Triumph Gold to acquire Big Creek property in Yukon
2021-02-04 07:50 ET – News Release
Mr. John Anderson reports
Triumph Gold Corp. has entered into an agreement with Teck Resources Ltd. to acquire the Big Creek copper-gold property located in Yukon, Canada, in consideration for 1.25 million common shares of the company and a 1.5-per-cent net smelter return granted to Teck, pursuant to a royalty agreement.
The Big Creek property consists of 258 contiguous quartz mining claims in the Whitehorse Mining District of Yukon (NTS sheets 115I/05 and 115I/12) and borders Triumph Gold’s 100% owned Tad/Toro property to the northwest, significantly expanding the Company’s interest in the Dawson Range Gold District (Figure 1). The adjoining properties are located along the prolific Big Creek Fault and the planned extension of the Mt. Freegold Road by the Yukon Resource Gateway Project. The existing 85-kilometre-long Mt. Freegold Road provides access to all portions of the Company’s flagship Freegold Mountain Project located approximately 15 kilometres southeast of the newly acquired Property. The Yukon Government recently announced a second Resource Gateway Project agreement with Little Salmon/Carmacks First Nation, involving mining-standard upgrades to the three bridges along the existing Mt. Freegold Road.
All securities issued in connection with the Transaction will be subject to a four month hold period in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the « TSXV »). No finder’s fees will be paid in connection with the Transaction. The Transaction is an arms-length Transaction, and completion of the Transaction is subject to approval of the TSXV.
The technical content of this news release has been reviewed and approved by Jesse Halle, P.Geo., Vice President Exploration for the Company and qualified person as defined by National Instrument 43-101.
About Triumph Gold Corp.
Triumph Gold Corp. is a Canadian based, growth-oriented precious metals exploration and development company with a district scale land package in mining friendly Yukon. Triumph Gold is focused on creating value through the advancement of the district-scale Freegold Mountain Project located in the Dawson Range Gold Belt of Yukon, Canada. For maps and more information, please visit triumphgoldcorp.com.