Jayden Receives Approval for Storm Lake Acquisition
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Jayden Receives Approval for Storm Lake Acquisition
Vancouver, B.C., April 9, 20 21; Jayden Resources Inc. (JDN:TSX V) (“Jayden” or the “Company”)
announces that it has received approval from the TSX Venture Exchange (“TSXV”) to acquire a 100%
interest in the Storm Lake Gold Property (the “Property”) located on the Frotet-Evans Greenstone Belt in
central Quebec.
On February 17, 2021, the Company announced that it had entered into a property option agreement
with three arm’s length vendors (the “Optionors”) to acquire a 100% interest in the P roperty by making
cash and share payments to the Optionors totaling $750,000 and 6,600,000 post-consolidation common
shares respectively (see the Company’s news release dated February 10, 2021 for information on the 3
for 1 consolidation).
Under the terms of the agreement , u pon the Company completing the consolidation (the “Effective
Date”), the Company will pay $200,000 and issue 2,200,000 shares to the Optionor s. On the nin e (9)
month anniversary of the Effective Date an additional 2,200,000 shares will be issued. On the fifteen (15)
month anniversary of the Effective Date an additional $300,000 and 2,200,000 shares; and on the thirty
(30) month anniversary of the Effective Date a further $250,000.
Jayden must also incur $3,000,000 in exploration expenditures on the Property over the course of 3 years
by spending not less than $150,000 on or before the 12-month anniversary of the Effective Date; a further
$1,350,000 on or before the 24-month anniversary of the Effective Date; and a further $1,500,000 on or
before the 36-month anniversary of the Effective Date . The Optionor s will retain a 2.5% net smelter
royalty on the Property which may be reduced at any time to 1.5% by paying the Optionors $1,500,000.
Jayden also agreed that should a future independent technical report , prepared in accordance with
National Instrument 43 -101 standards, confirm the existence of a mineral resource on the Property
containing at least 500,000 ounces of gold in the me asured and indicated categories that it will pay the
Optionors a payment of $500,000 in cash, or, at the option of Jayden, in shares at an issue price equal to
the 10-Day Volume-Weighted Average Price (“VWAP”) of the shares prior to the issuance date . Further,
upon completion and delivery of a positive econo mic study (scoping, preliminary economic assessment,
pre-feasibility, feasibility, etc.) on the Property, Jayden will also pay to the Optionor s $500,000, in cash,
or, at the option of Jayden, in shares at an issue price equal to the 10-Day VWAP of the shares prior to the
issuance date. Jayden has the option to accelerate the payments and exploration expenditures to exercise
the option at any time and thereby acquire its interest in the Property earlier.
The Property consists of 48 contiguous claims that cover a gross area of approximately 2,610 hectares and
is located in the middle of the Frotet-Evans Greenstone Belt which also hosts the former Troilus Mine,
which during its mine life produced more than 2.0 million ounces of gold and nearly 70,000 tons of copper
from 1996 to 2010 (Troilus Gold Corporate Presentation – Feb. 2021 – www.troilusgold.com). New
discoveries by Troilus Gold Corp. (TSX:TLG) have them focused on mineral expansion (4.96Moz AuEq
indicated plus 3.15Moz AuEq inferred – Troilus Gold Corporate Presentation – Feb. 2021) and the potential
restart of the former mine.
Technical information in this press release was reviewed by Jeannot Théberge Géo. (OGQ), recognized as
a Qualified Person under the guidelines of National Instrument 43-101.
For further information about this news release or the Company visit our website at
www.jaydenresources.com, email [email protected], or call Mike Thast at 778-331-2093.
On Behalf of the Board:
"David Eaton"
President & CEO
FORWARD LOOKING STATEMENTS: This document includes forward -looking statements as well as
historical information. Forward -looking statements include, but are not limited to, the continued
advancement of the company's general business development, research development and the Company's
development of mineral exploration projects. When used in this document, the words "anticipate",
"believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may
identify forward-looking statements. Jayden Resources Inc. believes that their expectations reflected in
these forward-looking statements are reasonable, such statements involve risks and uncertainties and no
assurance can be given that actual results will be consistent with the se forward -looking statements.
Important factors that could cause actual results to differ from these forward-looking statements include
the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement
corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with
Canadian Securities Regulators
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.