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Solstice Sells Shaw Property to HighGold Mining

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Solstice Sells Shaw Property to HighGold Mining

 

 

 

 

 

Generates New Royalty in Timmins Mining Camp

 

 

Solstice Gold Corp. (TSX-V: SGC) is pleased to announce that it has entered into a purchase and sale agreement with HighGold Mining Inc. to sell a 100% interest in the Shaw Property located in the Timmins Mining Camp in Ontario. The property is comprised of 18 single and multi-cell claims located in Shaw, Eldorado, and Whitney Townships, near Timmins Ontario, located approximately seven kilometers southeast of Newmont’s Dome Mine open pit operation.

 

Mike Timmins, Solstice’s Chief Executive Officer stated, “The agreement provides Solstice shareholders exposure to exploration and potential new discoveries in the Timmins Mining Camp via the royalty on the Shaw Property which will be advanced by the exploration and development team at HighGold. This is yet another example of how we can collaborate with other exploration groups to unlock value through the conversion of our property portfolio into attractive stand-alone royalties or other project participation in prospective areas of Canada. Improving cash inflows allow us to direct more resources to support exploration activities at our core district-scale exploration projects in Red Lake, Atikokan and Nunavut.”

 

Under the Agreement, HighGold is required to make a cash payment of $75,000 to Solstice and the Company will be granted a 2.0% net smelter return royalty. HighGold has the right to repurchase 1.0% of the royalty at any time for $1,500,000.

 

Solstice controls an extensive portfolio of gold, copper and lithium/REE projects in Ontario which are available for 100% sale or option. See our corporate materials available at www.solsticegold.com for further details.

 

About Solstice Gold Corp.

 

Solstice is a gold-focused exploration company with quality, district-scale projects in established mining regions of Canada. Our 174 km2 Red Lake land position is located on the northern extensions of the prolific Red Lake Gold Camp in Ontario. RLX is approximately 45km from the Red Lake Mine Complex owned by Evolution Mining. The Company is funded for phase one drilling in Red Lake. Our newly formed 225km2 Atikokan Gold Project is approximately 23km from the Hammond Reef Gold Project owned by Agnico Eagle Mines Limited and is fully funded for a robust field program in 2022. Our district scale Qaiqtuq Gold Project covers 886 km2 with certain other rights covering an adjacent 683 km2, hosts a 10 km2 gold boulder field and is fully permitted with multiple drill-ready targets. Qaiqtuq is located in Nunavut, Canada, only 26 km from Rankin Inlet and approximately 7 km from the Meliadine gold deposits owned by Agnico Eagle Mines Limited. In October 2021, the Company acquired a royalty and property portfolio of over 80 assets located in Ontario and Quebec.

 

Solstice is committed to responsible exploration and development in the communities in which we work.

 

Posted February 7, 2022

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