TriStar Gold

Scottie Resources Acquires Option for 100% Interest in the Bow Property

VANCOUVER, British Columbia, Jan. 25, 2019 (GLOBE NEWSWIRE) -- Scottie Resources Corp. (“Scottie” or the “Company”) (TSXV: SCOT) is pleased to announce that the Company has received regulatory approval from the TSX Venture Exchange (the "TSXV") of an option agreement dated December 12, 2018 (the "Agreement") with Decade Resources Ltd. (“Decade”) to acquire a 100% interest in the 471.92 hectare Bow property (the “Bow”) located in the “Golden Triangle” mining district of British Columbia.  The Bow is subject to a 3% net smelter return royalty.

The Bow is contiguous with the Company’s 100% owned Scottie Gold property which hosts the past producing Scottie Gold mine.  

The terms of the Agreement call for cash payments totalling $1,000,000 to be paid in five equal installments as follows:

  • $200,000 within 3 business days of Decade and Scottie receiving TSXV approval of the option agreement;
  • $200,000 on or before the date that is 6 months after the execution date of the Agreement (the "Execution Date");
  • $200,000 on or before the date that is 12 months after the Execution Date;
  • $200,000 on or before the date that is 18 months after the Execution Date; and
  • $200,000 on or before the date that is 24 months after the Execution Date.

The Company has paid the initial $200,000 due on TSXV approval of the option agreement.  In the event that all the payments are not made, Scottie will have no interest in the Bow property.

Edward Kruchkowski, a director of each of Decade and Scottie, abstained from approving the transaction and was not involved in negotiating its terms.

ABOUT SCOTTIE RESOURCES CORP.

Scottie owns a 100% interest in the high grade, past-producing, Scottie Gold property located in the heart of the Golden Triangle.  In addition, Scottie owns 100% interests in the Ruby Silver property, the Black Hills property and the Stock property (75% of which is optioned to Jaxon Minerals Inc.) all located in the Golden Triangle.

Further information on Scottie can be found on the Company’s website at www.scottieresources.com and at www.sedar.com, or by contacting Bradley Rourke, President and CEO at (250) 877-9902.

ON BEHALF OF THE BOARD OF DIRECTORS

"Bradley Rourke"
Bradley Rourke
President & CEO

FORWARD LOOKING STATEMENTS

This news release may contain forwardlooking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forwardlooking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forwardlooking statements are based on the beliefs, estimates and opinions of the Company’s management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forwardlooking statements whether as a result of new information, future events or otherwise.

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

GET DAILY NEWS FLOW

Sign Up To Receive All Morning
News To Your Email Inbox

Please review our Disclaimer and Privacy Policy before subscribing.

Scottie Resources

Last Trade: C$0.23
Daily Change: 0.015 6.98
Daily Volume: 710,345
Market Cap: C$14.200M
Scottie Resources Closes $2,000,000 Investment By Strategic Investor Eric Sprott
Scottie Resources Completes Shares for Debt Settlement
Scottie Resources Announces $2,000,000 Investment By Strategic Investor Eric Sprott
Scottie Resources Intersects 7.44 g/t Gold over 34.78 Metres on Blueberry Vein, Bow Property in the Golden Triangle
Scottie Resources Drills Extension of the Scottie Gold Mine M Zone: 11.72 g/t Gold and 5.83 g/t Silver over 10.95 Metres
Scottie Resources Intersects 73.32 g/t Gold and 71.01 g/t Silver over 4.38 Metres on Bend Vein, Bow Property
Scottie Resources Releases Encouraging Assay Results on Newly Discovered Kingpin And Lone Wolf Showings, Summit Lake Property, British Columbia: Grades up to 26.9 g/t Gold and 884 g/t Silver
Scottie Resources Reports High-Grade Polymetallic Surface Mineralization In Three New Showings on the Summit Lake Property, British Columbia: Grades up to 9.48 g/t Gold and 3510 g/t Silver
Scottie Reports High-Grade Surface Results On Recently Discovered Summit Lake - Domino Zone; Including Samples Up To 536 g/t Au
Scottie Announces Encouraging Results From the Bitter Creek Property
Scottie Resources Completes 2019 Fieldwork and Drilling Program and Provides Project Summary
Scottie Resources Closes Second and Final Tranche Of Private Placement

Great Bear Resources

Great Bear Resources

Great Bear Resources is a Canadian exploration company focused on its 100% owned, royalty-free Dixie gold project located in the prolific Red Lake mining district of Ontario. To date five high-grade gold discoveries have been confirmed along a 2.3km strike within a large-scale 10km target. The system at Dixie has returned multiple high-grade drill intercepts including 16.35m of 26.91 g/t gold and 7.00m of 68.76 g/t gold. Great Bear is fully funded to complete 200,000m of drilling... LEARN MORE

No Internet Connection