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Hawkmoon Enters Into Option Agreement to Acquire Claims Contiguous to The Wilson Property

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Hawkmoon Enters Into Option Agreement to Acquire Claims Contiguous to The Wilson Property

 

 

 

 

 

Hawkmoon Resources Corp. (CSE:HM) (FSE:966) has entered into a purchase option agreement to acquire a 100% interest in the Wilson East Property. Wilson East expands Hawkmoon’s existing land interest to the east of the Wilson property. Wilson East is composed of six claims totaling approximately 338 hectares and situated 15 kilometres east of the town of Lebel-sur-Quévillon, Québec and 170 kilometres northeast of the city of Val-d’Or. The new claims are prospective for gold mineralization and have been drilled. The primary areas of interest range from the Verneuil-Serem Ouest showing eastwards along a sheared contact between the volcanics and gabbro. Figure 1 below highlights the new claims (outlined in blue) in relation to the Wilson property (outlined in red).

 

Figure 1: Location Map of the Wilson East Property

Terms of the Acquisition

 

Pursuant to the Agreement, the Company may acquire a 100% interest in the Property by issuing an aggregate of 400,000 shares and making aggregate cash payments of $86,000 over a period of three years, as outlined in Table 1 below.
Table 1: Share Issuance and Cash Payment Schedule

 

Milestone Shares Issuances Cash Payments
Upon Signing 200,000 $12,000
1 Year Anniversary 200,000 $17,000
2 Year Anniversary n/a $22,000
3 Year Anniversary n/a $35,000
Totals 400,000 $86,000

 

On completion of the earn-in, the optionors will retain a net smelter return of 1.5%, 0.5% of which may be purchased by Hawkmoon for $600,000.

Branden Haynes, President of Hawkmoon, states “We are very pleased to enter into a purchase option agreement related to these new claims, as they are contiguous to our Wilson property. This opportunity reinforces our focus on the Quévillon area. The claims appear prospective for gold exploration.”

 

About Hawkmoon Resources

 

Hawkmoon is focused entirely on its three Quebec gold projects. Two of these projects are in one of the world’s largest gold deposits, the Abitibi Greenstone Belt. Both these gold projects are accessed by government-maintained roads and are in close proximity to each other east of the town of Lebel sur Quévillon. The third project is situated in the Belleterre Gold Camp southwest of Val-d’Or.

 

Qualified Person

 

The technical information in this news release has been reviewed and approved by Thomas Clarke P.Geo., Pr.Sci.Nat. Mr. Clarke is a “Qualified Person” under NI 43-101 and is a Director and the Vice President Exploration of Hawkmoon.

Posted November 25, 2021

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