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Be the first with the news that moves the market- Gold Lion Resources (GL) has acquired the rights to a property option agreement
- The agreement grants Gold Lion the option to acquire a 100-per-cent interest in 57 mining claims covering 2,950 hectares in the James Bay region of Quebec
- Historical work by Main Exploration Company Ltd. in 1959 (GM10200) reported several spodumene-bearing pegmatites on the Mia Li-1 & 2 projects
- Gold Lion Resources Inc. is a mineral exploration company with operations in the US and Canada
- Gold Lion Resources Inc. opened trading at C$0.085
Gold Lion Resources (GL) has acquired the rights to a property option agreement.
Dated December 18, 2022, the agreement grants Gold Lion the option to acquire a 100-per-cent interest in 57 mining claims covering approximately 2,950 hectares in the James Bay region of Quebec.
The Mia Li-3 Lithium Project, which is located approximately 15 km northwest of Q2 Metals Corp.’s Mia Li-1 and Mia Li-2 projects, is also directly adjacent to the ground newly acquired by Q2.
The project presents a favourable opportunity for the exploration of the same trend.
Historical work by Main Exploration Company Ltd. in 1959 (GM10200) reported several spodumene-bearing pegmatites on the Mia Li-1 & 2 projects.
Gold Lion acquired the rights to the option agreement under a share exchange agreement (SEA) dated February 1, 2023, involving Gold Lion, 1391740 B.C. Ltd. (139 BC) and the shareholders of 139 BC.
Under the SEA, Gold Lion acquired all of the issued and outstanding shares of 139 BC from the 139 BC shareholders.
As consideration under the SEA, Gold Lion has made an initial aggregate cash payment of $50,000 to the 139 BC shareholders and has issued a total of 10,000,000 common shares of Gold Lion at a deemed price of $0.0675 per share.
The company is required to make an additional cash payment of $50,000 to the 139 BC shareholders on or before March 6, 2023.
Gold Lion Resources Inc. is a mineral exploration company actively involved in the exploration of its precious metal-focused portfolio, including the Cuteye and Fairview Properties located in Idaho and British Columbia.
Gold Lion Resources Inc. opened trading at C$0.085.
