Stratabound Minerals Announces Closing of Acquisition of Option on Golden Culvert Yukon Project
Stratabound Minerals Announces Closing of Acquisition of Option on Golden
Culvert Yukon Project
CALGARY, Alberta, Dec. 18, 2017 -- Stratabound Minerals Corp. (TSX-V:SB) (“Stratabound” or “the Company”) is pleased to
announce that it has closed the acquisition of the option on the Golden Culvert Gold Project located in the Upper Hyland
Valley in the southeastern Yukon Territory from South Shore Partnership Inc.
In closing the transaction, the Company issued 12,000,000 common shares and 6,000,000 common share purchase warrants
(each warrant is exercisable for one common share at $0.075 for 24 months from the date of issue) to the South Shore team
and made a cash payment of $100,000. Another cash payment of $100,000 will be due four months following the closing date.
Exercise of the option will require payments of $1,595,000 and work commitments of $700,000 over a five-year period. Future
production from the properties will be subject to net smelter return royalties aggregating to 2.5% payable to the optionors and
South Shore.
R. Kim Tyler, President and CEO of Stratabound, commented, “The Company is extremely pleased to have concluded the
Golden Culvert Option Acquisition Agreement and considers itself extremely fortunate to be in the position to ultimately
acquire 100% of such a high quality gold project located in the developing Hyland gold district in the southeastern Yukon
Territory. We look forward with much anticipation to further advancing exploration there in the coming 2018 field season. The
10 year, Class 3 Exploration Permit, already in place, will allow us to upgrade the existing 2.5 km trail to the Main Discovery
Vein so that we may also facilitate trenching, geological mapping and preparing for a diamond drill program before the end of
the 2018 season. To facilitate exploration on the flanking Little Hyland claim groups, where the main 3 km gold-in-soil anomaly
extends open in both directions, we will also be applying for a Class 1 Exploration Permit to complete soil geochemistry,
prospecting and mapping. The Company will be working towards completing a $1,000,000 financing in the near future to
finance its exploration activities.”
About the Golden Culvert Property
Golden Culvert covers 83.8 square kilometres across a 24 kilometre strike located approximately 20 kilometres northeast of
and parallel to Golden Predator Mining Corp.’s 3 Aces property. Work filed in Yukon mineral claims assessment reports has
outlined a northerly trending, 3 kilometre by 250 metre anomaly of +30 ppb Au up to 791 ppb Au, gold-in-soil anomaly that
remains open at both ends. The soil anomaly is centred around partially exposed primary gold-bearing quartz veins and
complimentary gold bearing quartz vein stockwork within a larger silicified, altered, sulphide and gold-bearing wallrock. The
Central Culvert group of claims has a 10-year Class III Land Use Approval from the Yukon Energy, Mines and Resources to
November 16, 2026 that allows for a camp, access roads, trenching, diamond drilling and bulk sampling. The all-season
Nahanni Range Road crosses directly through the middle of the claim group. The Company plans to advance exploration work
in the 2018 field season. For further information, please see the Golden Culvert presentation on the Stratabound web site,
www.stratabound.com.
Stratabound Minerals Corp. is also pleased to announce the closing of the private placement financing of 3,000,000 units (the
“Units”) of the Company, at a price of $0.05 per Unit, for gross proceeds of $150,000. Each Unit consists of one common
share and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable for
one common share at $0.075 for 24 months from the date of issue. The private placement was fully subscribed by the
Company’s largest shareholder, William Bell (Bellport Resources Ltd.). The Company did not pay any finder’s fee in respect of
the private placement. All securities issued under the private placement are subject to a four-month hold period.
For further information contact:
R. Kim Tyler, President and CEO
416-915-4157
www.stratabound.com
Neither the 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.
WARNING: the Company relies upon litigation protection for “forward looking” statements. The information in this release may
contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the
forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate
assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated
operational or technical difficulties, changes in laws or regulations, failure to obtain regulatory, exchange or shareholder
approval, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the
financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this
forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information
after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as
may be required under applicable securities laws.