VANCOUVER, BC, Dec. 15, 2021 /CNW/ - Trillium Gold Mines Inc.
(TSXV: TGM) (OTCQX: TGLDF) (FRA: 0702) ("Trillium Gold" or the
"Company") is pleased to announce that it has signed a definitive
agreement (the "Definitive Agreement"), following the previously
announced non-binding Letter of Intent, to acquire all of Infinite
Ore Corp.'s ("Infinite Ore") Eastern Vision property holdings in
the Confederation Lake assemblage of the Birch-Uchi greenstone belt
in the Red Lake Mining District, Ontario. (see news
release of July 19, 2021.)
The property covers 16,991 hectares between the Fredart,
Garnet Lake, Confederation North and
Confederation South properties (see Figure below), giving Trillium
Gold control over a significant portion of the Confederation Lake
assemblage and creating a contiguous land package covering greater
than 100 km of favourable structure on trend with Great Bear
Resources' Dixie Deposit.
The Definitive Agreement provides for the issuance of 4,000,000
common shares in the capital of Trillium Gold including payment of
$175,000 in cash to Infinite Ore. In
addition, the Company assumes all of Infinite Ore's cash payment
commitments under its existing option agreements, while Infinite
Ore retains its share issuance obligations.
The Definitive Agreement is considered a major step in
strengthening Trillium Gold's strategic advantage to consolidate
the greenstone belt and positions it as the most dominant
exploration company in the Red Lake Mining District.
Visit our website at www.trilliumgold.com.
On behalf of the Board of Directors,
Trillium Gold Mines Inc.
Russell Starr, President, CEO and
Director
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a growth focused company engaged in
the business of acquisition, exploration and development of mineral
properties located in the Red Lake Mining District of northwestern
Ontario. The Company has assembled
over 55,000 hectares of lands considered highly prospective for
gold, including the Newman Todd project being advanced towards
open-pit mining, and one of the most extensive property packages in
the Confederation Lake assemblage of the Birch-Uchi greenstone
belt.
In addition, the Company has interests in highly prospective
properties in Larder Lake, Ontario
and the Matagami and Chibougamou
areas of Quebec.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release contains forward-looking information, which
involves known and unknown risks, uncertainties and other factors
that may cause actual events to differ materially from current
expectation. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release. The Company disclaims any intention or
obligation, except to the extent required by law, to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
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SOURCE Trillium Gold Mines Inc.