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GoldSpot - Executive Chairman and President, Denis Laviolette
Executive Chairman and President, Denis Laviolette
Source: Goldspot Discoveries
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  • Goldspot Discoveries Corp. (SPOT) has been approached by Yorkton Ventures Inc. (YVI) to assist in Yorkton’s exploration projects in central Newfoundland
  • Goldspot has also been granted an option to acquire a 0.5 per cent net smelter return royalty (NSR) on licenses for the Parkview project and Knights-Melange project for $2 million
  • Payments due on the execution of the NSR options given to Goldspot will be paid to the original registered owners of the properties purchased by Yorkton
  • Yorkton Ventures Inc. (YVI) is up 6 per cent and is trading at $0.39 per share at 11:55 a.m. ET
  • Goldspot Discoveries Inc. (SPOT) is down 1 per cent and is trading at $0.98 per share at 11:54 a.m. ET.

Goldspot Discoveries Corp. (SPOT) announced it has been approached by Yorkton Ventures Inc. (YVI) to assist with its exploration projects in central Newfoundland.

Andrew Lee Smith, CEO of Yorkton, commented that he is pleased about the engagement between the two companies.

“Goldspot’s proven success and proprietary machine learning exploration techniques will greatly enhance our exploration efforts and further develop our geological model,” he said.

Denis Laviolette, executive chairman and president of Goldspot, stated he is ‘thrilled’ to leverage the company’s position in Newfoundland and to add Yorkton to its clientele.

“Our work so far in the province has yielded incredible success and we are confident that our leading team of geoscientists and data scientists will maximize the chances of discovery at Yorkton’s Newfoundland properties using our proprietary machine learning technology,” he said.

Goldspot has also been granted an option to acquire 0.5 per cent net smelter return royalty (NSR) on licenses for the Parkview project and Knights-Melange project for $2 million.

Payments due on the execution of the NSR options given to Goldspot will be paid to the original registered owners of the properties purchased by Yorkton.

It refers to the earn-in agreement Yorkton entered in July stating that it may earn a 100 per cent interest in the 450-hectare Parkview claims and in the 5575-hectare Knights-Melange claims.

Yorkton Ventures Inc. (YVI) is up 6 per cent and is trading at $0.39 per share at 11:55 a.m. ET.

Goldspot Discoveries Inc. (SPOT) is down 1 per cent and is trading at $0.98 per share at 11:54 a.m. ET.

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