VANCOUVER, BC / ACCESSSWIRE / November 15, 2022 / (TSXV:AUC)(OTCQB:AUCCF)(Frankfurt:9FY), (the "Company" or "Goldplay"), wishes to announce that it has exercised the put option and sold back the interest earned in the British Columbia Golden Triangle properties (the "Properties") of Scottie Resources Corp (TSXV: SCOT) ("Scottie").
Terms of the Agreement
Pursuant to the initial option agreement, Goldplay acquired a 3.75% interest in the Properties by incurring $1,580,000 in flow through exploration expenses. Subsequent to acquiring the interest in the Properties, Goldplay made the strategic decision to focus the Company's exploration efforts in the near future on its properties located in Portugal, which are seen by the Company as having a higher potential. In order to make cash available for exploration activities in Portugal and other general and administrative expenses, the Company has exercised the put option and sold back the 3.75% interest in the Properties to Scottie for a total of $900,000 that was paid in cash by Scottie to Goldplay.
About Goldplay Mining
Goldplay Mining is a Canadian public company listed on TSXV and in US on OTCQB. Goldplay holds several brownfield gold, and copper-gold projects located in Portugal with near term mining potential.
On behalf of the Board of Directors
"Chris Osterman"
CEO
For further information please contact:
Goldplay Mining Inc.
Mr. Chris Osterman
Suite 650 - 1021 West Hastings Street
Vancouver, BC V6E 0C3
E: [email protected]
www.goldplaymining.ca
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the exploration potential of the Company's properties. Generally forward-looking statements can be identified by the use of terminology such as "anticipate", "will", "expect", "may", "continue", "could", "estimate", "forecast", "plan", "potential" and similar expressions. These forward-looking statements involve risks and uncertainties relating to, among other things, results of future exploration and development activities, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, changes in commodity prices and unanticipated environmental impacts on operations. Although the Company believes current conditions and expected future developments and other factors that have been considered are appropriate and that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct or enduring. Readers are cautioned to not place undue reliance on forward-looking information. The statements in this press release are made as of the date of this release. Except as required by law, the Company does not undertake any obligation to update publicly or to revise any forward-looking statements that are contained or incorporated in this press release. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
Neither the 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.
SOURCE: Goldplay Mining Inc.