Val-d'Or Mining Announces Follow-On Agreement for Strategic Partnership with Gold Royalty Corp.
Val-d'Or Mining Announces Follow-On
Agreement for Strategic Partnership with Gold
Royalty Corp.
Val-d'Or, Québec--(Newsfile Corp. - March 10, 2023) - Val-d'Or Mining Corporation (TSXV: VZZ) ("Val-
d'Or Mining" or the "Company") is pleased to announce that further to the Company's news release of
December 2, 2022, it has entered into a further letter agreement dated March 9, 2023 (the "Agreement")
with
Gold Royalty Corp.'s wholly owned subsidiary, Golden Valley Abitibi Royalties Ltd. ("Abitibi"), which
together with Gold Royalty Corp., is referred to as "Gold Royalty", for the assignment and transfer to the
Company of all rights, titles and interests in and to the mineral claims forming Abitibi's Upper Red Lake
property located in Ontario (the "Abitibi Exploration Portfolio") in consideration for which the Company
will grant to Gold Royalty a 1% net smelter return royalty on the property comprising the Abitibi
Exploration Portfolio. Gold Royalty holds 28,965,050 shares in the capital of the Company, representing
35.1% of its issued share capital, and accordingly is an insider of the Company in accordance with
applicable securities legislation.
No cash or equity consideration will be paid for the Abitibi Exploration Portfolio acquired by the
Company.
The Company will pay to Gold Royalty 20% of any future consideration received by the
Company consisting of cash, shares or other securities of any entity received by the Company from a
third party in consideration for any interest in, or otherwise in relation to, the Abitibi Exploration Portfolio
pursuant to any transaction, agreement or other arrangement entered into, agreed to or announced by
the Company on or before March 31, 2024.
The transaction contemplated by the Agreement is subject to customary closing conditions, including but
not limited to applicable regulatory approval. The Agreement can be terminated by either party if the
transactions contemplated by the Agreement have not completed on or before April 30, 2023.
About Val-d'Or Mining Corporation
Val-d'Or Mining Corporation is a natural resource issuer involved in the process of acquiring and
exploring its mineral property assets, most of which are situated in the Abitibi Greenstone Belt of NE
Ontario and NW Québec. To complement its current property interests, the Company regularly evaluates
new opportunities for staking and/or acquisitions. Outside of its principal regional focus in the Abitibi
Greenstone Belt, the Company holds several other properties in Northern Québec (Nunavik) covering
different geological environments and commodities (Ni-Cu-PGE's).
The Company has an expertise in the identification and generation of new projects, and in the early
stages of exploration. The mineral interests are broad and range from gold, copper-zinc-silver, nickel-
copper-PGE to industrial and energy minerals. After the initial value creation in the 100%-owned, or
majority-owned properties, the Company seeks option/joint venture partners to conduct more advanced
exploration on the projects.
For additional information, please contact:
Glenn J. Mullan
President & Chief Executive Officer
2864 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 819-824-2808
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
news release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/157916