KAPA GOLD Issues Shares Pursuant to Mastodon Option Agreement
Kapa Gold Inc.
Suite 1400 – 1199 West Hastings Street
Vancouver, BC, V6E 3T5
Tel: 604-961-9442 | [email protected]
www.kapagold.com
KAPA GOLD ISSUES SHARES PURSUANT TO MASTODON OPTION AGREEMENT
VANCOUVER, BC – April 13, 2023 – KAPA GOLD INC . ( TSXV:KAPA) (“Kapa” or the “ Company”) is
pleased to announce that, further to the Company’s press releases’ dated March 6 and February 21,
2023, where Kapa announced the terms of its Option Agreement (the “Option Agreement”) with Guy
Delorme (“Delorme”) to earn a 100% interest in the Mastadon Nickel Project (the “ Mastadon
Project”), the Company has now made the initial payment of $25,000 and issued 50,000 shares to
Delorme following TSXV acceptance of the Option Agreement.
The Company also wishes to provide additional details on the Net Smelter Royalty (“NSR”) portion on
the Option Agreement to acquire a 100% interest in the Mastodon Project a large, historic nickel
project located in Southern BC.
As previously announced, there is a 3% NSR payable equally between two parties, with 1.5% payable
to Delorme and the other 1.5% payable to Carlium Developments Inc . upon commencement of
commercial production . Additionally, an advance royalty payment of $25,000 to each party
commences after the 7th year option payment upon which Kapa will have acquired a 100% interest in
the Mastadon Project subject to the NSR. The Company then has two options to acquire portions of
the NSR. The first is a right to acquire 0.5% from each party at any time for $1 million each. Kapa also
has an additional right to acquire a further 0.5% from each party for $1.5 million within 12 months of
commercial production. In addition, the Company previously announced that it shall make property
payments to Delorme in the amount of 10% of e xploration expenditures up to a cap of $1,000,000,
however, this cap should have been $975,000.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and
approved by Dr. Allan Miller, PhD., P.Geo. , Consultant and Senior Geologist of Kapa Gold Inc, a
“Qualified Person ” as defined in National Instrument 43 -101 Standards of Disclosure for Mineral
Projects.
About Kapa
Kapa Gold, led by experienced capital markets and geologic team, is focused on exploring its 100%
owned historic Blackhawk Gold Mine and surrounding underexplored properties for economic
mineralization. Kapa Gold has recently optioned the historic Mastodon Project and is compiling
historical data in advance of recommendations for exploration programs.
To learn more, visit www.kapagold.com
On behalf of the Board of Directors
KAPA GOLD INC.
“David K. Paxton”
CEO and Director
For More Information Contact:
Konstantine Tsakumis
604-961-9442
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies o f the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward Looking Information
Certain statements made, and information contained herein may constitute "forward looking
information" and "forward looking statements" within the meaning of applicable Canadian
and United States securities legislation. These statements and information are based on facts
currently available to the Company and there is no assurance that actual results will meet
management's expectations. Forward-looking statements and information may be identified by such
terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "could" or
"would". Forward-looking statements and information contained herein are based on certain factors
and assumptions. While the Company considers its assumptions to be reasonable as of the date
hereof, forward-looking statements and information are not guaranteeing of future performance and
readers should not place undue importance on such statements as actual events and results may differ
materially from those described herein. The Company does not undertake to update any forward -
looking statements or information except as may be required by applicable securities laws.