Riley Gold Executes US$20 Million Earn-In Agreement With Kinross Gold on Its PWC Gold Project (Nevada)
Riley Gold Executes US$20 Million Earn-In Agreement With Kinross Gold on Its PWC Gold Project (Nevada)
Private Placement Announced Including Lead Order from Kinross
宣布的私募配售包括来自Kinross的潜在订单
Vancouver, British Columbia--(Newsfile Corp. - March 14, 2024) - Riley Gold Corp. (TSXV: RLYG) (OTCQB: RLYGF) ("Riley Gold" or the "Company") is pleased to announce that it has entered into an exploration and venture option agreement (the "Agreement") with Kinross Gold U.S.A., Inc. ("Kinross"), a wholly-owned subsidiary of Kinross Gold Corporation (TSX: K) (NYSE: KGC), granting Kinross the right to earn up to a 75% interest in Riley Gold's Pipeline West/Clipper Gold Project ("PWC") by spending a minimum of US$20 million. PWC is located in Lander County, Nevada and consists of approximately 24.7 km2 in the heart of the significant gold producing Cortez District (Battle Mountain - Eureka Trend). Kinross will assume operatorship of the project immediately as well as take a strategic 9.9% (on a partially diluted basis) equity interest in the Company through a private placement.
不列颠哥伦比亚省温哥华--(Newsfile Corp.-2024 年 3 月 14 日)- 莱利黄金公司(多伦多证券交易所股票代码:RLYG)(场外交易代码:RLYGF) (”莱利·戈尔德“或者”公司“)很高兴地宣布,它已经签订了勘探和风险投资期权协议(”协议“) 与 Kinross Gold U.S., Inc. (”金罗斯“)是金罗斯黄金公司(多伦多证券交易所股票代码:K)(纽约证券交易所代码:KGC)的全资子公司,授予金罗斯获得莱利黄金Pipeline West/Clipper黄金项目高达75%的权益的权利(”普华永道“)至少花费2000万美元。普华永道位于内华达州兰德县,占地约24.7平方公里,位于重要的黄金产区科尔特斯区(巴特尔山——尤里卡趋势)的中心地带。Kinross将立即接管该项目的运营,并通过私募收购公司9.9%的战略股权(按部分摊薄计算)。
"We are excited to partner with Kinross on our PWC Project. Their global proven track record speaks for itself as well as specific regional expertise that includes ownership and operations of two gold mines in Nevada (Round Mountain and Bald Mountain). Our PWC project is within the Cortez District that has a significant history of gold production and current reserves. PWC adjoins Nevada Gold Mines LLC, a joint venture between Barrick Gold Corp. and Newmont Corporation, that has current production within their Cortez/Pipeline complex. We look forward to significant exploration efforts by Kinross at PWC beginning this Spring," commented Todd Hilditch, CEO of Riley Gold.
“我们很高兴能与Kinross合作开展我们的普华永道项目。他们在全球范围内久经考验的往绩不言自明,以及特定的区域专业知识,包括内华达州两个金矿(朗德山和巴尔德山)的所有权和运营。我们的普华永道项目位于科尔特斯区,该区有着悠久的黄金生产历史和当前储量。普华永道毗邻内华达金矿有限责任公司,后者是巴里克黄金公司和纽蒙特公司的合资企业,该公司目前在其Cortez/Pipeline综合大楼内生产。我们期待金罗斯从今年春天开始在普华永道进行重大勘探工作。” 莱利黄金首席执行官托德·希尔迪奇评论道。
Agreement Highlights:
协议亮点:
Reimbursement of Expenditures: Within 60 days, Kinross will reimburse a total of US$104,355 to Riley Gold for 2023/2024 land holding costs.
