Romios Receives 4 Million Shares of Enduro Metals Pursuant to Newmont Lake Option Agreement
Romios Receives 4 Million Shares of Enduro
Metals Pursuant to Newmont Lake Option
Agreement
Toronto, Ontario--(Newsfile Corp. - December 1, 2021) -
Romios Gold Resources Inc. (TSXV: RG)
(OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company")
is pleased to report that it has
received the final tranche of 4 million shares of Enduro Metals Corporation, (TSXV: ENDR) ("Enduro")
pursuant to the option agreement to acquire 100% of the Newmont Lake Project in northwestern British
Columbia. (
See News Release - Dec. 4, 2018
)
Agreement Highlights:
The original Option Agreement included $2,000,000 CAD in cash payments, the issuance of
12,000,000 Enduro shares and making $8,000,000 CAD in Expenditures on the Newmont Lake
Project.
Previously, Enduro had issued 8 million shares and $1 million in payments.
In addition to today's issuance of 4 million Enduro shares, in order to exercise its 100% option
interest, Enduro is required to make a final $1 million CAD payment by February 22, 2022.
Romios will retain a 2% NSR on the property with a 5 km area of interest of which Enduro may
reduce to 1% (
within 2 years after the earn-in date
) for a total of $4 million CAD.
In the event that one or more NI 43-101 compliant resource estimates which collectively exceed
1,000,000 ounces of gold equivalent resources (being the sum of indicated and inferred) are
issued, Enduro will issue 2,000,000 shares to Romios.
And an additional 1,000,000 shares will be
issued to Romios for each full 1,000,000 additional ounces of gold equivalent resources which is
so documented.
About Romios Gold Resources Inc.
Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in
precious- and base-metal exploration, focused primarily on gold, copper and silver. It has a 100%
interest in the Lundmark-Akow Lake gold-copper property in northwestern Ontario and extensive claim
holdings covering several significant porphyry copper-gold prospects in the "Golden Triangle" of British
Columbia. Additional interests include two former producers, the La Corne molybdenum mine property
(Quebec) and a former high-grade gold producer, the Scossa mine property (Nevada). The Company
also retains an ongoing interest in several properties including a 20% carried interest in five claim blocks
in the Thunder Bay silver district of northwestern Ontario and a 2% NSR on the Hislop gold property in
Ontario.
For more information, visit
romios.com
.
This News Release contains forward-looking statements which are typically preceded by, followed by or
include the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar
expressions. Forward-looking statements are not guarantees of future performance as they involve risks,
uncertainties and assumptions. We do not intend and do not assume any obligation to update these
forward-looking statements and shareholders are cautioned not to put undue reliance on such
statements. TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) do not accept responsibility for the adequacy or accuracy of this
release.
For further information, please contact:
Stephen Burega, President - 647-515-3734 or
John Biczok, P. Geo., VP of Exploration - 613-410-7877 or
Frank van de Water, Chief Financial Officer and Director, (tel) 416-221-4124 (fax) 416-218-9772 or
(email)
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/106090