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Gold’n Futures Reports Amendment to Option Agreement to Acquire Interest in Hercules Gold Property, The Canadian Business Journal

VANCOUVER, British Columbia, September 28, 2022 (GLOBE NEWSWIRE) — Golden Futures Minerals Corp(CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (“we” or “Gold’n Futures”) is Argonaut Gold Inc. (TSX: AR) (“Argonaut”) and the company is Hercules Amended Option Agreement (“Option”) with respect to Gold Property (“Property”). Details of these pre-amendment options were disseminated in the company’s October 26, 2020 press release. Under the amended terms of the option, the company has restructured and deferred future payments due to Argonaut and exploration obligations on the property. The new schedule for option payments and completion dates for Exploration Commitments are as follows:

Gold’n Futures CEO Stephen Wilkinson commented: Our team looks forward to leveraging all the work to date and embarking on the next phase of developing new gold resources from the Golden Mile’s high-grade zones and the excellent new targets we have discovered. “

Modified option condition

Under the restated terms, Gold’n Futures has the option to acquire initial 50% vested interest (as defined in the Options) on the assets through June 30, 2025, in the following ways: The Company paid $1,250,000 in cash (b) by incurring an additional $6,500,000 in exploration costs for the property; (c) granting a 1 percent royalty on the following schedule.

(a) We will make the following cash option payments to Argonaut:

(i) $400,000 due by April 1, 2023;

(ii) $600,000 due by September 1, 2023;

(iii) $500,000 due by January 31, 2024;When

(iv) $750,000 due by June 30, 2024;

All payments shall be made in cash or, at Argonaut’s sole discretion, in shares of common stock of Gold’n Futures, and the number of shares of common stock may be Equal to the value divided by VWAP. payment;

(b) The Company will incur or fund investigation costs totaling $6,500,000 or more for the property. The amounts are as follows:

(i) $1,500,000 must be accrued or funded by June 30, 2023;

(ii) $2,000,000 must be accrued or funded by June 30, 2024;When

(iii) $3,000,000 must be accrued or funded by June 30, 2025; “

Subject to Gold’n Futures exercising the first option, Argonaut also granted the company a second option to increase the interest earned on the property by taking an additional 40% of the interest earned on the property, by paying Argonaut , let its total earned interest be 90%. (a) an additional sum of $5,000,000 or, at Argonaut’s sole discretion, Gold’n Futures common stock; and (b) an NI43-101 compliant pre-feasibility study by 31 December 2027. Year.

qualified person

The scientific and technical content of this press release was prepared, reviewed and approved by Mr. Walter Hanych, P. Geo.

About Goldon Futures Minerals Corporation

Gold’n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M) (OTC: GFTRF) is a Canadian-based exploration company focused on advancing the Hercules gold project. Hercules is located in the towns of Elmhurst and Rickaby within the Thunder Bay North Mining District, 200 kilometers northeast of Thunder Bay, Ontario. The project is located in the heart of the Beardmore–Geraldton gold mining camp,th Ontario’s largest gold camp, located 40 kilometers west of the Hard Rock Greenstone goldfields. The property consists of 475 contiguous claim cells (10,052 hectares). From the historical work completed on the property, the company has built an extensive database containing reconnaissance grab samples. channel samples; various geophysical surveys; and a drill hole database containing some 570 historical drillings. The Hercules Gold Zone provides a top tier target for expansion of its historic resources with surface grab samples up to 10,374 g/t and channel samples up to 32.96 g/t at 11.6 m.

For more information, please visit our website www.goldnfuturesmineralcorp.com.

On behalf of the Board of Directors
For more information

Stephen Wilkinson
Representative Director and President
(236) 886-8808

The Canadian Stock Exchange makes no representations as to the adequacy or accuracy of this release.

This news release may contain forward-looking statements that are based on management’s assumptions and judgments regarding future events or results. Such statements are subject to various risks and uncertainties that could cause actual events or results to differ materially from those reflected in the forward-looking statements.There is no guarantee for private placements and properties Any of the above options, board changes or resumption of trading will be terminated on the terms stated or terminated at all. We disclaim any intention or obligation to modify or update such statements.


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Gold’n Futures Reports Amendment to Option Agreement to Acquire Interest in Hercules Gold Property, The Canadian Business Journal

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