KIRKLAND LAKE, ON / ACCESSWIRE / August 18, 2016 / Mistango River Resources Inc. (CSE: MIS) announces the purchase and sale of the former producing Estrades Mine and adjacent Casa Berardi claims located in Western Quebec and approximately 95 kilometres north of La Sarre to Galway Metals Inc.
The cash consideration for the package was CDN $700,000 with the Company retaining a transferable 1% NSR on portions of three claims that comprised the former Estrades Mining Lease, which hosts the Main Zone and part of the Central Zone.
The Royalty may be purchased at any time by Galway Metals Inc. for CDN $1.0 million. On the adjacent Casa Berardi claims, which cover approximately seven kilometres of the Casa Berardi Break, there remains a underlying 2% NSR Royalty payable to the original vendors of the claims.
This news release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or developments that Mistango believes, expects or anticipates will or may occur in the future including, without limitation, statements relating to the certification of the registration of the assignment agreement by the Registry Office and the release of the Consideration from escrow. These forward-looking statements reflect the current expectations or beliefs of Mistango based on information currently available to Mistango. Forward-looking statements are subject to a number of significant risks and uncertainties and other factors that may cause the actual results of Mistango to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Mistango.
For further information please contact:
Robert J. Kasner, President & CEO
Telephone: 705-568-7540
E-mail: [email protected]
Donald Kasner, Investor Relations
Telephone: 705-570-1019
E-mail: [email protected]
Website: www.mistangoriverresources.ca
SOURCE: Mistango River Resources Inc.