Nevada King Completes Re-Acquisition of Earn-In Right on Iron Point
Nevada King Completes Re-Acquisition of
Earn-In Right on Iron Point
VANCOUVER, BC
,
Sept. 8, 2021
/CNW/ -
Nevada King Gold Corp.
(TSXV: NKG) ("
Nevada King
"
or the "
Company
") is pleased to announce that, further to its news release dated
May 10, 2021
, it
has completed the re-purchase of its precious metal rights under the Earn-in Agreement dated
May
16, 2019
, on the Iron Point Project's
Carlin
-type gold targets from Ethos Gold Corp. ("
TSX-V: ECC
")
("
Ethos
") in exchange for 6.5 million common shares of
Nevada King
(the "
Transaction
").
As further described in the Company's news release dated
May 10, 2021
, on that date,
Nevada King
and Ethos signed a termination and release agreement with respect to the Transaction. On
September 7, 2021
,
Nevada King
and Ethos received the final TSX-V approvals required for the
Transaction, which was completed. No finder's fees, bonuses or commissions were paid in
connection with the Transaction.
Highlights:
Nevada King
has re-aquired 100% control of the precious metal rights (gold and silver) at Iron
Point from earn-in partner Ethos in exchange for issuing Ethos 6,500,000 common shares of
NKG.
The 6.5 million common shares issued by
Nevada King
will be subject to a voluntary 12-month
lockup by Ethos.
To date, Ethos has spent over
C$2.2M
on advancing the Iron Point gold target. In 2019, Ethos
completed five deep holes at Iron Point. These holes encountered lower plate stratigraphy with
anomalous gold mineralization.
Nevada King
is excited by the potential for discovery of
Carlin
-type gold mineralization in the
lower plate at Iron Point and is making plans to advance the project further, including drilling a
minimum of 5,000 meters in 2021.
About Nevada King Gold Corp.
Nevada King
is the fourth largest mineral claim holder in the
State of Nevada
, and the fastest
growing mineral claim holder in
the United States
.
Nevada King
owns a 100% interest in the Atlanta
Mine, located 100km southeast of
Ely, Nevada
, and the Iron Point Vanadium Project, located 35km
east of
Winnemucca, Nevada
. The Atlanta Mine is a historical gold-silver producer. The Iron Point
Vanadium Project is located within a few miles of Interstate 80, has high voltage electric power lines
running through the project area and a railroad line passing across the northern property boundary.
Nevada King
is well financed to advance the Iron Point Vanadium Project through resource
estimation and initial feasibility study work.
Nevada King
has a proven capital markets and mining
team led by Executive Chairman
Paul Matysek
.
Please see the Company's website at
www.nevadaking.ca
.
Cautionary Statements Regarding Forward Looking Information
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.
This news release contains certain "forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the meaning of applicable securities legislation. All
statements, other than statements of historical fact, included herein, without limitation, statements
relating the future operations and activities of
Nevada King
, are forward-looking statements.
Forward-looking statements are frequently, but not always, identified by words such as "expects",
"anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or
statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved.
Forward-looking statements in this news release relate to, among other things, the Company's
exploration plans and the Company's ability to potentially expand mineral resources and the impact
thereon. There can be no assurance that such statements will prove to be accurate, and actual
results and future events could differ materially from those anticipated in such statements. Forward-
looking statements reflect the beliefs, opinions and projections on the date the statements are made
and are based upon a number of assumptions and estimates that, while considered reasonable by
Nevada King
, are inherently subject to significant business, economic, competitive, political and
social uncertainties and contingencies. Many factors, both known and unknown, could cause actual
results, performance or achievements to be materially different from the results, performance or
achievements that are or may be expressed or implied by such forward-looking statements and the
parties have made assumptions and estimates based on or related to many of these factors. Such
factors include, without limitation, the ability to complete proposed exploration work given the global
COVID-19 pandemic, the results of exploration, continued availability of capital, and changes in
general economic, market and business conditions. Readers should not place undue reliance on the
forward-looking statements and information contained in this news release concerning these items.
Nevada King
does not assume any obligation to update the forward-looking statements of beliefs,
opinions, projections, or other factors, should they change, except as required by applicable
securities laws.
SOURCE
Nevada King Gold Corp.
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For further information:
contact Collin Kettell at [email protected] or (301) 744-8744
CO: Nevada King Gold Corp.
CNW 17:00e 08-SEP-21