-
First Earn-In Right: Kinross will assume operatorship of the project and can earn an initial 60% interest in PWC (the "Initial Earn-In Option") by incurring a minimum of US$10 million in qualifying work expenditures, subject to upward adjustment in accordance with the Agreement, within five years as follows:
US$1.5 million in guaranteed work expenditures on or before 18 months following execution of the Agreement (the "Effective Date") which shall include a minimum of 2,200 meters of core drilling (within three geographically distinct targets).
An additional US$2.5 million in work expenditures on or before 3rd anniversary of the Effective Date.
An additional US$2.0 million in work expenditures on or before 4th anniversary of the Effective Date.
An additional US$4.0 million in work expenditures on or before 5th anniversary of the Effective Date.
支出报销: 在60天内,金罗斯将向莱利·戈尔德偿还总额为104,355美元的2023/2024年的土地持有成本。
-
第一个赚钱的权利: Kinross将接管该项目的运营,并可以获得普华永道最初60%的权益(”初始盈利期权“) 在五年内支付至少1,000万美元的符合条件的工作开支,但须根据协议向上调整,具体如下:
协议执行后18个月或之前的150万美元有保障的工作开支(”生效日期“)其中应包括至少2,200米的岩心钻探(在三个不同的地理目标内)。
3当天或之前的额外工作支出为250万美元第三方 生效日期周年纪念日。
4 天或之前的额外工作支出为 200 万美元第四 生效日期周年纪念日。
5 岁或之前的额外工作支出为 400 万美元第四 生效日期周年纪念日。
Second Earn-In Right: Kinross shall have the right to earn an additional 15% interest in PWC (for a total 75% interest) (the "Second Earn-In Option") by incurring a minimum US$10 million in qualifying work expenditures within an additional two-year period following exercise of the Initial Earn-In Option.
Project Technical Committee: A Project Technical Committee to be formed including members of both Riley Gold and Kinross.
Joint Venture: Upon exercise of the Initial Earn-in Option, a Nevada limited liability company (the "LLC") will be formed through which Kinross and Riley Gold will hold their respective interests in PWC. Upon exercise or termination of the Second Earn-in Option, Kinross and Riley Gold will fund the on-going operations of the LLC in accordance with their proportionate interests, subject to standard dilution.
Dilution Provision: Should Riley Gold's interest in the LLC be diluted to 10% or less, the Company's interest will be converted to a 2% net smelter return royalty.
第二轮收益: Kinross有权额外获得普华永道15%的权益(总额为75%的利息)(”第二种盈利期权“)在行使初始收入期权后的两年内,至少支付1,000万美元的合格工作支出。
项目技术委员会: 将成立一个由莱利·戈德和金罗斯成员组成的项目技术委员会。
合资企业: 行使初始收益期权后,内华达州的一家有限责任公司(”有限责任公司“)将成立,金罗斯和莱利·戈德将通过该成立来持有各自在普华永道的权益。在行使或终止第二期收益期权后,Kinross和Riley Gold将根据其比例权益为有限责任公司的持续运营提供资金,但须按标准摊薄进行标准摊薄。
稀释条款:如果将莱利·戈德在有限责任公司的权益稀释至10%或以下,该公司的利息将转换为2%的冶炼厂净回报特许权使用费。
Private Placement:
私募配售:
The Company also announces a non-brokered private placement of up to 8,000,000 units at C$0.15 per Unit ("Unit") for total gross proceeds of up to C$1,200,000 (the "Private Placement"). Under the Private Placement, Kinross Gold Corporation will subscribe for a 9.9% ownership interest in the Company on a partially diluted basis including share purchase warrants (the "Kinross Investment"). Additionally, Kinross will have the right, until such time as it holds less than a 3.5% interest in Riley Gold, to maintain, on a pro rata basis, its percentage ownership interest in the Company up to a maximum of 19.9% should Riley Gold undertake any future equity offerings.
