Walker Acquires the Garfield Flats Project
Walker Acquires the Garfield Flats Project
Vancouver, British Columbia--(Newsfile Corp. - July 11, 2018) -
Walker River Resources Corp.
(TSXV:
WRR
) ("
Walker
" or
the "
Company
") is pleased to announce the acquisition of an Exploration Lease with Option to Purchase Agreement from
Nevada Canyon Gold Corp. on the Garfield Flats Project, located in Mineral County, Nevada about 18 miles southeast of the
town of Hawthorne, NV.
The Garfield Flats Project consists of 156 unpatented mining claims (3120 acres) that cover several past producing small scale
high grade gold and copper mines, altered and mineralized zones discovered by previous geological compilations and mapping
of the historical workings. Historical sampling on the project has revealed the presence of copper, bismuth, and antimony as well
as pervasive lower grade gold mineralization, cut by vein structures (some previously mined) of higher grade gold. Previous
induced polarization surveys also denoted the presence of significant coincident I.P. anomalies. These factors clearly
demonstrate the potential of this relatively unexplored project for the discovery of significant gold mineralization.
The term of the Exploration Lease with Option to Purchase Agreement commenced on June 7, 2017 and continues for ten (10)
years, subject to the right to extend the Agreement for two (2) additional terms of ten (10) years each, and subject to an option to
purchase the Property. Full consideration of the Agreement consists of the following: an initial cash payment of $15,000.00
(paid)
upon the execution of the agreement on June 7, 2017, $15,000.00 (paid)
on the first anniversary of the effective date,
$20,000.00 to be paid on the second and third anniversary of the effective date, $25,000.00 to be paid on the fourth and fifth
anniversary of the effective date, $40,000.00 to be paid on the sixth anniversary of the effective date and any succeeding
anniversary of the effective date.
Walker has the exclusive purchase option and right to acquire 100% ownership of the Property (the "Option"). The purchase
price of the Property shall be USD$300,000.00 (the "Purchase Price").
Consideration for the acquisition of the Exploration
Lease with Option to Purchase Agreement is a cash payment of USD$55,000.00.
The Garfield Flats Project is within the Walker Lane shear zone, a 60-mile-wide structural corridor extending in a southeast
direction from Reno, Nevada, located 18 miles southeast of Hawthorne, NV along U.S. Highway 95. The project has excellent
year-round access and infrastructure within Mineral County, one of the most pro-mining counties in the pro-mining states and
highest-grade gold districts of Nevada.
The Garfield Flats Project is located adjacent to New Range Gold Corp's Pamlico project. In close proximity to several past
producing mines including the Bodie, Aurora, Borealis, Pamlico, Evening Star, Mabel, Mindoro and Camp Douglas Mines. Held
by private interests for most of its history, Garfield Flats remains very underexplored with exceptional potential for new
discoveries on several exploration targets with multiple zones.
ON BEHALF OF THE BOARD OF DIRECTORS
"
Michel David
"
________________________
Michel David
Chief Executive Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Walker River Resources Corp.
Tel: 819 874-0030
Fax: 819 825-1199
Email:
Website:
www.wrrgold.com
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