Infield Minerals Issues Shares FOR Kings Canyon GOLD Property Option Payment
1 | Infield Minerals Corp.
515 – 701 West Georgia Street
Vancouver, BC V7Y 1C6
INFIELD MINERALS ISSUES SHARES FOR KINGS CANYON GOLD PROPERTY OPTION
PAYMENT
December 30, 2024 – Vancouver, BC, Canada. Infield Minerals Corp. (TSX-V: INFD) (“Infield” or the
“Company”) further to its press release dated December 23, 2024, is pleased to announce that it has
issued 4,196,109 common shares of the Company at a deemed price of $0.035747 per share to Geomark
Minerals USA Inc. (“ Geomark”) in connection with the second option payment due under the option
agreement (the “Kings Canyon Option Agreement”) relating to the Company’s Kings Canyon Property in
the state of Utah, USA (the “Property”). The common shares are subject to a statutory hold period expiring
April 28, 2025.
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 (paid); $300,000 on or before December
24, 2024, one-half of which was paid in common shares of Infield (paid); $300,000 on or before December
24, 2025, one-half of which may be paid in common shares of Infield1, at its sole option; and $300,000 on
or before December 24, 2026, one-half of which may be paid in common shares of Infield 1, at its sole
option.
Following exercise of the Option and transfer of the Property to the Company, Infield shall make the
following payments to Geomark if the following events occur; $1,000,000 upon filing of a 43-101 Technical
Report describing 400,000 ounces or more of Mineral Product2 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.
A copy of the 43-101 Technical Report 3 regarding the Kings Canyon Property (as defined below) is
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
1 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.
2 Valuable rock, minerals, precious metals, ore and other valuable substances extracted from the Property.
3 Means a technical report, as such term is defined in National Instrument 43-101 Standards of Disclosure for
Mineral Projects.
2 | Infield Minerals Corp.
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 always, 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.