Transatlantic Mining Corp. Announces Letter of Intent to Sell US Grant Asset and the Kearsarge Project
Transatlantic Mining Corp. | Suite 400 | 837 West Hastings Street | Vancouver | Canada V6E 3T5
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Transatlantic Mining Corp. Announces Letter of Intent to Sell US Grant Asset and the Kearsarge
Project
TCO NEWS RELEASE-VANCOUVER, B.C., January 30, 2020 – Transatlantic Mining Corp. (the “Company”) (TCO:TSX.V)
announces that further to the letter of intent and exclusivity period to conduct a due diligence with Endomines (Nasdaq Stockholm
:ENDO and Nasdaq Helsinki : ENDOM) to for the sale and purchase of the US Grant Mine and Mill in conjunction with the
Lease Assignment of the Kearsarge Gold Project (collectively the “Assets”). The Assets are currently managed and owned by
theCompany’s wholly owned subsidiary, Transatlantic Montana.
Details of Transaction to date:
Payment of $550,000 USD (received)
An exclusivity period of 60 days from December 30, 2019
Both parties continue to work on the final due diligence and the Sale and Purchase Agreement ( See also News Release
:Endomines January 28 2020)
Should the Sales and Purchase Agreement not proceed or complete, then the $550,000 USD will be converted in TCO shares at
$0.05 CAD per share.
The transaction is subject to acceptance for filing by the TSX Venture Exchange (the “TSX.V”). It is expected that f urther
announcements will be made in regards to the transaction on or before the expiry of the final due diligence period.
Both companies are well set in the region as a gold district with aligned strategy to capitalize on developing new gold mines for
near term future revenue generation from high grade gold mineralization assets to benefit all stakeholders .” commented Bernie
Sostak CEO of Transatlantic Mining.
About Transatlantic Mining Corp.
Transatlantic Mining ( TSX-V: TCO) is an emerging precious and base metal explorer. The Company has a focus on converting
projects into mines within stable mining jurisdictions. The Company entered a purchase agreement towards 100% of the US
Grant Gold-Silver Mine & Mill complex in Montana (USA). The Company has also a lease (option to purchase) agreement on
100% of the Kearsarge Gold project in Montana, located 8 km from the US Grant Mill.
The Company is also engaged in controlling and owning mineral properties interests, including the 80% Joint Venture position on
the Monitor Copper-Gold project in Idaho (USA).
For further information please contact: Bernie Sostak +61 (0) 439 904 044
Email :[email protected]
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