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.
For more information please contact:
Chief Executive Officer and Director
Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com.