该公司还宣布以每单位0.15加元的价格进行高达8,000,000个单位的非经纪私募配售(”单元“)总收益不超过120万加元(”私募配售“)。根据私募配售,Kinross Gold Corporation将在部分摊薄的基础上认购该公司9.9%的所有权,包括股票购买权证(”金罗斯投资“)。此外,如果莱利·戈德将来进行任何股票发行,Kinross将有权按比例将其在公司的百分比所有权权益维持在最高19.9%,直到其持有的Riley Gold权益低于3.5%。
Each Kinross Investment Unit will be comprised of one common share of the Company (a "Share") and one share purchase warrant (a "Kinross Warrant"). Each Kinross Warrant will entitle Kinross to purchase for a period of sixty (60) months one additional Share at an exercise price of C$0.25. If, at any time during the Warrant term, Kinross terminates the Agreement, any unexercised Kinross Warrants shall immediately expire and terminate concurrently with the termination of the Agreement.
每个Kinross投资单位将由公司的一股普通股组成(a”分享“) 和一份股票购买权证 (a) “金罗斯 搜查令“)。每份Kinross认股权证将使Kinross有权在六十(60)个月内以0.25加元的行使价额外购买一股股票。如果在认股权证期限内的任何时候,Kinross终止本协议,则任何未行使的Kinross认股权证将立即到期,并在协议终止时同时终止。
The remaining Private Placement Units will be comprised of one Share and one share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase for a period of twenty-four (24) months one additional Share at an exercise price of C$0.25.
剩余的私募股权将由一股股票和一份股票购买权证组成 (a “逮捕令“)。每份认股权证将使持有人有权在二十四(24)个月内以0.25加元的行使价额外购买一股股票。
It is expected that certain directors and officers of the Company will participate in the Private Placement and are "related parties" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions of the Canadian Securities Administrators ("MI 61-101"). The participation of certain directors and officers in the Private Placement will constitute a "related party transaction" under MI 61-101. The Company intends to rely upon exemptions from the formal valuation and minority approval requirements of MI 61-101.
预计公司的某些董事和高级管理人员将参与私募配售,并且是多边文书61-101所指的 “关联方”- 在特殊交易中保护少数证券持有人 加拿大证券管理局的(”MI 61-101“)。根据MI 61-101,某些董事和高级管理人员参与私募将构成 “关联方交易”。该公司打算依靠对密歇根州61-101正式估值和少数股权批准要求的豁免。
All securities issued under the Private Placement will be subject to a hold period of four months and one day from the closing date. The Company may pay finders' fees in cash. The Private Placement and finders' fees are subject to regulatory approval.
根据私募发行的所有证券将自截止日起四个月零一天的持有期。公司可能以现金支付发现者费用。私募和发起人费用须经监管部门批准。
Net proceeds of the Private Placement will be used for project exploration and general working capital purposes.
私募的净收益将用于项目勘探和一般营运资金用途。
About PWC:
关于普华永道:
PWC constitutes a very prospective exploration property for Carlin-type, disseminated and replacement gold deposits. PWC consists of a land package totaling approximately 24.7 square kms of unpatented mining claims and patented fee lands adjoining Nevada Gold Mines (a joint venture amongst Barrick Gold Corp. and Newmont Mining). PWC is situated along the Cortez Structural Zone of the exceptionally productive Cortez Trend within the Battle Mountain - Eureka Trend in north central Nevada (Figure 1).
普华永道是卡林型、散布金矿和替代金矿床的极具前景的勘探地产。普华永道由总面积约24.7平方公里的未专利采矿权和毗邻内华达金矿(巴里克黄金公司和纽蒙特矿业的合资企业)的专利收费土地组成。普华永道位于内华达州中北部巴特尔山-尤里卡趋势中生产力异常的科尔特斯趋势的科尔特斯结构区沿线(图1)。
About Riley Gold Corp.
