VANCOUVER, BC, Nov. 17, 2020 /CNW/ - Eclipse Gold Mining
Corporation ("Eclipse" or the "Company") (TSXV: EGLD)
(USOTC: EGLPF) is pleased to announce that it, together with the
Company's wholly-owned subsidiary, Hercules Gold USA LLC ("Hercules"), has entered into
a binding purchase and sale agreement (the "Purchase
Agreement") with CP Holdings Corporation, a wholly owned
subsidiary of Headwater Gold Inc. (the "Sellers") to acquire
a 100% interest in 83 unpatented lode mining claims situated
internal and adjacent to Eclipse's Hercules Project (the "Mining
Claims") as well as a historical dataset of 88 drillholes, 628
rock samples, 1578 soil samples and other geological data (the
"Dataset").
Subject to TSX Venture approval, Eclipse will acquire an
undivided 100% interest in the Mining Claims and Dataset by:
- Making a one-time payment of US$100,000
- Issuing 500,000 common shares of the Company to the
Sellers
- Granting a net smelter royalty to the Seller that varies
between 1.25% and 2.5% on the Mining Claims (the "NSR")
Eclipse has reserved the right to buy 50% of the NSR, and a
right of first refusal on the remainder.
About Eclipse Gold Mining
Eclipse Gold Mining is exploring the district-scale Hercules
gold property within Nevada's
Walker Lane trend. The Hercules
property is located only a one-hour drive from Reno and appears to have all the
characteristics of a large, low-sulphidation epithermal gold
system. The Company brings together a team with a track record of
nine successful buyouts/exits totaling $4.6
billion.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael G. Allen
President, CEO and Director
TSXV: EGLD | OTC:EGLPF | Frankfurt:43J | ISIN: CA27888R1001 |
WKN: A2PYV4
Cautionary statements
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this release.
View original
content:http://www.prnewswire.com/news-releases/eclipse-further-expands-hercules-gold-project-in-nevadas-walker-lane-trend-301174397.html
SOURCE Eclipse Gold Mining Corporation