P2 Gold Announces Sale of Ball Creek (BAM) Claims
P2 Gold Announces Sale of Ball Creek (BAM)
Claims
VANCOUVER, BC
,
Dec. 5, 2024
/CNW/ -
P2 Gold Inc.
("P2" or the "Company") (TSXV: PGLD)
(OTCQB: PGLDF) reports that it has entered into a
definitive
agreement (the "Agreement")
signed December 4, 2024
to sell (the "Transaction") its Ball Creek Claims (also known as the BAM
Project) to Kingfisher Metals Corp. ("Kingfisher")
an arm's length party,
on (a) payment of
$1 million
,
with
$50,000
due on signing the Agreement and
$950,000
due on the closing of the Transaction; and
(b) issuance of shares of Kingfisher having a value of
$250,000
, with the shares priced at the closing
price of the shares on the TSX Venture Exchange (the "Exchange") immediately prior to an
announcement of the Agreement. The Transaction remains subject to a number of conditions,
including Exchange approval, and Kingfisher completing a private placement of at least
$1 million
.
The closing of the Transaction is anticipated on or about
February 28, 2025
.
No finder's fees are
payable.
The Company plans to use the proceeds from the Transaction for additional metallurgical test work
on its Gabbs Project and the permitting of production water wells at the Gabbs Project. The
Company will provide additional details of its plans as they progress.
About P2 Gold Inc.
P2 Gold is a mineral exploration and development company focused on advancing its gold-copper
Gabbs Project on the Walker Lane Trend in Nevada. A positive preliminary economic assessment
has outlined a long-life, mid-size mine at Gabbs with annual average production of 104,000 ounces
gold and 13,500 tonnes copper over a 14.2-year mine life.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This press release contains "forward-looking information" within the meaning of applicable securities
laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking
information" includes statements that use forward-looking terminology such as "may", "will", "expect",
"anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or
comparable terminology. Such forward-looking information includes, without limitation, information
with respect to the Company's expectations, strategies and plans for its Gabbs Project including the
Company's planned expenditures and exploration activities.
Forward-looking information is not a guarantee of future performance and is based upon a number
of estimates and assumptions of management at the date the statements are made, including
without limitation, that the Exchange will approve the Transaction, Kingfisher will complete a private
placement of
$1 million
and the Transaction will close on or before
February 28, 2025
, as well as the
other assumptions disclosed in this news release. Furthermore, such forward-looking information
involves a variety of known and unknown risks, uncertainties and other factors which may cause the
actual plans, intentions, activities, results, performance or achievements of the Company to be
materially different from any future plans, intentions, activities, results, performance or achievements
expressed or implied by such forward-looking information, including without limitation, failure to
obtain Exchange approval of the Transaction, failure of Kingfisher to complete a private placement of
$1 million
and the Transaction to close on or before
February 28, 2025
, and risks associated with
mineral exploration, including the risk that actual results and timing of exploration and development
will be different from those expected by management. See "Risk Factors" in the Company's annual
information form for the year ended
December 31, 2023
, dated
March 21, 2024
filed on SEDAR at
www.sedar.com
for a discussion of these risks.
The Company cautions that there can be no assurance that forward-looking information will prove to
be accurate, as actual results and future events could differ materially from those anticipated in such
information. Accordingly, investors should not place undue reliance on forward-looking information.
Except as required by law, the Company does not assume any obligation to release publicly any
revisions to forward-looking information contained in this press release to reflect events or
circumstances after the date hereof.
SOURCE
P2 Gold Inc.
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%SEDAR: 00045664E
For further information:
For further information, please contact: Joseph Ovsenek, President &
CEO, (778) 731-1055; Michelle Romero, Executive Vice President, (778) 731-1060; P2 Gold Inc.,
Suite 789, 999 West Hastings Street, Vancouver, BC, V6C 2W2, [email protected], (SEDAR filings:
P2 Gold Inc.)
CO: P2 Gold Inc.
CNW 08:36e 05-DEC-24