or revise any forward -looking statements or information, whether as a result of new information,
future events or otherwise, unless so required by applicable securities laws.
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