Metals Creek’s has signed a Letter of Intent (LOI) to acquire 10 patented mining claims in Garrison township approximately 35 kilometers north northeast of Kirkland Lake Ontario. These patents are contiguous with Osisko Mining to the west, south and east and Kirkland Lake Gold to the north.
Metals Creek can earn a 100% interest in the patents by making cash payments totaling $310,000 over a period of 4 years following the execution of the LOI. The vendors will retain a 2% NSR which the Company can purchase 1% for $1 million. This agreement is subject to the Company receiving regulatory approval and to a 30 day due diligence period by the company.