North PEAK and Minex Amend Black Horse Property Option Agreement; Property Reverts to Minex and Portion of Initial Payment Returned
NORTH PEAK AND MINEX AMEND BLACK
HORSE PROPERTY OPTION AGREEMENT;
PROPERTY REVERTS TO MINEX AND
PORTION OF INITIAL PAYMENT RETURNED
www.northpeakresources.com
TSX Venture: NP
Calgary, AB
,
Sept. 1, 2022
/CNW/ -
North Peak Resources Ltd.
(TSXV: NPR) (the "
Company
" or
"
North Peak
") announces that it has mutually agreed with Minex LLC to amend the Option
Agreement for the Black Horse Property such that control of the
Nevada
gold property reverts to
Minex and
US$500,000
and 1,250,000 common shares from the initial option payment (see news
release -
December 6
th
, 2021) is being returned to the Company, who will now forego all option
rights over the Black Horse Property.
"The opportunity to work with Minex and its founder
Gary Grauberger
on the Black Horse project in
Nevada
was a great learning opportunity and both parties coordinated on the work programs this
spring," said
Brian Hinchcliffe
, North Peak CEO. "We wish Minex success going forward and hope
the core drilling and other exploration activity carried out will be of benefit. While the Company's
property search focus has been almost exclusively
Nevada
recently, challenges experienced these
past months - including costs and productivity – will result in a geographically expanded search."
The amendment to the aforementioned Option Agreement (originally signed December 6, 2021) is
effective
August 31
, 2022. As part of this transaction, the Company is responsible for and has
agreed to complete reclamation on the Black Horse Property resulting from its recent drilling and
exploration program, for which a bond of
US$21,899
is on deposit with the Bureau of Land
Management.
About North Peak
The Company is a Canadian based gold exploration and development company that is listed on the
TSX Venture Exchange under the symbol "NPR". The company is focused on acquiring historic sites,
with low cost producing gold and other metals properties, with near term production potential and 8+
year mine life in the northern hemisphere.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
:
This news release includes certain "forward-looking statements" under applicable Canadian
securities legislation. Forward-looking statements include, but are not limited to,
the complete the
transaction referenced herein, and statements regarding the plans, intentions, beliefs, and current
expectations of the Company with respect to the future business activities and operating
performance of the Company that may be described herein
. Forward-looking statements consist of
statements that are not purely historical, including any statements regarding beliefs, plans,
expectations or intentions regarding the future. Such information can generally be identified by the
use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend",
"believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to
place undue reliance on forward-looking statements, as there can be no assurance that the plans,
intentions or expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown
risks and uncertainties, both general and specific, that contribute to the possibility that the
predictions, estimates, forecasts, projections and other forward-looking statements will not occur.
These assumptions, risks and uncertainties include, among other things, the state of the economy
in general and capital markets in particular,
accuracy of assay results, geological interpretations
from drilling results, timing and amount of capital expenditures; performance of available
laboratory and other related services, future operating costs, and the historical basis for current
estimates of potential quantities and grades of target zones,
as well as those risk factors discussed
or referred to in the Company's Management's Discussion and Analysis for the year ended
December 31, 2021
, and the period ended
June 30, 2022
available at
www.sedar.com
, many of
which are beyond the control of the Company. Forward-looking statements contained in this press
release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this
press release. Except as required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. Additionally, the Company undertakes no obligation to
comment on the expectations of, or statements made by, third parties in respect of the matters
discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
SOURCE
North Peak Resources Ltd.
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http://www.newswire.ca/en/releases/archive/September2022/01/c2048.html
%SEDAR: 00032415E
For further information:
Brian Hinchcliffe, CEO, Phone: +1-647-424-2305, Email:
[email protected]; Chelsea Hayes, Director, Phone: +1-647-424-2305, Email:
CO: North Peak Resources Ltd.
CNW 09:00e 01-SEP-22