Wildsky Resources Inc. Signs MOU Concerning Option of Zimbabwean Gold Property
Wildsky Resources Inc. Signs MOU
Concerning Option of Zimbabwean Gold
Property
Vancouver, British Columbia--(Newsfile Corp. - March 23, 2026) - Wildsky Resources Inc.
(TSXV:
WSK)
(the
"Company"
) hereby announces that it has entered into a non-binding memorandum of
understanding (the "
MOU
") with respect to an option (the "
Option
") to acquire a gold and base metal
property located in Zimbabwe from Midau Mining (Private) Limited and Krumlin Mining (Private) Limited
(collectively, the "
Optionors
").
Pursuant to the terms of the Option, the Company may acquire a 100% interest in two Exclusive
Prospecting Orders (an "
EPO
") 1725 and 1622, and claims inside owned by the Optionors (the
"
Property
"). The two EPO's cover the most important gold mineralization belt in Zimbabwe, Munyathi
and Lily shear zone, the total covered area is 484.14 square kilometers. The proposed transaction is
subject to, among other terms, the parties entering into a formal option agreement and the approval of
the TSX Venture Exchange (the "
Exchange
").
In order to exercise the Option, the Company must undertake the following cash payments and
exploration on the Property:
Pay the Optionors USD $100,000 in cash on signing of the Option Agreement;
Twelve months after the date ("
Bulletin Date
") of the Final Exchange Bulletin for the acquisition of
the Option, pay the Optionors a further USD$50,000 in cash and issue to the Optionors that
number of common shares in the capital of WSK equal to a value of USD $100,000; and
Within Twenty-four (24) months after the Bulletin Date, issue to the Optionors that number of
common shares in the capital of WSK equal to a value of USD $200,000, and spend not less than
USD $2,000,000 in exploration expenses on the Property.
The Property shall be subject to a 5% net smelter royalty (the "
NSR
") in favor of the Optionors, and the
NSR shall be payable on all minerals produced from the Property by or for the benefit of the Company up
to a cap of USD$10,000,000.
Subject to the approval of the Exchange, in the event that the Company attains production or reserves of
1Moz AU on the Property, the Company shall issue 200,000 common shares in the capital of the
Company to the Optionors. And, in the event that the Company attains production or reserves in excess
of 2Moz AU on the Property, the Company shall issue a further 200,000 common shares in the capital of
the Company to the Optionors.
If, at any time after earning its 100% interest in and to the Property, the Company decides to sell part or
all of the Property, the Company shall grant the Optionors a right of first refusal to purchase that part of
the Property that the Company intends to sell on the same terms and conditions as applicable to the
proposed sale.
The parties to the proposed transaction are at arms' length. No finder's fee is payable in connection with
the proposed transaction.
About Wildsky Resources Inc.
Wildsky Resources Inc. is a Canadian based exploration and development company with an office
located in Vancouver, B.C. The Company's goal is to create value for shareholders through continuously
exploring and developing its current properties in Nigeria, and at the same time looking for new
properties to acquire through its international connections.
For more information on Wildsky Resources, please contact the Company at (778) 889-4966, or visit the
Company's website at
www.wildskyresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
signed by "Wenhong Jin"
Wenhong Jin
President and CEO
Neither 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 of accuracy of this
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/289556