Harfang Sells its Kali Project, James Bay (Quebec)
Harfang Sells its Kali Project, James Bay (Quebec)
Montreal, September 9, 2020. Harfang Exploration Inc. (“Harfang”) (TSX-V: HAR) is pleased to
announce the sale (the “Transaction”) of 100% of its right, title and interest in and to the Kali project
(the "Kali Project") to QcX Gold Corp. (“QcX Gold”). The Kali Project consists of 193 mining claims
covering approximately 10,127 hectares, located in the James Bay lowlands area of Quebec.
As a project generator, Harfang is pleased to have entered into an agreement with QcX Gold in respect
of the sale of the Kali Project. The completion of the Transaction will allow Harfang’s technical team
to fully focus on our flagship Serpent gold project and continue advancing its exploration" said François
Goulet, President and Chief Executive Officer of Harfang.
Transaction Terms
The Transaction is being carried out pursuant to the terms of an arm’s-length mining claim acquisition
agreement (the “Agreement”) dated September 6, 2020, between Harfang and QcX Gold. In order to
complete the Transaction and in accordance with the terms of the Agreement, QcX Gold will issue to
Harfang an aggregate of 1,750,000 common shares, and grant in favour of Harfang a 2.5% net smelter
returns royalty, with no buyback option, in respect of the Kali Project.
The Transaction remains subject to receipt of all necessary regulatory and other approvals, including
the approval of the TSX Venture Exchange.
About Harfang
Harfang is a mining exploration company whose primary mission is to discover new gold districts in
the province of Québec. Harfang's development model is based on the generation of new mining
projects and on the establishment of partnerships with major exploratio n and mining companies to
advance its exploration projects.
For further information please contact:
François Goulet
President and Chief Executive Officer
514 940-0670 #339
Neither the 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.