Trillium Gold Signs Definitive Agreement for Acquisition of Contiguous Confederation Lake Land Package, Red Lake, Ontario
Trillium Gold Signs Definitive Agreement for Acquisition of Contiguous
Confederation Lake Land Package, Red Lake, Ontario
VANCOUVER, BC
,
Dec. 15, 2021
/CNW/ - Trillium Gold Mines Inc. (TSXV: TGM) (OTCQX: TGLDF) (FRA: 0702) ("Trillium Gold" or the "Company") is pleased to
announce that it has signed a definitive agreement (the "Definitive Agreement"), following the previously announced non-binding Letter of Intent, to acquire all of
Infinite Ore Corp.'s ("Infinite Ore") Eastern Vision property holdings in the Confederation Lake assemblage of the Birch-Uchi greenstone belt in the Red Lake
Mining District, Ontario.
(see news release of
July 19, 2021
.)
The property covers 16,991 hectares between the Fredart,
Garnet Lake
, Confederation North and Confederation South properties (see Figure 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 on trend with Great Bear Resources' Dixie Deposit.
The Definitive Agreement provides for the issuance of 4,000,000 common shares in the capital of Trillium Gold including payment of
$175,000
in cash to Infinite
Ore. In addition, the Company assumes all of Infinite Ore's cash payment commitments under its existing option agreements, while Infinite Ore retains its share
issuance obligations.
The Definitive Agreement is considered a major step in strengthening Trillium Gold's strategic advantage to consolidate the greenstone belt and positions it as the
most dominant exploration company in the Red Lake Mining District.
Visit our website at
www.trilliumgold.com
.
On behalf of the Board of Directors,
Trillium Gold Mines Inc.
Russell Starr
, President, CEO and Director
Trillium Gold Signs Definitive Agreement for Acquisition of Contiguous Confederation Lake Land Package, Red Lake, Ontario (CNW Group/Trillium Gold Mines
Inc.)
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 northwestern
Ontario
. The Company has assembled over 55,000 hectares of lands considered highly prospective for gold, including
the Newman Todd project being advanced towards open-pit mining, and one of the most extensive property packages in the Confederation Lake assemblage of
the Birch-Uchi greenstone belt.
In addition, the Company has interests in highly prospective properties in
Larder Lake, Ontario
and the
Matagami
and Chibougamou areas of
Quebec
.
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.
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 expectation. 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.
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SOURCE
Trillium Gold Mines Inc.
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%SEDAR: 00026380E
For further information:
please contact Donna Yoshimatsu, VP Corporate Development and Investor Relations at [email protected], (416) 722-
2456.
CO: Trillium Gold Mines Inc.
CNW 07:00e 15-DEC-21