PR & News
Brookmount Gold Expands North American Interests
Jul 26, 2022
Reno, July 26, 2022. Brookmount Gold Corp, a Nevada incorporated company (OTC BMXI) is pleased to announce that it has reached agreement on the acquisition of an additional property on the Alaska USA side of the Tintina Gold Belt where the Company acquired its Moosehorn property in the Yukon (Canada) last year. Completion of this transaction will represent the first acquisition by Brookmount in the United States and signify an important milestone in the Companys North American investment strategy.
The property comprising approximately 250 HA of high grade Au resource, is situated on McArthur Creek, a significant, gold bearing water course, which is designated as Kenyon Creek in the Yukon part of Tintina, and is effectively adjacent to the Moosehorn property. The McArthur Creek property shares identical topography with Moosehorn, including surface and shallow depth gold, and has previously been successfully mined by the current owner, Errin Kimbal, who joined Brookmounts board as Executive Director immediately following the acquisition of Moosehorn last year. The McArthur Creek property also provides direct access to the Trans Alaska highway, facilitating the movement of heavy excavation and mining equipment back and forth on both the Moosehorn and McArthur Creek properties.
Consideration for the acquisition will involve the issue, to the vendor, of 1 million shares of stock, together with an agreement to reimburse $300k of development expenses incurred by the vendor on the property since 2016, from initial revenue generated from gold sales, with subsequent net revenue to be distributed on a 60/40 basis to The Company and the vendor.
In announcing this transaction, Nils Ollquist CEO commented: I am pleased to be able to confirm to our shareholders and followers that we are moving forward with our development plans for our North American operations with an initial, modest move into the US market. The McArthur Creek property is a natural fit for our Tintina expansion, with near term production potential, and will be very much an integral part of our production strategy moving forward. There are additional opportunities in Tintina and other gold areas in the US that Errin will assist us in identifying over the next 12 months as we consolidate our presence in the North American market, a key component in development of our gold production platform.
Further details and photos of recent progress on the project will be uploaded to the companys website www.brookmountgold.com shortly.
Brookmount currently conducts its gold mining and processing operations in Indonesia through its subsidiary incorporated in Sulawesi Province, Republic of Indonesia, and has recently embarked on an expansion strategy in the North American market.
Safe Harbor Statements:Except for the historical information contained herein, certain of the matters discussed in this communication constitute forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Words such as may, might, will, should, could, anticipate, estimate, expect, predict, project, future, potential, intend, seek to, plan, assume, believe, target, forecast, goal, objective, continue or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding benefits of the proposed license, expected synergies, anticipated future financial and operating performance and results, including estimates of growth. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. For example, the expected timing and likelihood of completion of the pending transaction, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the pending transaction that could reduce anticipated benefits or cause the parties to abandon the transaction, the ability to successfully integrate the businesses, the occurrence of any event, change or other circumstance that could give rise to the termination of the negotiations, the risk that the parties may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the proposed transaction, the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of Brookmounts common stock. All such factors are difficult to predict and are beyond our control. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this report, except as required by applicable law or regulations.
For more information
Brookmount Gold Corp..
bmxicorporate@gmail.com