BMEX Gold Receives Exchange Approval for Property Option Agreements
BMEX Gold Receives Exchange Approval for
Property Option Agreements
Vancouver, British Columbia--(Newsfile Corp. - October 5, 2021) - BMEX Gold Inc. (
TSXV: BMEX
)
(
FSE: 8M0
) ("
BMEX
" or the "
Company
") is pleased to announce that further to its news release dated
August 30, 2021, it has received Exchange approval for its amended option agreements for the King Tut
and Dunlop Bay properties.
The remaining staged cash option payments of $300,000 under each
agreement have been replaced with the issuance of 2,000,000 common shares for each agreement, for
an aggregate issuance of 4,000,000 common shares.
The Company has now issued the full 4,000,000
shares and has earned a full 100% interest in each property.
The shares are subject to a four month hold
period expiring on February 2, 2022.
In addition to the cash and share payments under the Dunlop Bay Option Agreement, the Company must
make two milestone payments of $500,000 each, payable in cash or in common shares, at the option of
the Company, the first upon receipt by the Company of an independent technical report confirming the
existing of a mineral resource on the Dunlop Bay Property containing at least 500,000 ounces of gold in
the measured and indicated categories, and the second upon completion and delivery of a positive pre-
feasibility study on the Dunlop Bay Property.
The issuance of any shares on the milestone payments is
subject to the prior approval of the Exchange at the time of issuance.
About BMEX Gold Inc.
BMEX Gold Inc. is a junior Canadian mining exploration company with the primary objective to acquire,
explore, and develop viable gold and base metal projects in the mining-friendly jurisdiction of Quebec,
Canada. BMEX is currently fully focused on earning 100% interest in its two projects, both located in the
prolific Abitibi greenstone belt:
King Tut Project
consists of 120 contiguous claims on 5,206 hectares
Dunlop Bay Project
consists of 76 mineral claims that cover 4,226 hectares
BMEX common shares trade under the symbol "BMEX" on the TSX-V and under the symbol 8M0 on the
Frankfurt Exchange.
For further information please contact:
BMEX Gold Inc.
Dylan Sidoo, Business Development
Tel: 1 (604) 423 4499
Email:
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. No stock exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein.
This news release contains "forward-looking statements" and "forward looking information" (as defined
under applicable securities laws), based on management's best estimates, assumptions, and current
expectations. Such statements include but are not limited to, statements with respect to the plans for
future exploration and development of the King Tut and Dunlop Bay properties and the acquisition of
additional exploration projects.
Generally, these forward-looking statements can be identified by the use
of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts" , "anticipates"
"plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal",
"objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may",
"can", "could" or "should" occur.
These statements should not be read as guarantees of future
performance or results.
Such statements involve known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements to be materially different from those
expressed or implied by such statements, including but not limited to: risks related to the King Tut and
Dunlop Bay projects; risks related to general economic conditions, actual results of current exploration
activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be
refined; fluctuations in prices of metals including gold; increases in market prices of mining
consumables, possible variations in resource estimates, grade or recovery rates; failure of plant,
equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and
limitations on insurance coverage and other risks of the mining industry; delays in the completion of
exploration, development or construction activities, changes in national and local government regulation
of mining operations, tax rules and regulations, and political and economic developments in areas in
which the Company operates. Although the Company has attempted to identify important factors that
could cause actual results to differ materially from those contained in forward-looking statements, there
may be other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. The forward-looking statements and forward
looking information are made as of the date hereof and are qualified in their entirety by this cautionary
statement.
The Company disclaims any obligation to revise or update any such factors or to publicly
announce the result of any revisions to any forward-looking statements or forward looking information
contained herein to reflect future results, events or developments, except as require by law. Accordingly,
readers should not place undue reliance on forward-looking statements and information. Please refer to
the Company's most recent filings under its profile at
www.sedar.com
for further information respecting
the risks affecting the Company and its business.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/98576