MONTRA�AL, QUEBEC – KHALKOS EXPLORATION INC. (“Khalkos”) (TSX VENTURE: KAS) Khalkos announces the signature of two agreements to acquire 100% of two properties contiguous to the Malartic property. The completion of these acquisitions is subject to approval by the TSX Venture Exchange.
Khalkos entered into a first agreement to acquire 100% of the Cadillac property. In return, Khalkos will have to issue 100,000 common shares and pay an amount of $ 5,000 in cash. The vendor will retain a 1% NSR royalty, half of which may be redeemed for $ 500,000. The Cadillac property is contiguous to the Malartic property and consists of two claims covering an area of 84 hectares in Cadillac Township. These two strategic claims are adjacent to those recently acquired by Globex Mining Enterprises (see press release dated April 25, 2017) and are located in the immediate extension of the Sediment area.
Khalkos also entered into a second agreement to acquire 100% of four claims in Malartic Township. In exchange, Khalkos will have to issue 100,000 common shares. The vendor will retain a 1% NSR royalty, half of which may be redeemed for $ 500,000. The four claims acquired are contiguous to the Malartic property (north-central) and represent an area of 166 hectares.
The common shares to be issued will be subject to a holding period of 4 months and 1 day. These acquisitions allow Khalkos to consolidate its strategic position in the Malartic mining camp. Following acquisitions, Khalkos will 100% control 89 contiguous claims in one of Canada’s most active gold mining camps.
“In less than three years, Khalkos has established himself as a major player in the world-class mining camp of Malartic,” said Khalkos President Robert Gagnon. Khalkos’ vision and strategy have resulted in 89 contiguous mining claims on one of the most favorable geological structures in Canada. “
This press release was prepared by Robert Gagnon, Geologist, Chairman of Khalkos, Qualified Person under National Instrument 43-101.
Source: Exploration Khalkos inc.