Infield Minerals Acquires Option Interest IN the Kings Canyon GOLD Property
1 | Infield Minerals Corp.
1600 – 609 Granville Street
Vancouver, BC V7Y 1C3
INFIELD MINERALS ACQUIRES OPTION INTEREST IN THE KINGS CANYON GOLD
PROPERTY
June 25, 2024 – Vancouver, BC, Canada. Infield Minerals Corp. (TSX-V: INFD) (“Infield” or the
“Company”) is pleased to announce that it has completed the acquisition (the “Acquisition”) of 1468289
B.C. Ltd. (“ BC Co ”), a privately owned company that has, as its sole asset , an option agreement with
Geomark Minerals USA Inc. (“ Geomark”) to acquire an undivided 100% interest in the Kings Canyon
property (the “Property” or “Kings Canyon Property”) in the state of Utah, USA (the “Kings Canyon Option
Agreement”). The Acquisition was previously announced on May 30, 2024.
“Securing the option to acquire the Kings Canyon Property in Utah is a significant achievement that paves
the way for the Company’s future growth. We are pleased to be working in the State of Utah, which was
recently deemed the number one mining jurisdiction in the world for investment attractiveness and policy
perception by Fraser Institute1”, said Evandra Nakano, President and CEO of Infield.
Pursuant to the terms of the Acquisition, the Company acquired 100% of the issued and outstanding
securities of BC Co in consideration of the issuance of an aggregate of 5,422, 896 common shares of the
Company (“Infield Shares”) to former securityholders of BC Co. The Infield Shares issued in connection
with the Acquisition are subject to a statutory hold period expiring October 24, 2024. No finder’s fees
were paid or applicable in connection with the Acquisition.
On closing of the acquisition, BC Co’s name was changed to Kings Canyon Gold Corp.
Pursuant to the terms of the Kings Canyon Option Agreement, in order to earn a 100% undivided interest
in the Property, subject to pre-existing royalties ranging from two to five percent, the Company must pay
to Geomark a total of $1,200,000 over a period of thirty (30) months in accordance with the following
schedule; $300,000 within five days of closing of the Acquisition; $300,000 on or before the date, which
is six months after closing of the Acquisition, one-half of which may be paid in common shares of Infield2,
at its sole option ; $300,000 on or before the date , which is eighteen months after closing of the
Acquisition, one-half of which may be paid in common shares of Infield2, at its sole option; and $300,000
on or before the date which is thir ty (30) months after closing of the Acquisition, one-half of which may
be paid in common shares of Infield2, at its sole option.
Following exercise of the Option and transfer of the Property to BC Co, Infield (through BC Co) shall make
the following payments to Geomark if the following events occur ; $1,000,000 upon filing of a 4 3-101
Technical Report describing 400,000 ounces or more of Mineral Product3 within the Property; and
$2,000,000 upon achievement of aggregate production of no less than 5,000 ounces of Mineral Product
from mining operations on the Property.
1 Fraser Institute 2023 Mining Survey
2 The price of the common shares issuable under all option payments is based on the 30-day volume weighted average
trading price of Infield’s common shares following Infield’s notice to Geomark of its intention to pay in common
shares. If such issue price is less than the price permitted by the TSXV, the issue price shall be adjusted to be the
lowest price per common share permitted by the TSXV.
3 Valuable rock, minerals, precious metals, ore and other valuable substances extracted from the Property.
2 | Infield Minerals Corp.
A copy of the 43-101 Technical Report4 regarding the Kings Canyon Property (as defined below) will be
filed and will be accessible under Infield’s profile on SEDAR (www.sedarplus.ca).
For more information, please contact Evandra Nakano, the CEO, President and a director of the Company,
at +1 (604) 220-4691 or email: [email protected]
On Behalf of the Board of Directors of Infield Minerals Corp.
Evandra Nakano
President, CEO & Director
ABOUT INFIELD
Infield Minerals is currently exploring for gold within the U.S. Great Basin . Our mission is to grow and
deliver value through discovery, acquisitions and sustainable development of high quality, high potential
assets for the social and economic benefits of our stakeholders. Founded in 2020, Infield is led by a team
of mining entrepreneurs with extensive technical and resource evaluation experience.
www.infieldminerals.com
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.
Forward-Looking Statements
Statements included in this announcement, including statements concerning Infield’s plans, intentions and expectations, which
are not historical in nature, are intended to be, and are hereby identified as, “forward‐looking statements”. Forward-looking
statements include, among other matters, Infield’s exploration plans for its mineral exploration properties, including the option
for the Kings Canyon property . Forward‐looking statements may be, but are not al ways, identified by words including
“anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. Infield cautions readers that forward‐looking
statements, including without limitation those relating to Infield’s future operations and business prospects, are subject to certain
risks and uncertainties (including geopolitical risk, regulatory, and exchange rate risk) that could cause actual results to differ
materially from those indicated in the forward‐looking statements. There can be no assurance that any forward-looking statement
will prove to be accurate or that management's assumptions underlying such statements, including assumptions concerning future
developments, circumstances or results, will materialize. The forward-looking statements included in this news release are made
as of the date of this new release and Infield does not undertake to update or revise any forward -looking information included
herein, except in accordance with applicable securities laws.
4 Means a technical report, as such term is defined in National Instrument 43 -101 Standards of Disclosure for
Mineral Projects.