Roscan Enters into an LOI to Acquire a Second GOLD Property IN Mali
RosCan Minerals Corporation News Release March 2, 2018
1
RosCan Minerals Corporation
365 Bay Street, Suite 400
Toronto, Ontario, M5H 2V1
NEWS RELEASE
ROSCAN ENTERS INTO AN LOI TO ACQUIRE A SECOND GOLD PROPERTY IN MALI
Toronto, March 2, 2018 – RosCan Minerals Corporation (“RosCan” or the “Company”) (TSX-V: ROS) is pleased to announce
that RosCan has entered into a Letter of Intent (“LOI”) with Touba Mining SARL (“Touba”) to acquire a 100% interest in the
27 sq. km. Kandiole-West permit (the “Property”), a very prospective gold exploration property. Previously, on January 18,
2018, RosCan announced that it had entered into an LOI with Touba to acquire the contiguous 56 sq. km. Kandiole-North
permit. The Company expects to complete definitive agreements for each of these permits in the coming weeks.
The acquisition of these two permits will underpin RosCan‘s initiative of assembling a sizeable contiguous land package in the
prolific gold prospective Birimian rocks of west Mali. These permits are located in an area hosting a number of producing gold
mines. In addition, RosCan is currently in negotiations to acquire additional properties in this region and anticipates
completing these transactions in the coming months.
The key terms of the Kandiole-West LOI are summarized below:
Pay permit issuance and registration fees of approximately CAD$25,000 to the applicable Malian governmental
agency.
Pay Touba CAD$75,000, of which $5,000 was paid on signing of the LOI and the balance of $70,000 is to be paid over
a three (3) year period (the “Option Period”) in six instalments as follows:
o 6 month instalment - $5,000
o 12 month instalment - $5,000
o 18 month instalment - $10,000
o 24 month instalment - $10,000
o 30 month instalment - $20,000
o 36 month instalment - $20,000
Touba shall retain a 5% Net Profit Interest and a 2% Net Smelter Return (the “NSR”) upon commencement of
commercial production. RosCan has the right to purchase 50% of the NSR for CAD$1,000,000.
During the Option Period, RosCan shall be responsible for maintaining the Property in good standing and performing
any and all obligations required by law.
COMMENTARY
Greg Isenor, President and CEO of RosCan, stated, “Our team has extensive experience in the area and has identified several
highly prospective permits in this area of interest and we are aggressively negotiating agreements. We have been successful
in these initial stages of assembling a substantial land package. Our plans are to execute a focused field exploration progra m
on this ground between now and the start of the rainy season in June”.
ABOUT ROSCAN
RosCan Minerals Corporation is a Canadian gold exploration company focussed on the acquisition of gold properties in West
Africa. The Company is currently exploring the promising gold potential of the early exploration stage Dormaa Project in
Ghana. RosCan is earning a 50% interest in the Dormaa Project from Pelangio Exploration Inc. (‘Pelangio’) .
For further information, please contact:
Greg Isenor
President and Chief Executive Officer
Tel: (902) 832-5555 or (416) 293-8437
Email: [email protected]
RosCan Minerals Corporation News Release March 2, 2018
2
RosCan Minerals Corporation
365 Bay Street, Suite 400
Toronto, Ontario, M5H 2V1
Forward Looking Statements
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characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or
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governmental approvals, and other risks involved in the mineral exploration and development industry, including those risk s set out in the
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this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all
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