Delta Resources buys back NSR royalty from the OEC at Delta-1 / Eureka in Thunder Bay, Ontario
Delta Resources buys back NSR royalty from the OEC at Delta-1 /
Eureka in Thunder Bay, Ontario
June 2, 2021 / Kingston, ON / Accesswire . Delta Resources Limited (“Delta” or “the Company”)
(TSX-V:DLTA ) (OTCBB:DTARF ) ( FRANKFURT:6G01 ) is pleased to announce that it has bought back
50% of a Net Smelter Return (“NSR”) royalty held by the Ontario Exploration Corporation (“OEC” ), on its
Delta-1 Property, by making a cash payment of $35,0 00. By doing so, Delta has also secured the
exclusive right to buy back, at anytime, the remaining 50% NSR royalty held by the OEC, for the additional
sum of $50,000. Should Delta elect to purchase the second 50% tranche, it will have purchased the
entire royalty currently held by the OEC. The NRS royalty amounts to 0.5% to 1.0% on key claims of its
Delta-1 Property, which include the Eureka Gold prospect.
The transaction was carried-out under the terms of an agreement announced December 27, 2019 ,
between Delta and the Ontario Exploration Corporation (“OEC” ).
When Delta acquired the Eureka Gold Prospect (Now t he Delta-1 property), the OEC owned between
0.5% and 1.0% NSR royalty on certain claims of the Delta-1 property. More specifically, the OEC owned
a 1.0% NSR on the claims covering the Eureka Gold p rospect, Matawin and Kaspar gold occurrences
and a 0.5% NSR on the claims surrounding the Kaspar occurrence. Should Delta elect to purchase the
second 0.5% NSR, Delta will have purchased the enti re NSR royalty currently held by the OEC on the
Delta-1 property and the Eureka gold occurrence.
“With Delta’s recent exploration success at the Delta-1 property it was very important for us to minimize
the potential royalties payable down the road” says André Tessier, President and CEO of Delta. “Delta
would like to take the opportunity to thank the Ont ario Prospector’s Association and the Ontario
Exploration Corporation for facilitating this transaction”.
About Delta Resources Limited
Delta Resources Limited is a Canadian mineral explo ration company focused on growing shareholder
value through the exploration of two very high-potential gold and base-metal projects in Canada.
• DELTA-1, 45 km 2 located 50km west of Thunder Bay, Ontario where an extremely high gold-in-till
anomaly and kilometre-scale gold-bearing alteration halo point to a never-tested regional structure.
• DELTA-2 GOLD and DELTA-2 VMS, 170 km 2 in the prolific Chibougamau District of Quebec, with a
potential for hydrothermal-gold and gold-rich VMS deposits.
Delta has 35M shares outstanding has a fully funded exploration for 2021 and in addition, is set to receive
$1 M in scaled payments, starting August 1st, 2021, through the sale of its Bellechasse-Timmins gold
project in SE Quebec.
ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.
Andre C. Tessier
President, CEO and Director
www.deltaresources.ca
We seek safe harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The
TSX Venture Exchange has not approved nor disapproved of the information contained herein.
For Further Information:
Delta Resources Limited
Frank Candido, Chairman, VP Corporate Communications
Tel : 514-969-5530
or
Andre Tessier, CEO and President
Tel: 613-328-1581
Cautionary Note Regarding Forward Looking Information
Some statements contained in this news release are "forward looking information" within the meaning of Canadian
securities laws. Forward looking information includes, but is not limited to, statements regarding: th e samples may
be proximal to a rich bedrock source for the gold; the possibility of the same source for gold mineralization; and the
initiation of a property-scale till survey in September. Generally, forward-looking information can be identified by the
use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", " estimates",
"forecasts", "intends", "anticipates", "believes" o r variations of such words and phrases (including n egative or
grammatical variations) or statements that certain actions, events or results "may", "could", "would", "might" or "will
be taken", "occur" or "be achieved" or the negative connotation thereof. Investors are cautioned that forward-looking
information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual facts to
differ materially. There can be no assurance that future developments affecting the Company will be those anticipated
by management. The forward-looking information contained in this press release constitutes management's current
estimates, as of the date of this press release, wi th respect to the matters covered thereby. We expec t that these
estimates will change as new information is received. While we may elect to update these estimates at any time, we
do not undertake to update any estimate at any particular time or in response to any particular event.