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STRIKEPOINT SIGNS DEFINITIVE AGREEMENT TO SELL MAHTIN PROPERTY TO SITKA GOLD

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STRIKEPOINT SIGNS DEFINITIVE AGREEMENT TO SELL MAHTIN PROPERTY TO SITKA GOLD

 

 

 

 

 

StrikePoint Gold Inc. (SKP:TSX.V) (STKXF:OTCQB) announces that the company has signed a definitive agreement dated January 13, 2020, with Sitka Gold with respect to the acquisition by Sitka of 100 per cent of StrikePoint’s Mahtin property. The property is located approximately 40km northwest of the town of Mayo in the central Yukon Territory. The terms of the transaction set out in the definitive agreement include:

 

 

  • Sitka Gold will acquire 100 per cent of the property;
  • Sitka Gold will issue two million common shares to StrikePoint;
  • StrikePoint will retain a 1 per cent net smelter return royalty, which can be purchased for an additional cash payment of $1-million.

 

 

StrikePoint CEO Shawn Khunkhun commented: “The Mahtin transaction will provide StrikePoint with a significant share position in Sitka and a royalty on the Mahtin property. This will provide StrikePoint shareholders with exposure not only to the exploration upside at Mahtin, but to Sitka’s entire project portfolio, which include the Burro Creek Gold-Silver Deposit in Arizona, the Alpha Gold Project in Nevada and the RC Gold Property in the Yukon. Sitka’s has a strong technical team, good share structure with significant ownership by management and have demonstrated an ability to finance operations.

 

 

About StrikePoint

 

StrikePoint Gold is a gold exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC’s Golden Triangle. The past-producing high-grade silver Porter Project and the high-grade gold property Willoughby, which is adjacent to Red Mountain. The company also owns a portfolio of gold properties in the Yukon.

 

Posted January 14, 2020

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