Origen Makes Strategic Investment in Exploits Gold Corp.
Vancouver, June 11, 2020 - Origen Resources Inc. (CSE: ORGN) (the "Company" or "Origen") is pleased to announce that it has entered into a strategic investment agreement with Exploits Gold Corp. ("Exploits"). Exploits is a private exploration company engaged in exploring for district scale high-grade gold deposits in the Central Newfoundland Gold Belt. Recent discoveries in the Central Newfoundland Gold Belt include New Found Gold Corp.'s Queensway discovery and this investment by Origen provides it exposure to an emerging gold district.
About Exploits
Exploits currently holds a 100% interest in two projects totalling 167 km2 that host similar geological, geochemical, and structural settings to the adjacent Queensway discovery. The lack of modern exploration on the properties presents an opportunity for significant new discoveries in this emerging gold district.
The Transaction
Origen has been granted an exclusive one year right of first refusal to acquire any of the new projects generated by Exploits in exchange for a $100,000 private placement into Exploits at a price of $0.15 per share. Exploits anticipates listing on a Canadian stock exchange later this year. The transaction is deemed to be a non-arm's length transaction as Michael Collins, a Director of Origen is also an Officer and Director of Exploits.
"We are pleased and excited to make a strategic investment in an active and emerging gold district highlighted by the recent success of New Found Gold. This investment compliments the Company's project generation business model by providing it access to additional opportunities throughout the district," states Blake Morgan, Company President.
About Origen
Origen is an exploration company engaged in generating, acquiring and advancing base and precious metal properties. The Company currently holds a property portfolio of four 100% owned precious and base metal projects in southern British Columbia and recently acquired a 100% interest in the 26,771 ha LGM project and an option to acquire a 100% interest in the 3,971 ha Wishbone property in the mineral rich Golden Triangle of British Columbia.
On behalf of Origen,
Blake Morgan
President
For further information, please contact Blake Morgan, President at 236-878-4938 or Gary Schellenberg, CEO at 604-681-0221.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/57722
