- Enduro Metals (ENDR) has completed the earn-in of its option agreement to earn a 100-percent interest on 436 square kilometres of the Newmont Lake Project
- The the 653-square kilometre project is located in northern British Columbia’s Golden Triangle
- The British Columbia-based resource exploration company already owns the remaining 217 square kilometres of the project
- Enduro filed written notice to exercise the Earn-in Option, executed the Net Smelter Return agreement and made a final cash payment of $1,000,000
- Enduro Metals is down 2.27 percent, trading at $0.22 at 9:30 a.m. EST
Enduro Metals (ENDR) has completed the option to acquire a 100-percent interest on 436 square kilometres of the Newmont Lake Project.
The the 653-square kilometre project is located in northern British Columbia’s Golden Triangle.
The British Columbia-based resource exploration company already owns the remaining 217 square kilometres of the project.
Enduro has now completed the final significant milestones required to earn a 100-percent interest in the project. The milestones included delivery of written notice to exercise the Earn-in Option, executing the Net Smelter Return agreement, and making the final payment of $1,000,000.
In 2018, Enduro Metals signed a letter agreement with Romios Gold Resources to acquire the 436 square kilometre land package on the Newmont Lake Project by completing certain earn-in requirements.
“Achieving this major milestone is particularly pleasing given the significant amount and time, resources, and dedication we have put into this project so far. With the Option Agreement now behind us, we can focus on our 2022 exploration program. I’d like to thank our team of professionals and our shareholders for their commitment and support to get this transaction across the line,” said Enduro President and CEO Cole Evans.
Romios will retain a 2 percent net smelter return royalty in addition to any other existing royalties, on the optioned claim package.
Enduro will be report further results from the 2021 field over the coming weeks.
Enduro Metals is down 2.27 percent, trading at $0.22 at 9:30 a.m. EST.
