Prosper Gold Enters into Definitive Agreement to Option Star Project to CAVU Mining
May 16th, 2022 TSXV: PGX
NEWS RELEASE
Prosper Gold Enters into Definitive Agreement to Option Star Project to
CAVU Mining
Vancouver, British Columbia – May 16th, 20 22 – Prosper Gold Corp. (" Prosper" or the " Company")
(TSXV:PGX) is pleased to announce that it has entered into a definitive option agreement (the “ Option
Agreement”) with CAVU Mining Corp. (“ CAVU”) (CNSX: CAVU), a company incorporated under the
laws of British Columbia, to grant CAVU the exclusive right and option to acquire Prosper’s 51% interest
(the “Option”) in the Star Project located in the province of British Columbia (the “Transaction”).
Under the terms of the Option Agreement, CAVU may exercise the Option by (i) issu ing 1,250,000
common shares in the capital CAVU to Prosper on or before May 23rd, 2022, and (ii) making aggregate
cash payments of $1,155,000 to Prosper as follows:
• $100,000 on or before May 23, 2022; and
• $285,000 on or before July 1, 2022; and
• $385,000 on or before May 23, 2023; and
• $385,000 on or before May 23, 2024.
Should CAVU not exercise the Option in full, Prosper will have a 30-day period from the termination date
of the Option to purchase CAVU’s 49% interest in the Star Project (the “Minority Interest”) for a lump
sum cash payment of $500,000 subject to the terms of the Option Agreement.
For a detailed overview of Prosper please visit www.ProsperGoldCorp.com
ON BEHALF OF THE BOARD OF DIRECTORS
Per: “Peter Bernier”
Peter Bernier
President & CEO
For further information, please contact:
Peter Bernier
President & CEO
Prosper Gold Corp.
Cell: (250) 316-6644
Email: [email protected]
Unless otherwise specified, all dollar amounts used herein refer to the law currency of Canada.
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Certain information in this news release constitutes forward-looking statements under applicable securities law.
Any statements that are contained in this news release that are not statements of historical fact may be deemed
to be forward -looking statements. Forw ard-looking statements are often identified by terms such as “may”,
“should”, “anticipate”, “expect”, “intend” and similar expressions. Forward-looking statements in this news
release include, but are not limited to, statements with respect to the exercise of the Option. Forward-looking
statements necessarily involve known and unknown risks, including, without limitation, the Company’s ability
to implement its business strategies; risks associated with mineral exploration and production; risks associated
with general economic conditions; adverse industry events; marketing and transportation costs; loss of markets;
volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or
inability to access sufficient c apital on favourable terms; industry and government regulation; changes in
legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other
risks. Readers are cautioned that the foregoing list is not exhaustive.
Readers are further 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 placed will occur. Such information,
although considered reasonable by management at the time of preparation, may prove to be incorrect and actual
results may differ materially from those anticipated. Forward-looking statements contained in this news release
are expressly qualified by this cautionary statement.
The forward-looking statements contained in this news release represent the expectations of the Company as of
the date of this news release, and, accordingly, are subject to change after such date. The Company does not
undertake any obligation to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly required by applicable securities law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of t he TSX-V)
accepts responsibility for the adequacy or accuracy of this release.