Gold''n Futures Reports Amendments to the Option Agreement to Acquire Its Interest in the Hercules Gold Property
VANCOUVER, British Columbia, Sept. 28, 2022 (GLOBE NEWSWIRE) -- GOLD''N FUTURES MINERAL CORP . (CSE: FUTR ) (FSE: G6M), (OTC: GFTRF ) (the "Company" or "Gold''n Futures") is pleased to report that Argonaut Gold Inc. (TSX: AR ) ("Argonaut") and the Company have amended the option agreement (the "Option") respecting the Hercules gold property (the "Property"). Details of the Option prior to these amendments were disseminated in the press release of the Company on October 26, 2020. Under the amended terms of the Option, the Company has restructured and deferred future payments to be made to Argonaut and exploration obligations against the Property. The new schedule for the option payments and the completion dates for the exploration commitments are presented below. Stephen Wilkinson, CEO of Gold''n Futures, commented: "We are very pleased with the more favorable terms in this amendment to the original option agreement. Our team is looking forward to capitalizing on all of our previous work and to beginning on the next stage of developing new gold resources from the Golden Mile high grade zones and the excellent new targets we have discovered." The Amended Option Terms Under the restated terms, Gold''n Futures has the option to acquire, on or before June 30, 2025 an initial 50% Earned Interest (as defined in the Option) in the Property by: (a) paying to Argonaut $3,500,000 of which the Company has paid $1,250,000 in cash (b) by incurring further Exploration Expenditures of $6,500,000 on the Property; and (c) granting …
Gold''n Futures Reports Amendments to the Option Agreement to Acquire Its Interest in the Hercules Gold Property
VANCOUVER, British Columbia, Sept. 28, 2022 (GLOBE NEWSWIRE) -- GOLD''N FUTURES MINERAL CORP . (CSE: FUTR ) (FSE: G6M), (OTC: GFTRF ) (the "Company" or "Gold''n Futures") is pleased to report that Argonaut Gold Inc. (TSX: AR ) ("Argonaut") and the Company have amended the option agreement (the "Option") respecting the Hercules gold property (the "Property"). Details of the Option prior to these amendments were disseminated in the press release of the Company on October 26, 2020. Under the amended terms of the Option, the Company has restructured and deferred future payments to be made to Argonaut and exploration obligations against the Property. The new schedule for the option payments and the completion dates for the exploration commitments are presented below. Stephen Wilkinson, CEO of Gold''n Futures, commented: "We are very pleased with the more favorable terms in this amendment to the original option agreement. Our team is looking forward to capitalizing on all of our previous work and to beginning on the next stage of developing new gold resources from the Golden Mile high grade zones and the excellent new targets we have discovered." The Amended Option Terms Under the restated terms, Gold''n Futures has the option to acquire, on or before June 30, 2025 an initial 50% Earned Interest (as defined in the Option) in the Property by: (a) paying to Argonaut $3,500,000 of which the Company has paid $1,250,000 in cash (b) by incurring further Exploration Expenditures of $6,500,000 on the Property; and (c) granting …