- MAS Gold Corp. (MAS) and Comstock Metals Ltd. (CSL) have signed a non-binding letter of intent for the Preview SW gold property in La Ronge, Saskatchewan
- MAS Gold will issue 30 million common shares to Comstock for the proposed transaction
- The addition of the Preview SW property is aligned with MAS Gold’s deposits, expanding its mineral asset base in the La Ronge Gold belt
- Comstock will provide additional funding to be spent in Q1 for exploring its Preview SW property prior to the closing
- Comstock Metals Ltd. (CSL) is unchanged trading at $0.085 per share as of 2:00 p.m. EST
- MAS Gold Corp. (MAS) is unchanged trading at $0.095 per share as of 1:57 p.m. EST
MAS Gold Corp. (MAS) and Comstock Metals Ltd. (CSL) have signed a non-binding letter of intent for the Preview SW gold property.
MAS Gold will issue 30 million common shares to Comstock for the proposed transaction.
The addition of the Preview SW property in La Ronge, Saskatchewan is aligned with MAS Gold’s deposits, expanding its mineral asset base in the La Ronge Gold belt.
Comstock will have the right to appoint one director for a minimum of two years.
Comstock will also provide additional funding to be spent in Q1 for exploring its Preview SW property prior to the closing.
A definitive agreement will be signed before January 15, 2022, and closing is anticipated in March 2022.
Jim Engdahl, MAS Gold’s President and CEO, commented,
“Upon completion of the proposed transaction, this high-quality asset combined with MAS Gold’s mineral portfolio, which includes the recently updated North Lake and Greywacke North mineral resources announced December 6, 2021, and December 9, 2021, respectively, MAS Gold will become one of Saskatchewan’s biggest gold developers.”
The Preview SW property and portions of the Preview-North properties are located within the mineral exploration zone of Lac La Ronge provincial park.
Engdahl added,
“Steven Goldman, the President and CEO of Comstock will join MAS Gold; We look forward to working with him.”
MAS Gold Corp. (MAS) is unchanged trading at $0.095 per share as of 1:57 p.m. EST.
Comstock Metals Ltd. (CSL) is unchanged trading at $0.085 per share as of 2:00 p.m. EST.
