Golden Pursuit Resources Ltd. (the “Company”) announces that it has entered into letters of intent (the “Agreements”) with 1167609 B.C. Ltd. (the “Optionee”) with respect to the Stevens Basin project (“SB Project”) and Black Point project (“BP Project”) which are both located in Nevada, USA (the “Properties”).  

 

Pursuant to the Agreements, the Company has granted the Optionee the option to purchase a 60% interest in the Properties subject to a 2% NSR in favour of the Company and which the Optionee shall make the following payments to the Company as set out below:

 

SB Project

 

The purchase price of the SB Project is USD$500,000 and is payable on or before commencement of commercial production. In addition, the Optionee has agreed to make the following lease payments paid in consideration of the grant and maintenance in good standing of the option to purchase: (i) USD$25,000 within 5 business days of signing the Agreement (being October 10, 2018); (2) USD$50,000 on or before the 1st and 2nd anniversary; (3) USD$75,000 on or before the 3rd and 4th anniversary; and (4) USD$100,000 before the 5th anniversary and annually thereafter.

 

BP Project

 

The purchase price of the BP Project is USD$750,000 and is payable on or before commencement of commercial production. In addition, the Optionee has agreed to make the following lease payments paid in consideration of the grant and maintenance in good standing of the option to purchase. Upon execution of the Agreement, the Optionee shall pay to the Company (i) USD$25,000 within 5 business days of signing the Agreement (being October 10, 2018); (2) USD$25,000 on or before the 1st and 2nd anniversary; (3) USD$50,000 on or before the 3rd and 4th anniversary; and (4) USD$100,000 before the 5th anniversary and annually thereafter.

 

The Company continues to operate under a project generator model with a special emphasis on Nevada. The Company has a remaining large portfolio of 18 other properties located in Nevada and a property in the North West Territories which it continues to compile data from previous work and has completed geological mapping and sampling this past year which has enhanced the understanding of the mineral potential of these projects.

 

GOLDEN PURSUIT RESOURCES LTD.

 

Per: “Brian McClay”
Brian McClay, President

 

CONTACT INFORMATION:

 

Brian McClay

Email: info@Goldenpursuit.com

Tel: (604) 730-6982

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.