Chimata GOLD Corp Enters into Ammended Option Agreement FOR the Troilus North Property in Quebec
202 – 905 West Broadway, Vancouver, BC V5Z 4M3
TSX.V – CAT
CHIMATA GOLD CORP ENTERS INTO AMMENDED OPTION AGREEMENT FOR THE
TROILUS NORTH PROPERTY IN QUEBEC
Vancouver, BC August 13 , 2018 – Chimata Gold Corp. ( CSE: CAT) (“Chimata” or the
“Company”) announces that it has entered into an Amendment to the Option Agreement (the
“Option Agreement”) previously entered into with Emgold Mining Corporation (“ Emgold”) on
June 27, 2018 as announced in a press release on the same day, granting Emgold the option to
acquire up to a 100% interest in the Troilus North Property (the ”Property”) from the Company
(the “Amending Agreement”)
In return for CDN$200,000 to be paid by Emgold in cash to the Company - and the issuance of a
total of six million (6,000,000) common shares of Emgold common stock (the “Emgold Shares”)
to the Company, two million (2,000,000) of such Emgold Shares having already been issued to
the Company as of this date. Chimata will reduce the original exploration expenditure
requirements under the Option Agreement for the Property from CDN$750,000 to CDN$300,000.
With exploration work expected to be completed on the Property in 2018, Emgold expects to
satisfy 100% of such exploration requirements under the Amending Agreement, allowing Emgold
to subsequently move forward with the acquisition of the Property by making the remaining share
payments outlined in the Amending Agreement at the timing of Emgold’s choice, ensuring such
issuance do not create, at any given time, a new control person under TSX Venture Exchange
rules.
Alain Moreau, a “qualified person” as defined by NI 43-101 – Standards of Disclosure for Mineral
Projects has approved the scientific and technical disclosure in this press release.
ON BEHALF OF THE BOARD
Richard Groome
Chairman and Interim President & CEO
Further information regarding the Company can be found on SEDAR at www.SEDAR.com, or by
contacting the Company directly at (604) 674-3145.
This news release may contain forward–looking statements. Forward-looking statements address
future events and conditions and therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such statements. Particular risks
applicable to this press release include risks associated with planned production, including the
ability of the company to achieve its targeted production outline due to regulatory, technical or
economic factors. In addition, there are risks associated with estimates of resources, and there is
no guarantee that a resource will have demonstrated economic viability as necessary to be
classified as a reserve. There is no guarantee that additional exploration work will result in
significant increases to resource estimates
202 – 905 West Broadway, Vancouver, BC V5Z 4M3
TSX.V – CAT
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is
defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy
or accuracy of this release. We seek safe harbour.