Strikepoint Signs Definitive Agreement to Purchase Idm’S Yukon Portfolio
Suite 507, 837 West Hastings Street Telephone: (604) 602-1440
Vancouver, BC, V6C 3N6 Facsimile: (604) 685-5777 www.strikepointgold.com
STRIKEPOINT SIGNS DEFINITIVE AGREEMENT TO PURCHASE IDM’S YUKON PORTFOLIO
January 19, 2017, Vancouver, BC – StrikePoint Gold (TSX.V:SKP) (“StrikePoint” or the
Company) is pleased to announce that it has entered into a definitive agreement with
IDM Mining Ltd. (TSX.V:IDM) (“IDM”) to purchase a portfolio of properties located in the
Yukon.
“This marks the beginning of a new era for StrikePoint Gold in Canada’s best mining
jurisdiction. With this acquisition of 26 properties, StrikePoint is armed with an
extensive database of rock and soil samples, geophysics, geological mapping and drilling
results totally more than $25 Million. We eagerly await the start of our 2017 exploration
season and look forward to exploring our drill ready targets” Shawn Khunkhun, CEO of
StrikePoint Gold comments.
Terms of the Transaction:
The purchase price for the Properties will be $4,2 00,000 paid as f ollows: $150,000
in cash and 10,500,000 common shares of the Company.
StrikePoint will incur a minimum of $1,500,000 in exploration expenditures on the
Yukon Properties by December 31, 2017.
StrikePoint will appoint two of IDM’s designated representatives to its Board of
Directors at closing.
IDM has been grant ed an Equity Participation Right, allowing IDM to maintain its
Pro-Rata Interest.
IDM has a Right of First Refusal for two years on the sale of any of the Yukon
properties.
The closing of the transaction is subject to various conditions including regulatory
approvals, receipt of third party consents and the Company obtaining shareholder
approval as the transaction will result in the creation of a new control block being held
by IDM. Closing is to occur on or before February 28, 2017.
Yukon Properties
The Yukon portfolio consists of 14,037 claims covering 26 properties in 46 claim groups
totaling 282,000 hectares (the “Properties”). The Properties cover multiple tectonic and
Suite 507, 837 West Hastings Street Telephone: (604) 602-1440
Vancouver, BC, V6C 3N6 Facsimile: (604) 685-5777 www.strikepointgold.com
metallogenic environments as well as a variety of mineral deposit styles common in
Yukon. The Properties were previously held by Ryan Gold Corp. (“Ryan Gold”) and its
subsidiaries, and received significant exploration work, with approximately $25 million
(as disclosed in Ryan Gold’s 2014 year end MD&A) in expenditures incurred. The
Properties have limited holding costs. Previous work by Ryan Gold included significant
exploration drill programs on two of the Properties, with tens of thousands of rock and
soil samples collected during grass-roots exploration programs in several districts
throughout Yukon. Additionally, geophysical surveys and geologic mapping programs
have outlined many anomalous areas that have not received follow-up work.
Maps, photos and descriptions of the extensive portfolio are available on the company’s
website www.strikepointgold.com
Andy Randell, PGeo, of SGDS Hive, has acted as the qualified person under National
Instrument 43-101 and has reviewed and approved the content of this news release.
ON BEHALF OF THE BOARD of STRIKEPOINT GOLD
Shawn Khunkhun
CEO and Director
For more information, contact:
Shawn Khunkhun
604-602-1440