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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (77044)	6/4/2020 11:22:50 AM
From: Goose94	Read Replies (1) \| Respond to of 202784

Red Lake Gold (RGLD-Cse) Newco Alma Gold to Shareholders, Provides Additional Corporate Updates June 4th 2020 - NR Red Lake Gold is pleased to announce certain corporate developments. Intent to Spin-Out Alma Gold Inc. The Corporation advises that it has incorporated a wholly-owned subsidiary, Alma Gold Inc. ("Alma Gold"), a corporation existing under the laws of British Columbia. Alma Gold has executed an option agreement to acquire a 100% interest in the Chambers Settlement Gold Project in New Brunswick, Canada (the "Chambers Settlement Gold Project") from Avalon Gold Resources Inc., an arm's-length party based in Toronto, Canada. The Chambers Settlement Gold Project has had recent exploration thereon with follow-up work planned by Alma Gold. The terms of the Chambers Settlement Gold Project involve a series of cash payments over a four-year earn-in period, and the granting of a 2% royalty, half of which may be re-purchased by Alma Gold. The Corporation has retained Mercator Geological Services Limited of Halifax, Nova Scotia to ready certain exploration plans, as well as other technical materials expected to be used in conjunction with the corporate plans disclosed herein. Red Lake Gold intends to spin-out shares of Alma Gold to its shareholders at a yet-to-be-determined ratio. It is expected that Alma Gold will conduct a financing in conjunction with an intent to pursue a public listing of Alma Gold. Further information and disclosure documentation, including the applicable record date, shall be forthcoming as available. Fenelon Gold Inc. The Corporation is also pleased to report that it has incorporated a wholly-owned subsidiary, Fenelon Gold Inc., for the purposes of advancing its Fenelon North Gold Project, which shares a 50km common property boundary with Wallbridge Mining Company Limited. Through the Fenelon North Gold Project, the Corporation controls a significant amount of mineral tenure exceeding 60,000 acres which includes substantial holdings within the Jeremie Pluton, a structure that has recently seen increased exploration industry focus (see also Red Lake Gold news releases dated June 2, 2020 and February 12, 2020). Additional information on the Fenelon North Gold Project may be found at: pr.report The Corporation further advises that it recently sought certain regulatory relief by way of written application to Québec's Minister of Energy and Natural Resources. Subsequent to that application, and in conjunction with publicly-disclosed province-wide relief granted by the Government of Québec to claim holders in the province, the Corporation beneficially received certain relief from particular regulatory requirements (the "Fenelon North Gold Project Relief"). The net result of the Fenelon North Gold Project Relief was that the applied for relief portion of the Fenelon North Gold Project received an extended good-standing date through to early 2023. The Corporation expresses its gratitude to the Government of Québec, under the leadership of the Minister of Energy and Natural Resources, for Québec's conscientious and balanced efforts to manage public health and economic vitality. Update on the Whirlwind Jack Gold Project In conjunction with the corporate developments announced herein, Red Lake Gold believes it will be well-positioned to direct resources to the Whirlwind Jack Gold Project as certain COVID-19 restrictions and constraints are lifted in Ontario. Additional information on the Whirlwind Jack Gold Project may be found at: pr.report On Behalf of the Board of Directors Ryan Kalt Chairman & Chief Executive Officer Email: info@redlakegold.ca