Ramp Metals Announces Sale of Railroad Valley Project to Canter Resources and Provides Exploration Update
Ramp Metals Announces Sale of Railroad
Valley Project to Canter Resources and
Provides Exploration Update
Vancouver, British Columbia--(Newsfile Corp. - September 12, 2024) - Ramp Metals Inc. (TSXV:
RAMP) ("
Ramp Metals
" or the "
Company
") is pleased to announce the proposed sale of the
Company's Railroad Valley Project located in Nye County, Nevada, to Canter Resources Corp. (CSE:
CRC) ("
Canter
").
On September 11, 2024, Ramp Metals USA Inc, a wholly owned subsidiary of Ramp Metals ("
Ramp
USA
"), entered into a claims acquisition agreement with Canter and an indirect wholly owned subsidiary
of Canter pursuant to which Ramp USA agreed to sell its 100% interest in 50 unpatented association
placer claims to Canter's subsidiary in exchange for (i) 300,000 common shares of Canter at a deemed
price of $0.13 share and (ii) the reimbursement of certain claim maintenance fees recently paid by
Ramp USA.
The Canter entities are responsible for paying any fees associated with the transfer of the claims and
Ramp USA will retain a 0.5% net smelter returns royalty on the claims. Canter's subsidiary has the ability
to repurchase the royalty for a one-time payment of $500,000 to Ramp USA.
The transaction remains subject to regulatory approval with a targeted closing date of September 19,
2024.
Field Exploration Update
The Company is currently planning a 14-day mapping and sampling program that will focus on the
Ranger target where
73.55 g/t Au over 7.5m
was discovered at its Rottenstone SW Project. Ramp
Metals has contracted Axiom Exploration Group, located in Saskatoon, to assist with the field
exploration. Three teams will be in the field mapping the area around the Ranger discovery hole and
along regional strike. The goal of the mapping and sampling program is to gather information on the
surface geology to better understand the mineralization and refine priority targets for the upcoming drill
program.
Qualified Person
Brett Williams, P.Geo., VP Operations and Senior Geologist for Ramp Metals, and a "qualified person"
under National Instrument 43-101
Standards of Disclosure for Mineral Projects
, has reviewed and
approved the technical content in this news release.
About Ramp Metals Inc.
Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold
district. The Company currently has new high-grade gold discovery of 73.55 g/t Au over 7.5m at its
flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is
situated in the Rottenstone Domain.
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.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of applicable securities
laws. All statements contained herein that are not clearly historical in nature may constitute forward-
looking statements. Generally, such forward-looking information or forward-looking statements can be
identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or may contain statements that certain
actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or
"will be achieved". The forward-looking information and forward-looking statements contained herein
include, but are not limited to, statements regarding the Company's exploration activities.
These statements involve known and unknown risks, uncertainties and other factors, which may cause
actual results, performance or achievements to differ materially from those expressed or implied by such
statements, including but not limited to: requirements for additional capital; future prices of minerals;
changes in general economic conditions; changes in the financial markets and in the demand and
market price for commodities; other risks of the mining industry; the inability to obtain any necessary
governmental and regulatory approvals; changes in laws, regulations and policies affecting mining
operations; hedging practices; and currency fluctuations.
Although the Company has attempted to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward-looking statements, there may be other
factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Accordingly, readers should not place undue reliance on any forward-looking statements or information.
No forward-looking statement can be guaranteed. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they are made and the Company does
not undertake any obligation to publicly update or revise any forward-looking statement, whether as a
result of new information, future events, or otherwise.
For further information, please contact:
Ramp Metals Inc.
Jordan Black
Chief Executive Officer
Prit Singh
Director
905 510 7636
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/223150