Rjk Options Private Land, Adds an Advisor, Provides Share Payment and Grants Stock Options
P.O. Box 1053, 4 Al Wende Avenue, Kirkland Lake, ON P2N 3L1 Tel: (705) 568-7956
RJK OPTIONS PRIVATE LAND, ADDS AN ADVISOR, PROVIDES SHARE PAYMENT AND
GRANTS STOCK OPTIONS
Kirkland Lake, Ontario – October 2, 2024 – RJK Explorations Ltd. (“RJK” or the "Company”)
(TSX.V: RJX.A) is pleased to announce that it has signed an option agreement with an arms -
length family to explore their patented claims in Bucke Township, located in the Temiskaming
region of Northern Ontario. The Company will drill-test a target located on this land in the coming
weeks.
In early 2023, RJK, along with its advisors and consultants, compiled information from the Ontario
Geological Survey (OGS) till sampling surveys, the Ontario Government’s MLAS database, the
Company’s RC (Reverse Circulation) drill holes/till sampling database, and regional airborne and
drone magnetic surveys to identify a potential kimberlite target in Bucke Township. The
geochemical till data includes two historic RC holes, with one of the holes containing over 12,000
KIMs (kimberlite indicator minerals) located 600 meters down-ice from the anomaly. Contouring
the sample results, using local glacial striation measurements, outlined a discrete dispersion train
with KIM indicator minerals that are unique from any known kimberlites in the Temiskaming
region. This data compilation pointed to a specific magnetic target on patented land in Bucke
Township, which has been owned by a family for approximately 90 years.
RJK will make a cash payment totaling $20,000 to the five family members for the right to drill -
test the target with up to four diamond drill holes. Should RJK wish to proceed with further
exploration, RJK will enter into a prearranged and approved option agreement, subject to TSX.V
approval. This agreement includes a payment of $10,000 and 100,000 shares within six months
of the signed option agreement. One year from that date, a payment of $15,000 and 200,000
shares will be made, followed by a payment of $25,000 and 300,000 shares in year two, and a
final cash payment of $50,000 in year three. RJK has the right to accelerate the payment schedule
at any time. Upon completion of these payments, RJK will have earned a 100% interest in the
mineral rights.
RJK will also grant royalties on the patents, comprising a 2% GORR (Gross Overriding Royalty
Rate) concerning diamonds and a 2% NSR (Net Smelter Return) concerning precious or base
metals. One-half of the GORR and/or NSR (1%) can be repurchased from the ve ndors for a
payment of $500,000, with a further 0.5% repurchased for an additional payment of $1,000,000.
Additionally, the surface rights may be purchased at a rate of $10,000 per acre, or five times the
appraised value of similar lands within the area, whichever is greater.
Should the property enter commercial production or RJK undergo a takeover, the vendors will be
entitled to an additional 1,000,000 shares of RJK.
RJK would also like to welcome Alan Kon to the Board of Advisors. Alan is a graduate of the
Haileybury School of Mines and has spent the past 24 years prospecting the Cobalt Silver Mining
Camp, acquiring claims, and providing contracting services to compan ies conducting mineral
exploration in the Temiskaming Region. Alan’s contacts in the region and his extensive database
helped RJK identify the potential kimberlite target described in this news release.
In a separate matter, RJK, subject to TSX.V approval, will issue 300,000 shares of RJK to Great
Lakes Nickel for the use of an excavator.
In the last 12 months, 4,450,000 company options expired. RJK will be granting 4,000,000 stock
options at $0.05 to officers, directors, advisors, and consultants of RJK.
Contact Information
Glenn Kasner, CEO
Mobile: (705) 568-7567
Email: [email protected]
Web Site: https://www.rjkexplorations.com
Company Information: Tel: (705) 568-7445
Neither the 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 Information
This news release includes certain forward -looking statements, which may include, but are not
limited to, statements concerning the Offering generally, the proposed use of the proceeds, and
the TSXV’s final approval of the Offering. Any statements contained herein that are not statements
of historical facts may be deemed to be forward -looking, including those identified by the
expressions "will", "anticipate" , "believe", "plan", "estimate", "expect", "intend", "propose" and
similar expressions. With respect to forward-looking statements and information contained herein,
we have made numerous assumptions, including assumptions about the receipt of final
acceptance by the TSX Venture Exchange and the state of the equity markets. Forward -looking
statements involve known and unknown risks and uncertainties that could cause actual results,
performance, or achievements to differ materially from those expressed or imp lied in this news
release. Factors that could cause actual results to differ materially from those anticipated in this
news release include, but are not limited to, the Company’s failure to receive final approval from
the TSXV in connection with the Offeri ng. RJK assumes no obligation to update the forward -
looking statements or to update the reasons why actual results could differ from those reflected
in the forward-looking statements except as required by applicable law.