关于莱利黄金公司
Riley Gold is an exploration and development company focused in Nevada, USA, with assets that include the Pipeline West/Clipper Project located in the Battle Mountain Eureka Trend (within the Cortez District) and the Tokop Gold Project located within the Walker Lane Trend. Riley Gold's founders and leadership team have a proven track record of maximizing shareholder value during each phase of the mining life cycle: exploration, development, and production.
Riley Gold是一家专注于美国内华达州的勘探和开发公司,其资产包括位于巴特尔山尤里卡特伦德(科尔特斯区内)的西部/快船管道项目和位于沃克巷趋势内的托科普黄金项目。Riley Gold的创始人和领导团队在采矿生命周期的每个阶段(勘探、开发和生产)实现股东价值最大化方面有着良好的记录。
FOR FURTHER INFORMATION, PLEASE CONTACT:
欲了解更多信息,请联系:
Todd Hilditch
托德·希尔迪奇
Chief Executive Officer
首席执行官
Tel: (604) 443-3831
电话:(604) 443-3831
Neither the 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.
多伦多证券交易所风险投资交易所及其监管服务提供商(该术语在多伦多证券交易所风险投资交易所的政策中定义)均不对本新闻稿的充分性或准确性承担责任。
Cautionary statement regarding forward-looking information
关于前瞻性信息的警示声明
This press release contains statements which constitute "forward looking information" under applicable Canadian securities laws, including statements regarding the closing of the Agreement, completion of the Private Placement and Kinross Investment, the participation of directors and officers in the Private Placement and the use of proceeds of the Private Placement, as well as plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking information. Although Riley Gold believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Riley Gold can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties and the Company's future business activities may differ materially from those in the forward-looking information as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions and the ability to obtain the requisite approvals of the TSX Venture Exchange, or failure to meet other conditions to closing, to the transactions reflected in this press release. The Agreement, Private Placement, Kinross Investment and other transactions may not be completed at all if these approvals are not obtained or some other condition to the closing is not satisfied. Investors are cautioned that any such forward-looking information is not a guarantee of future business activities and involves risks and uncertainties. Additional information on these and other factors that could affect Riley Gold operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR+ website ()..There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
本新闻稿包含根据适用的加拿大证券法构成 “前瞻性信息” 的声明,包括有关协议结束、私募和金罗斯投资的完成、董事和高级管理人员参与私募和私募收益的使用以及公司、其董事或高级管理人员对公司未来业务活动的计划、意图、信念和当前预期的声明。“可能”、“将”、“可以”、“将”、“打算”、“计划”、“预期”、“相信”、“估计”、“期望” 等词语以及与公司或其管理层相关的类似表述旨在识别此类前瞻性信息。尽管莱利·戈德认为这些前瞻性陈述中反映的预期是合理的,但不应过分依赖它们,因为莱利·戈德无法保证这些预期会被证明是正确的。由于前瞻性陈述涉及未来的事件和状况,就其本质而言,它们涉及固有的风险和不确定性,由于各种因素,包括但不限于市场价格波动、公司运营成功、资本和融资的持续可用性以及总体经济、市场或业务状况以及获得多伦多证券交易所风险交易所必要批准的能力,或者未能满足其他条件才能成交,适用于本新闻稿中反映的交易。如果未获得这些批准或不满足其他成交条件,则协议、私募配售、Kinross投资和其他交易可能根本无法完成。提醒投资者,任何此类前瞻性信息都不能保证未来的业务活动,并涉及风险和不确定性。有关这些因素以及其他可能影响Riley Gold业务和财务业绩的因素的更多信息包含在加拿大证券监管机构存档的报告中,可通过SEDAR+网站()进行访问。无法保证此类信息会被证明是准确的,因此,建议读者依靠自己对此类不确定性的评估。除非适用的证券法要求,否则公司不承担任何更新任何前瞻性信息的义务。
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION
MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
本新闻稿不适用于分发给美国新闻专线服务
或用于在美国传播。任何不遵守此限制的行为
可能构成对美国证券法的违反。