Rokmaster Extends Option Payment on Revel Ridge Project
Rokmaster Extends Option Payment on Revel
Ridge Project
VANCOUVER, BC
,
Feb. 2, 2023
/CNW/ - Rokmaster Resources Corp. (TSXV: RKR) (OTCQB:
RKMSF) (FSE: 1RR1) ("Rokmaster" or "the Company") is pleased to announce that it entered into
an amending agreement with Huakan International Mining Inc. ("Huakan") and Huakan's shareholders
to extend the fourth option payment due on
February 25, 2023
by 12 months to
February 25, 2024
,
at which time a penalty of
$400,000
will also be due as consideration for the extension.
Pursuant to the amending agreement, the Company also agreed to complete an updated preliminary
economic assessment and an updated mineral resource estimate on the Revel Ridge Project on or
before
December 31, 2023
and failing which the Company shall pay Huakan the penalty no later than
December 31, 2023
, and such payment will be deductible from the total option payment due on
February 25, 2024
.
On Behalf of the Board of Directors of
Rokmaster Resources Corp.
John Mirko
,
President & Chief Executive Officer.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
press release.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release may
contain forward-looking information within the meaning of applicable securities laws ("forward-
looking statements"). Forward-looking statements are statements that are not historical facts and
are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes,"
"intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions
"will," "would," "may," "could" or "should" occur. These forward-looking statements are subject to a
variety of risks and uncertainties which could cause actual events or results to differ materially from
those reflected in the forward-looking statements, including, without limitation: risks related to
fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned
work in a timely manner and on acceptable terms; changes in planned work resulting from weather,
logistical, technical or other factors; the possibility that results of work will not fulfill expectations and
realize the perceived potential of the Company's properties; risk of accidents, equipment
breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of
cost overruns or unanticipated expenses in the work program; the risk of environmental
contamination or damage resulting from Rokmaster's operations and other risks and uncertainties.
Any forward-looking statement speaks only as of the date it is made and, except as may be
required by applicable securities laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future vents or results or
otherwise.
SOURCE
Rokmaster Resources Corp.
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For further information:
Mr. John Mirko, President & CEO of Rokmaster Resources Corp.,
[email protected], Ph. +1(604) 290-4647 or by website: www.rokmaster.com; For
shareholder information please contact: Mike Kordysz, [email protected], Ph. +1 (604)
319-3171
CO: Rokmaster Resources Corp.
CNW 04:00e 02-FEB-23