ST. JOHN'S, Aug. 21, 2019 /CNW/ - Aurion Resources Ltd. (TSX VENTURE: AU) ("Aurion" or the "Company") is pleased to announce that, as of August 13th, 2019, B2Gold Corp. (TSX: BTO) has exercised its option to acquire a 51% interest in the Finland Joint Venture covering approximately 25,000 hectares, which include the Kutuvuoma and Ahvenjarvi projects.
Since inception of the agreement, dated January 13, 2016, B2Gold completed over CAN$5 million in exploration expenditures, paid Aurion CAN$50,000 in cash and issued 550,000 B2Gold shares over four-year period.
B2Gold has the option to earn an additional 19% interest by spending a further CAN$10 million over two years, and, if exercised, an additional 5% interest by completing a feasibility study, for a total of 75%.
"We have worked closely with the B2Gold team over the years, and are pleased that they have exercised their option on the 51%-interest," commented Mike Basha, President and CEO. "The B2Gold team has a strong history of identifying excellent projects and putting them into production. We look forward to working with them in the years to come."
Certain statements contained in this release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Companies' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this release is made as of the date hereof and Aurion is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
On behalf of the Board of Directors,
President & CEO
SOURCE Aurion Resources Ltd.
For further information: Mike Basha, President & CEO, (709) 699-8300, (709) 722-2141, [email protected]