VANCOUVER, BC / ACCESSWIRE / June 11, 2024 / GOLD HUNTER RESOURCES INC. (CSE:HUNT)(OTC PINK:GHREF) (the “Company” or “Gold Hunter”), a Canadian exploration company focused on the acquisition, exploration, and development of precious & base metal projects, is pleased to announce that it has completed the acquisition of an option (the “Option”) to earn a 100% undivided interest in the Great Northern and Viking Projects (the “Projects”), located in the province of Newfoundland and Labrador, pursuant to the previously announced option agreement with Magna Terra Minerals Inc. (“Magna Terra”) (TSX-V:MTT)(OTC PINK:BRIOF), dated May 28th, 2024, as amended on June 10th, 2024 (the “Option Agreement”).
Gold Hunter Expands its Project Portfolio
Pursuant to the Option Agreement, Gold Hunter acquired the Option by issuing 7,042,253 common shares (each, a “Share”) in the capital of the Company at a deemed price per Share of $0.142 and making a cash payment of $300,000 to Magna Terra. The Option expires on June 10th, 2026 and the next payment deadline to maintain the Option in good standing is June 10th, 2025, at which time Gold Hunter will need to issue Shares with an aggregate value of $2,750,000 and make a cash payment of $450,000 to Magna Terra. The amendment entered into on June 10th, 2024 clarified that the calculation of the deemed price per Share of the first issuance would be adjusted to exclude trading days before May 2nd, 2024. The Projects will remain subject to certain existing royalties on the licenses that comprise the property.
Acquisition of Additional Mineral Claims
Concurrently with acquiring the Option, Gold Hunter completed the acquisition of 195 additional mineral claims surrounding and adjoining the Projects through a series of mineral property purchase agreements with four different vendors. This consolidation of mineral claims enhances the Company’s exploration potential and geographic footprint.
Acquisition of Long Range Exploration Corporation
Gold Hunter also completed the acquisition of Long Range Exploration Corporation, further expanding its asset base and expertise in the mineral exploration sector. This strategic acquisition strengthens Gold Hunter’s position in the Newfoundland and Labrador region.
Insights on the Great Northern and Viking Projects
The Great Northern and Viking Projects are strategically located along a geological fault known to host gold occurrences, indicating significant exploration potential. The presence of multiple mineralized trends and proven gold mineralization showcases the projects’ viability for future development.
Appointment of Key Board Members
In alignment with the Company’s growth strategy and recent acquisitions, Gold Hunter appointed Darrell Brown and Lew Lawrick to its board of directors. The addition of these industry experts brings valuable experience and leadership to the Company’s management team.
Positive Outlook for Gold Exploration
With strong support from strategic partners and experienced professionals, Gold Hunter is well-positioned to explore and develop its mineral projects. The Company’s emphasis on consolidation and exploration highlights its commitment to unlocking the full potential of its assets.
VANCOUVER, BC / ACCESSWIRE / June 11, 2024 / GOLD HUNTER RESOURCES INC. (CSE:HUNT)(OTC PINK:GHREF) (the “Company” or “Gold Hunter”), a Canadian exploration company focused on the acquisition, exploration, and development of precious & base metal projects, is pleased to announce that it has completed the acquisition of an option (the “Option”) to earn a 100% undivided interest in the Great Northern and Viking Projects (the “Projects”), located in the province of Newfoundland and Labrador, pursuant to the previously announced option agreement with Magna Terra Minerals Inc. (“Magna Terra”) (TSX-V:MTT)(OTC PINK:BRIOF), dated May 28th, 2024, as amended on June 10th, 2024 (the “Option Agreement”).
Gold Hunter Expands its Project Portfolio
Pursuant to the Option Agreement, Gold Hunter acquired the Option by issuing 7,042,253 common shares (each, a “Share”) in the capital of the Company at a deemed price per Share of $0.142 and making a cash payment of $300,000 to Magna Terra. The Option expires on June 10th, 2026 and the next payment deadline to maintain the Option in good standing is June 10th, 2025, at which time Gold Hunter will need to issue Shares with an aggregate value of $2,750,000 and make a cash payment of $450,000 to Magna Terra. The amendment entered into on June 10th, 2024 clarified that the calculation of the deemed price per Share of the first issuance would be adjusted to exclude trading days before May 2nd, 2024. The Projects will remain subject to certain existing royalties on the licenses that comprise the property.
Acquisition of Additional Mineral Claims
Concurrently with acquiring the Option, Gold Hunter completed the acquisition of 195 additional mineral claims surrounding and adjoining the Projects through a series of mineral property purchase agreements with four different vendors. This consolidation of mineral claims enhances the Company’s exploration potential and geographic footprint.
Acquisition of Long Range Exploration Corporation
Gold Hunter also completed the acquisition of Long Range Exploration Corporation, further expanding its asset base and expertise in the mineral exploration sector. This strategic acquisition strengthens Gold Hunter’s position in the Newfoundland and Labrador region.
Insights on the Great Northern and Viking Projects
The Great Northern and Viking Projects are strategically located along a geological fault known to host gold occurrences, indicating significant exploration potential. The presence of multiple mineralized trends and proven gold mineralization showcases the projects’ viability for future development.
Appointment of Key Board Members
In alignment with the Company’s growth strategy and recent acquisitions, Gold Hunter appointed Darrell Brown and Lew Lawrick to its board of directors. The addition of these industry experts brings valuable experience and leadership to the Company’s management team.
Positive Outlook for Gold Exploration
With strong support from strategic partners and experienced professionals, Gold Hunter is well-positioned to explore and develop its mineral projects. The Company’s emphasis on consolidation and exploration highlights its commitment to unlocking the full potential of its assets.
