Bald Eagle Announces Closing of Aqusition of Leviathan Property and Provides Corporate Update
Bald Eagle Announces Closing of Aqusition of
Leviathan Property and Provides Corporate
Update
/NOT FOR DISSEMINATION IN
THE UNITED STATES
OR FOR DISTRIBUTION TO U.S. WIRE
SERVICES/
TORONTO
,
Nov. 29, 2021
/CNW/ - Bald Eagle Gold Corp., ("
Bald Eagle
" or the "
Company
")
(TSXV: BIG) (OTCBQ: BADEF) announces that further to the Company's press release dated
November 16, 2021
, the Company has closed the acquisition of a 100% interest in the Leviathan
Property located in the Heath Mining District of
Washington County, Idaho
, USA (the "
Property
").
The Property is located immediately east of and adjoins the Company's recently acquired Hercules
silver property.
The Company acquired (the "
Transaction
") the Property by purchasing all of the issued and
outstanding common shares of Frontier Metals Canada Holdings Corp. ("
Frontier Canada
").
Frontier Canada
is a private company existing under the laws of
British Columbia
. In connection with
the Transaction, the Company issued to the holders of the common shares of
Frontier Canada
(the
"
Vendors
") 10,000,000 common shares of the Company at a deemed price of
$0.045
per share and
entered into a net smelter return royalty agreement granting the Vendors a perpetual two percent
(2.0%) royalty relating to all production from the Property.
In connection with the closing of the Transaction subject to approval of the TSX Venture Exchange,
the Company has appointed
Christopher Paul
to the Board of Directors of the Company (the
"
Board
").
Mr. Paul holds a B. Sc. in Geology from
Simon Fraser University
, 2014, and a Diploma in Mining &
Mineral Exploration Technology, 2011, from the British Columbia Institute of Technology. Mr. Paul is
a Principal and Founder of Ridgeline Exploration, a technical services company which was recently
acquired by Goldspot Discoveries Corp. He has served in numerous senior exploration management
roles including most recently as the Vice President of Exploration for Golden Ridge Resources Ltd.
where he was fundamental in the discovery of the Williams copper gold porphyry in the Golden
Triangle region of
British Columbia
.
Corporate Update
The Company is pleased to announce that Mr. Raymond Harari has been appointed Chief Executive
Officer of the Company and Mr. Sidney Himmel has been appointed Chairman of the Board. Mr.
Harari will continue as the President of the Company and as a member of the Board and Mr.
Himmel has stepped down as Executive Chairman of the Company.
The Company further announced that it has filed its financial results for the three and nine months
ended September 30, 2021. Additional information concerning Bald Eagle's consolidated financial
statements and related management's discussion and analysis for the three and nine months ended
September 30, 2021
can be found at on SEDAR at
www.sedar.com
.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of
advanced exploration assets in known precious metal districts in the Americas. The Company's
objective is to acquire advanced exploration projects for exploration and development. The Company
intends to, through evaluating historical data and utilizing modern exploration techniques and
geological concepts enhance resources. The management team and board of directors of the
Company have an established track record of creating significant returns for investors and have
demonstrated access to capital to advance the development of assets.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in
the United States
. Any securities referred to herein have not and will not be registered
under the United States Securities Act of 1933, as amended (the "
U.S. Securities Act
") or any state
securities laws and may not be offered or sold within
the United States
or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws of an exemption from
such registration is available.
Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation. Generally, forward-looking information can be identified by the use of forward-
looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain acts, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information in this
press release may include, without limitation, statement and information regarding the future
operating or financial performance of Bald Eagle and approval of the TSX Venture Exchange of
appointment of Mr. Paul as the new director of Bald Eagle.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance or achievements of Bald Eagle, as
the case may be, to be materially different from those expressed or implied by such forward-looking
information. Although Bald Eagle has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking information. Bald Eagle does not undertake to update any
forward-looking information, except in accordance with applicable securities laws.
SOURCE
Bald Eagle Gold Corp.
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http://www.newswire.ca/en/releases/archive/November2021/29/c6309.html
%SEDAR: 00045528E
For further information:
Raymond D. Harari, CEO, President & Director, Telephone +(507) 6675-
2221, Email: [email protected]
CO: Bald Eagle Gold Corp.
CNW 07:00e 29-NOV-21