Trillium Gold signs Amended Definitive Agreement for the Eastern Vision properties in Confederation Lake
NEWS RELEASE
Trillium Gold signs Amended Definitive Agreement
for the Eastern Vision properties in Confederation Lake
Vancouver, British Columbia, Canada. April 27, 2022 – Trillium Gold Mines Inc. (TSXV:TGM,
OTCQX:TGLDF, FRA:0702) (“Trillium Gold” or the “Company”) is pleased to announce that it has
signed an amended Definitive Agreement (the "Definitive Agreement") to acquire the majority of
Imagine Lithium Inc.’s (formerly Infinite Ore Corp. ) Eastern Vision property holdings in the
Confederation Lake assemblage within the Birch-Uchi greenstone belt in the Red Lake Mining
District of Ontario. (See news releases of July 19, 2021 and December 15, 2021.)
The Definitive Agreement has been amended such that the property now covers 13,958 hectares
between the Fredart, Confederation North and Confederation South properties (see map below),
giving Trillium Gold control over a significant portion of the Confederation Lake assemblage and
creating a contiguous land package covering greater than 100 km of favourable structure s on
trend with Kinross Gold’s Dixie Deposit and Evolution Mining’s Red Lake Operation.
The Definitive Agreement as now amended provides for the issuance of 2,80 0,000 common
shares of Trillium Gold and a cash payment of $175,000 to Imagine Lithium. In addition, the
Company assumes Imagine Lithium’s cash payment commitments under Imagine Lithium’s
existing option agreements, while Imagine Lithium retains its original share issuance obligations.
Concurrent with the closing of the Definitive Agreement, Trillium Gold will pay to Pegasus
Resources Inc. (“Pegasus”) $20,000 in cash, as well as 100,000 common shares in the capital of
Trillium Gold to earn into certain option agreements that Trillium is assuming as optionee from
Imagine Lithium under the Definitive Agreement. The cash consideration represents the
remaining option payments under said option agreements, while the equity consideration
purchases Pegasus’ carried interest in the relevant properties s uch that Trillium Gold will be
transferred 100% of those properties upon closing of the Definitive Agreement.
Pursuant to the remaining option agreements that Trillium Gold is assuming as optionee under
the Definitive Agreement, Trillium Gold must pay a total of $186,000 in option payments over
approximately two years in order to earn in to and exercise the options.
Trillium Gold has also entered into a Royalty Purchase Agreement under which it will, concurrently
with the closing of the Definitive Agreement, purchase a 2.0% NSR royalty on the Fredart property
from prospector Perry English in consideration for the issuance of 60,000 common shares in the
capital of Trillium Gold and $50,000 in cash.
The Definitive Agreement and the transactions contemplated thereunder, including purchasing
Pegasus’ carried interest in properties covered by certain option agreements and entering into
the Royalty Purchase Agreement, remain subject to TSXV approval.
The technical information presented in this news release has been reviewed and approved by
William Paterson QP, P.Geo, Vice President of Exploration of Trillium Gold Mines, as defined by
NI 43-101.
NEWS RELEASE
Map showing Trillium Gold’s current landholdings and the acquired Eastern Vision claims.
For further information, please contact Donna Yoshimatsu, VP Corporate Development and
Investor Relations at [email protected], (416) 722-2456, or [email protected],
604-688-9588.
Visit our website at www.trilliumgold.com.
On behalf of the Board of Directors,
Trillium Gold Mines Inc.
Russell Starr
Interim Chairman, President, CEO
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a growth focused company engaged in the business of acquisition,
exploration and development of mineral properties located in the Red Lake Mining District of
Northern On tario. As part of its regional -scale consolidation strategy, t he Company has
assembled the largest prospective land package in and around the Red Lake mining district in
proximity to major mines and deposits, as well as the Confederation Lake and Birch -Uchi
greenstone belts. Recent examples are the acquisition of the Willis pr operty southwest of and
contiguous to the Newman Todd complex, and a non- binding LOI giving the Company control
over a significant portion of the Confederation Lake Greenstone Belt to more than 100 km in
length. In addition, the Company has interests in highly prospective properties in Larder Lake,
Ontario.
NEWS RELEASE
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary note regarding forward-looking statements
This news release contains forward- looking information, which involves known and unknown risks,
uncertainties and other factors that may cause actual events to differ materially from current expectations.
Forward-looking information is based on management’s reasonable assumptions, estimates, expectations,
analyses and opinions, which are based on management’s experience and perception of trends, current
conditions and expected developments, and other factors that management believes are relevant and
reasonable in the circumstances, but which may prove to be incorrect. Such factors, among others, include:
impacts arising from the global disruption caused by the Covid- 19 coronavirus outbreak, business
integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets;
fluctuations in spot and forward prices of gold or certain other commodities; change in national and local
government, legislation, taxation, controls, regulations and political or economic developments; ris ks and
hazards associated with the business of mineral exploration, development and mining (including
environmental hazards, industrial accidents); inability to obtain adequate insurance to cover risks and
hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations;
relationships with and claims by local communities and indigenous populations; availability of increasing
costs associated with mining inputs and labour; the speculative nature of mineral exploration and
development (including the risks of obtaining necessary licenses, permits and approvals from government
authorities); and title to properties.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only
as of the date of this press release. The Company disclaims any intention or obligation, except to the extent
required by law, to update or revise any forward-looking statements, whether as a result of new information,
future events or otherwise.