Transatlantic Mining Corp. Update to Sell US Grant Asset and the Kearsarge Project
Transatlantic Mining Corp. | Suite 400 | 837 West Hastings Street | Vancouver | Canada V6E 3T5
T 604-424 8257 | F 604-357 1139| www.transatlanticminingcorp.com
Transatlantic Mining Corp. Update to Sell US Grant Asset and the Kearsarge Project
TCO NEWS RELEASE -VANCOUVER, B.C., June 8, 2020 – Transatlantic Mining Corp. (the “Company”) (TCO:TSX.V)
announces further to the previous and agreed terms with Endomines (Nasdaq Stockholm :ENDO and Nasdaq Helsinki : ENDOM)
to sell the US Grant Mine and Mill in conjunction with the Lease Assignment of the Kearsarge Gold Project (collectively the
“Assets”) an up to 60 day extension unless mutually agreed to extend beyond that date . The Assets are currently managed and
owned under the Company’s wholly owned subsidiary, Transatlantic Montana.
Summary Details of Transaction :
• Payment of $550,000 USD (received January 8th 2020)
• Payment of $2.0 M USD ( July 31st 2020 or prior)
• 95 % of the Transatlantic current Share Capital structure at 10 cents CAD to be fully paid in Endomines Common Shares
to Transatlantic Mining Corporation
• $2.0 M USD cash payment on first gold production on the Assets or 2 years whichever is earlier
The up to July 31st 2020 extension has been mutually agreed by the parties subject to meeting all the conditions and obligations of
the Agreement.
The transaction is subject to final acceptance for filing by the TSX Venture Exchange (the “TSX.V”) and shareholder approvals for
the disposition as they are required.
Further announcements will be made in regards to the progress of the transaction .
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 also has an option with lease to
purchase at the Miller Gold Mine also in Montana to 100% ownership.
The Company is also engaged in controlling and owning mineral properties interests, such as 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 adequ acy or accuracy of this release