Braveheart Amends Agreement to Repurchase 2% Net Smelter Royalty at Thierry Mine Project
Braveheart Amends Agreement to Repurchase
2% Net Smelter Royalty at Thierry Mine Project
Calgary, Alberta--(Newsfile Corp. - July 29, 2021) - Braveheart Resources Inc.
(TSXV: BHT) (OTCQB:
RIINF) (FSE: 2ZR)
("
Braveheart
" or the "
Company
") announces that it has entered into an amending
agreement with Cadillac Ventures Inc. ("CDC") for the previously announced (see press release dated
January 21, 2021 on SEDAR) purchase of a 2% Net Smelter Royalty ("NSR") on the Thierry Mine
Project.
Under the terms of the amending agreement Braveheart will issue Cadillac an aggregate of
250,000 common shares of Braveheart and make a cash payment of $225,000 to repurchase the entire
2% NSR.
Completion of the NSR repurchase is subject to the approval of the TSX Venture Exchange.
All
securities issued are subject to a statutory hold period that expires four months and one day from
issuance.
The Thierry Mine project is a past-producing copper and nickel mine located approximately 15
kilometres west of Pickle Lake, Ontario, and accessible on a year-round basis by paved and all-weather
roads.
The property is approximately 4,700 hectares in size and contains a National Instrument 43-101
Mineral Resource and a positive Preliminary Economic Assessment ("PEA") (see press release dated
January 14, 2021).
There is a municipal airport, nearby rail system and provincial power grid within eight
kilometres of the mine.
The underground infrastructure includes a three-compartment shaft, production
decline to 520 metres below surface and lateral developments on three levels.
The underground
workings are currently flooded.
About Braveheart Resources Inc.
Braveheart is a Canadian based junior mining company focused on building shareholder value through
exploration and development in favourable Canadian mining jurisdictions at or near past-producing
properties. Braveheart's main asset is the 100% owned Bull River Mine project near Cranbrook, British
Columbia which has a Mineral Resource containing copper, gold and silver. Braveheart's newest
acquisition is the 100% owned Thierry Mine project near Pickle Lake, Ontario which has a Mineral
Resource containing copper, nickel, silver, palladium, platinum and gold. Braveheart also has an option
to purchase the Alpine Gold project near Nelson, British Columbia.
Contact Information
Braveheart Resources Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E:
Website:
www.braveheartresourcesinc.com
For more investor information, please contact Braveheart at:
Manish Grigo
Director, Corporate Development
M: +1-416-569-3292
E:
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under
applicable Canadian securities legislation. Forward-looking information includes, but is not limited to,
statements about strategic plans, future work programs and objectives and expected results from such
work programs. Forward-looking information necessarily involve known and unknown risks, including,
without limitation, risks associated with general economic conditions; inability to access sufficient
capital from internal and external sources, and/or inability to access sufficient capital on favourable
terms; and other risks.
Forward-looking information is necessarily based upon a number of estimates and assumptions that,
while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors
which may cause the actual results and future events to differ materially from those expressed or
implied by such forward-looking information and the risks identified in the Company's continuous
disclosure record. 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 information.
Accordingly, readers should not place undue reliance on forward-looking information. All forward-
looking information contained in this news release is given as of the date hereof and is based upon
the opinions and estimates of management and information available to management as at the date
hereof. The Company disclaims any intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events or otherwise, except as required by
law.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/91599