Lido Minerals Acquires the Nimpkish Property
LIDO MINERALS LTD.
NEWS RELEASE
Lido Minerals Acquires the Nimpkish Property
Vancouver, British Columbia / February 28, 2020 – Lido Minerals Ltd. (“Lido” or the “Company”)
is pleased to announce it has entered into a share purchase and sale agreement (the “Agreement”) with the
shareholders of Pacific West Exploration Services Inc., a private British Columbia company (“ Pacific
West”), pursuant to which Lido has acquired the right to earn 100% of the beneficial and legal right , title
and interest in and to the Nimpkish mineral property (the “Property”). Under the Agreement, Lido acquired
all of the issued and outstanding common shares of Pacific West from the Pacific West shareholders in
exchange for the issuance by Lido of an aggregate of 2,000,000 Lido common shares to the Pacific West
shareholders. The issued Lido shares are subject to a four month hold period in accordance with applicable
securities laws.
About the Nimpkish Property
Pacific West, as optionee, is party to an option agreement dated as of May 2 , 2019 (the “ Option
Agreement”) with respect to the Property, under which Pacific West has the exclusive and irrevocable right
to acquire a 100% interest in the Property from the registered owner s of the Property ( collectively, the
“Optionor”). To successfully exercise the option under the Option Agreement, Pacific West is required to
make aggregate cash payments of $30,000 to the Optionor on or before May 1, 2020, and is required to
make aggregate exploration expenditures of $425,000 on the Property on or before December 31, 2023. To
date, Pacific West has made $75,000 in exploration expenditures on the Property and is current in its
obligations under the Option Agreement.
In addition, under the Option Agreement Pacific West has granted to the Optionor a 2.0% net smelter returns
royalty (“NSR”) on the Property. Pacific West has the right to repurchase one-half of the NSR from the
Optionor by paying $1,000 ,000 to the Optionor at any time prior to the commencement of commercial
production on the Property . Beginning on December 31, 2023, and annually thereafter, Pac ific West is
required to make annual advanced minimum royalty payments of $7,500 to the Optionor, and any such
advanced payments shall be deducted from future NSR payments.
About Lido Minerals Ltd.
Lido Minerals Ltd. is a mineral exploration company with an option, through its wholly-owned subsidiary,
to acquire a 100% interest in the Nimpkish mineral property in the Province of British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS
Lucas Birdsall, CFO
778.549.6714
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward -looking information"
within the meaning of applicable securities law. Forward-looking information is frequently characterized
by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar
words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements
are based on the opinions and estimates at the date the statements are made, and are subject to a variety
of risks and uncertainties and other factors that could cause actual events or results to differ materially
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from those anticipated in the forward- looking statements. There are uncertainties inherent in forward -
looking information, includ ing factors beyond the Company’s control. There are no assurances that the
business plans for Lido Minerals Ltd. described in this news release will come into effect on the terms or
time frame described herein. The Company undertakes no obligation to updat e forward -looking
information if circumstances or management's estimates or opinions should change except as required by
law. The reader is cautioned not to place undue reliance on forward -looking statements. Additional
information identifying risks and un certainties that could affect financial results is contained in the
Company’s filings with Canadian securities regulators, which are available at www.sedar.com.