Ophir to Acquire Claims from Troilus Gold Corporation in James Bay, Quebec
Ophir to Acquire Claims from Troilus Gold
Corporation in James Bay, Quebec
Vancouver, British Columbia--(Newsfile Corp. - March 7, 2023) -
Ophir Gold Corp.
(TSXV: OPHR)
(OTCQB: KPZIF) (FSE: 80M)
(the "Company" or "Ophir")
is pleased to announce that it has entered
into a purchase and sale agreement dated March 6
th
, 2023 (the "
Agreement
") with Troilus Gold
Corporation (the "
Vendor
") to acquire three (3) mining claims located in James Bay, Quebec (the
"
Claims
"). The three (3) claims are contiguous to the Company's Radis Lithium Property.
The terms of the Agreement provide for the Company to acquire a 100% interest in the Claims in
consideration for the issuance of 225,000 common shares of the Company to the Vendor. In addition,
the Vendor shall retain a 2% Net Smelter Royalty ("
NSR
") on the Claims, while the Company shall have
the option to purchase back three-quarters of the NSR, thereby reducing it to 0.5%, for $1,500,000. The
Vendor is arm's length to the Company. The closing of the transaction is subject to customary conditions,
including the approval of the TSX Venture Exchange.
Ophir also announces that, pursuant to its stock option plan, it has granted an aggregate of 130,000
options to purchase common shares in the capital of the Company to certain directors of the Company,
exercisable at a price of $0.305 per share for a period of five (5) years from the date of grant.
About the Company
Ophir Gold Corp. is a gold exploration company focused on the exploration and development of its
flagship property, the past producing Breccia Gold Property located in Lemhi County, Idaho, as well as
new Radis Property in James Bay, Quebec.
The Company has an option to earn a 100% interest in the Breccia Gold Property over a three-year
period from Canagold Resources Ltd. (formerly Canarc Resource Corp.) and DG Resource
Management Ltd.
The Company also has an option to earn a 100% interest in the Radis Lithium Property over a three-year
period from Eastmain Resources Inc., a wholly owned subsidiary of Fury Gold Mines Limited.
On behalf of the Board of Directors
"Shawn Westcott"
Ophir Gold Corp.
For further information, please contact:
Shawn Westcott, CEO
Phone 1 (604) 365 6681
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Note
The information contained herein contains "forward-looking statements" within the meaning of applicable
securities legislation. Forward-looking statements relate to information that is based on assumptions of
management, forecasts of future results, and estimates of amounts not yet determinable and include
statements in this press release related to the closing of the Agreement to acquire the Claims. Any
statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or
future events or performance are not statements of historical fact and may be "forward-looking
statements." Forward-looking statements are subject to a variety of risks and uncertainties which could
cause actual events or results to differ from those reflected in the forward-looking statements, including,
without limitation: risk related to the failure to obtain adequate financing on a timely basis and on
acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks
associated with mining and exploration; risks related to the maintenance of stock exchange listings;
risks related to environmental regulation and liability; the potential for delays in exploration or
development activities or the completion of feasibility studies; the uncertainty of profitability; risks and
uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral
deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for
unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that
future exploration, development or mining results will not be consistent with the Company's expectations;
risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's
prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one
or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in forward-looking statements. Investors are
cautioned against attributing undue certainty to forward-looking statements. These forward-looking
statements are made as of the date hereof and the Company does not assume any obligation to update
or revise them to reflect new events or circumstances, except in accordance with applicable securities
laws. Actual events or results could differ materially from the Company's expectations or projections.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/157451