TORONTO, June 18, 2019 /CNW/ - Talisker Resources Ltd. ("Talisker" or the "Company") (CSE:TSK) is pleased to announce that the Company has entered into three agreements further expanding its land position in the Spences Bridge Gold Belt. These agreements, with separate arm's length vendors, are for strategic mineral claims covering known low-sulphidation epithermal vein occurrences.
Terry Harbort, President & CEO of Talisker commented, "The continued consolidation of third party claims within the Spences Bridge Gold Belt solidifies our position as a dominant player in this emerging gold district. Acquiring these mineral claims with outcropping vein occurrences allows Talisker the opportunity to focus our systematic exploration potentially shortening the timeline to discovery."
The Blustery Mountain Project purchase agreements encompass four mineral claims totaling 471.5 hectares in exchange for cash payments of $30,000, the issuance of 220,000 common shares of Talisker and in the case of three of the minerals claims, a 1% Net Smelter Royalty (NSR). Talisker has the right to purchase 50% of the NSR for $500,000.
The Dora-Merritt Property option agreement encompasses six mineral claims totaling 374.05 hectares and provides the Company with an option to acquire 100% of the Dora-Merritt Property mineral claims. Under the term of the option agreement, Talisker has committed to pay $10,000 in cash on acceptance by the Canadian Securities Exchange (the "Exchange"), $10,000 in cash and 50,000 common shares of Talisker on May 31, 2020 and May 31, 2021, $20,000 in cash and 50,000 common shares of Talisker on May 31, 2022, $50,000 cash and 150,000 common shares of Talisker on May 31, 2023 and to spend a minimum of $50,000 per year over five years. The option agreement is also subject to a share bonus of one common share per ounce of gold equivalent in the inferred or greater category to a maximum of 250,000 common shares and a 2% NSR. Talisker has the right to purchase 50% of the NSR for $1,000,000.
The acquisitions are subject to the approval of the Canadian Securities Exchange (the "CSE").
In other news, Talisker announces that it has granted an aggregate of 3,400,000 options to purchase common shares of the Company exercisable at a price of $0.20 per share for a period of five years, to directors, officers and consultants of the Company. The common shares issuable upon exercise of the options are subject to a four month hold period from the original date of grant. Additionally, the Company has granted 100,000 restricted share units ("RSUs") to an employee of the Company under the terms of the Company's restricted share unit plan (the "RSU Plan"). Each RSU entitles the holder to acquire one common share of the Company by delivering an exercise notice in accordance with the RSU Plan. The RSU grant follows the guidelines of the RSU Plan and are subject to approval by the CSE.
About Talisker Resources Ltd.
Talisker Resources Ltd. is a junior resource company involved in the exploration and development of projects in British Columbia, Canada. Talisker's projects consist of several early to advanced stage projects. The Toodoggone projects located in the prolific Golden Triangle include the past producing Baker Gold/Silver Project, the Shasta Mine and Baker mill infrastructure and equipment, the Chappelle (Baker and Multinational Mines) Property, the Mets Lease and the Bot Property. South Central B.C. projects include the Tulox Property, the WCGG Properties, and the Spences Bridge Regional Program, a 226,881 hectare land package covering 70% of the Spences Bridge Gold Belt.
Certain statements contained in this press 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 Talisker's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the listing of the common shares of Talisker on the CSE. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Talisker. Although such statements are based on reasonable assumptions of Talisker's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
Forward-looking information contained in this news release is based on certain factors and assumptions. While Talisker considers these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. The forward-looking information contained in this release is made as of the date hereof, and Talisker 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.
SOURCE Talisker Resources Ltd
For further information: on this press release, please contact Terry Harbort, Chief Executive Officer of Talisker at [email protected]