Argo Gold Completes Sale of Rockstar Gold Property
Toronto, Ontario--(Newsfile Corp. - April 5, 2018) - Argo Gold Inc. (CSE: ARQ) ("Argo Gold" or the "Company") is pleased to announce that, further to its news release of March 21, 2018, it has sold its 100% interest in 16 unpatented mining claims comprising its Rockstar Gold Property (the "Rockstar Property") located in the Sault Ste. Marie Mining Division to Manitou Gold Inc. ("Manitou"), pursuant to a mining claim acquisition agreement dated March 20, 2018. Pursuant to the terms of the agreement, the Company sold the Rockstar Property in exchange for:
- CDN$200,000 payable to the Company;
- 4 million shares of Manitou issued to Argo Gold; and
- A 1% net smelter return royalty (the "Royalty") in favour of Argo Gold on the Rockstar Property. Manitou can purchase 0.5% of the Royalty (so that the remaining Royalty is equal to 0.5%) from Argo Gold for the sum of CDN$500,000.