GoldMining Inc. (TSXV:GOLD) announced that, further to its news release dated April 26, 2018, the company has completed its indirect acquisition of the Narrow Lake property. The property includes the N1 and N2 claims, which cover a total area of 618 hectares and are contiguous with the southern boundary of the company’s Nicholas Lake-Ormsby property, one of the four properties that comprise the Yellowknife Gold project (YGP), which the company acquired in July 2017. With the acquisition of the property, the YGP now has an expanded total area of 12,120 hectares.
As quoted in the press release:
Pursuant to the Agreement, GoldMining paid US$50,000 in cash and issued 33,333 common shares of the company to the vendor in consideration for the property. An additional US$100,000, payable in cash or common shares of the company, at the company’s discretion, will be due on the first anniversary of the closing date.
GoldMining granted the vendor a 1 percent net smelter royalty with respect to the N1 and N2 claims upon commercial production.
Click here to read the full GoldMining Inc. (TSXV:GOLD) press release.
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