Metals Creek Resources Receives Final $20,000 Option Payment from Anaconda Mining for Tilt Cove Option
Toronto, August 7, 2020 - Metals Creek Resources Corp. (TSXV: MEK) (OTC: MCREF) (Metals Creek or the "Company") is pleased to announce that the company has received the final $20,000 option payment for the Tilt Cove option from Anaconda Mining Inc. on the 6th August, 2020.
Under the revised terms of the Tilt Cove Agreement, to maintain the Option with respect to the Licenses in full force, ANX shall pay to MEK the following amounts:
- on the Effective Date (November 7, 2016) - $20,000 in cash by wire transfer and 50,000 Consideration Shares (see definition below); (Paid)
- on the first anniversary of the Effective Date - $40,000 in cash by wire transfer and 100,000 Consideration Shares; (Paid)
- on the second anniversary of the Effective Date - $60,000 in cash by wire transfer and 150,000 Consideration Shares; (Paid)
- On the third anniversary of the Effective Date - $20,000 in cash and 100,000 Consideration Shares; (Paid)
- On or before February 6, 2020 - $20,000 in cash; (Paid)
- On or before May 6, 2020 - $20,000 in cash; and (Paid)
- On or before August 6, 2020 - $20,000 in cash. (Paid)
Anaconda has now earned a 100% interest in the Tilt Cove Property and Metals Creek will retain a 1 % Net Smelter Return (NSR) Royalty.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont Corporation, where Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Metals Creek also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Company's website. Parties interested in seeking more information about properties available for option can contact the Company at the number below.
Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at www.sedar.com.
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.
Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp.
telephone: (709)-256-6060
fax: (709)-256-6061
email: astares@metalscreek.com
www.MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61283
