Rokmaster Resources and Kootenay Resources Announce Signing of Definitive Option Agreement
1
615-625 Howe Street
Vancouver, British Columbia
V6C 2T6
1125-595 Howe Street
Vancouver, British Columbia
V6C 2T5
Rokmaster Resources and Kootenay Resources
Announce Signing of Definitive Option Agreement
(Vancouver, June 13, 2024 – Rokmaster Resources Corp. (TSXV: RKR) (OTCQB:
RKMSF) (FSE: 1RR1) (“Rokmaster” or “ RKR”) and Kootenay Resources Inc. (TSXV:
KTRI) (“Kootenay Resources” or “KTR”) are pleased to announce that further to their joint
news release dated May 15, 2024, Rokmaster and Kootenay Resources have entered
into a definitive option agreement (the “Option Agreement”) with respect to the road
accessible Fox-Coconut and Mystery Properties, which are both located south of Highway
16 between Prince George and Smithers in west-central British Columbia (collectively,
the “Properties”) (Figure 1).
Terms of the Option Agreement:
For RKR to be granted the option to acquire a 60% interest in the Properties, RKR must:
- Incur $142,000 of exploration work on the Properties prior to September 18, 2024;
- Commencing on the first anniversary date of the Option Agreement, issuing to KTR
500,000 common shares of RKR each year on or before each of the first, second,
third and fourth anniversary dates of the Option Agreement; and
- On or prior to the fourth anniversary date of the Option Agreement, RKR having
completed a total of 10,000 metres of diamond drilling on any or all of the
Properties.
Once Rokmaster has acquired the initial 60% interest, (the “Initial Interest”), KTR would
grant RKR an exclusive option (the “Second Option”) to acquire the remaining 40%
interest in the Properties (the “Second Interest”) by issuing an additional 5,000,000
common shares of RKR to KTR within 60 days of having acquired the Initial Interest.
Upon RKR acquiring the Second Interest, RKR would grant KTR a 1.5% net smelter
returns royalty (the “Royalty”) in respect of the Mystery and Coconut group of mining
claims. The Fox group of mineral claims have an existing underlying 2% net smelter
returns royalty (the “Underlying Royalty”), and KTR has the right to buy back the entirety
of such Underlying Royalty at any time at a price of $500,000 per 0.5% (the “Buy Back
Right”). Should KTR buy back the entirety of such Underlying Royalty within 90 days
2
after the date of the commencement of commercial production on the Fox group of claims,
then RKR would also grant KTR the Royalty on such claims. If KTR does not so exercise
the Buy Back Right, then KTR would transfer it to RKR.
Closing of the transaction is subject to receipt of all requisite regulatory approvals.
For more information please contact
Mr. John Mirko, President & CEO of Rokmaster Resources Corp.,
[email protected], Ph. +1(604)290-4647 or by website: www.rokmaster.com
For shareholder information please contact:
Mike Kordysz, [email protected],Ph. +1(604)319-3171
James McDonald, CEO and President of Kootenay Resources Inc. at +1(403)880-6016
or visit: www.kootenayresources.com
On Behalf of the Board of Directors of
Rokmaster Resources Corp. Kootenay Resources Inc.
John Mirko, James McDonald,
President & Chief Executive Officer President & Chief Executive Officer.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in
defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this press release.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news
release may contain forward-looking information within the meaning of applicable
securities laws (“forward -looking statements”). Forward-looking statements are
statements that are not historical facts and are generally, but not always, identified by the
words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” ‘projects,”
“potential” and similar expressions, or that events or conditions “will,” “would,” “may,”
“could” or “sho uld” occur. These forward-looking statements are subject to a variety of
risks and uncertainties which could cause actual events or results to differ materially from
those reflected in the forward-looking statements, including, without limitation: risks
related to fluctuations in metal prices; uncertainties related to raising sufficient financing
to fund the planned work in a timely manner and on acceptable terms; changes in planned
work resulting from weather, logistical, technical or other factors; the possibility that
results of work will not fulfill expectations and realize the perceived potential of the
Company’s properties; risk of accidents, equipment breakdowns and labour disputes or
other unanticipated difficulties or interruptions; the possibility of cost overruns or
unanticipated expenses in the work program; the risk of environmental contamination or
3
damage resulting from Rokmaster’s or Kootenay Resources operations and other risks
and uncertainties. Any forward- looking statement speaks only as of the date it is made
and, except as may be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement, whether as a result of
new information, future vents or results or otherwise.