Marathon Gold Announces Purchase of Net Income Interest Fees at Valentine’s Gold Project in Canadian Business Journal

Toronto, March 14, 2022 (GLOBE NEWSWIRE) — Marathon Gold Corporation (“Marathon” or “Company”; TSX: MOZ) We are pleased to inform you that you have purchased the past 7.5% net income interest royalties for cancellation.NPI loyalty”) Our Valentine Gold project in central Newfoundland covers a specific mineral resource area (“plan“).

In return for NPI royalties, the marathon is Reid Newfoundland Company Limited (“”Lead”), Private third party vendor. The marathon will give the lead an additional $ 3 million in cash consideration upon the official release of the project from the applicable state and federal environmental assessment process, including the receipt of final ministerial or cabinet approval as required. I agreed to pay. We have confirmed that the requirements of each state and federal environmental assessment process have been met and that the project may proceed to permit construction of mines depending on the conditions.

Matt Manson, President and Chief Executive Officer, commented: “The NPI loyalty purchased today is related to a specific property of the Valentine Gold Project called” Lead Lot “. These assets were first granted to Lead Newfoundland Company Limited at the beginning of the last century in connection with the development of the Newfoundland Railway. NPI royalties were originally booked in 1905 and modified in 1948 to provide 7.5% net profit interest royalties for all minerals, but are still part of the leprechaun and sprite deposits and berry deposits. Applies to the region. Obtaining NPI royalties for cancellation is another important milestone in advancing the Valentine Gold project towards construction decisions and welcomes the lead as a shareholder of the marathon. “

About the marathon

Marathon (TSX: MOZ) is a Toronto-based gold company promoting a 100% owned Valentine Gold project in the central region of Newfoundland and Labrador. It is one of the world’s leading mining jurisdictions. The project consists of a series of five mineral deposits along a 20 km system. A feasibility study in April 2021 provided an overview of open pit mining and traditional milling operations over a 13-year mine life, with a rate of return after tax of 31.5%. The project estimated proven mineral reserves of 1.40 Moz (29.68 Mt at 1.46 g / t) and estimated mineral reserves of 0.65 Moz (17.38 Mt at 1.17 g / t). The total measured mineral resources (including mineral reserves) consisted of 1.92 Moz (32.59 Mt at 1.83 g / t) and the indicated mineral resources (including mineral reserves) were 1.22 Moz (1.57 g / t). It is 24.07Mt). An additional estimated mineral resource is 1.64 Moz (1.72 g / tAu 29.59 Mt). For more information and prerequisites for the Valentine Gold Project, please refer to the Marathon Annual Information Form for the year ended December 31, 2020 and other filings filed with Canadian Securities Regulators.

For more information, please contact:
Matt Manson
President and CEO
Tel: 416 987-0711
Amanda Mallow
Senior Associate, Investor Relations
Tel: 416 855-8202

For more information on MarathonGold Corporation and ValentineGoldProject, please visit

Precautions regarding future prospects

The specific information contained in this news release constitutes information about the future outlook in the sense of Canadian securities law (“Forecast Statement”). All statements in this news release are forward-looking statements, except for historical facts that address the events, consequences, consequences, or developments that the marathon is expected to occur. Forward-looking statements may be inherently predictive, dependent on or referring to future events or circumstances, or “expect,” “expect,” “plan,” “believe,” or “estimate.” Includes words such as “to do” and “to consider”. , “Intends”, “targets”, or their negative versions and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would”, “could”. We provide forward-looking statements for the purpose of communicating information about our current expectations and future plans. Readers should be aware that such statements may not be suitable for other purposes.

Forward-looking statements include known and unknown risks, uncertainties, and assumptions, so actual results and future events may differ materially from those expressed or implied in such statements. There is a possibility. Therefore, be careful not to overly rely on forward-looking statements. Mineral resources classified as “estimated” or “labeled” have great uncertainties regarding their existence and their economic and legal feasibility. It is not possible to assume that some or part of the “designated mineral resources” or “estimated mineral resources” will be upgraded to higher categories of mineral resources. Investors should be careful not to assume that all or part of these categories of deposits will be converted to potentially proven mineral reserves.

By its nature, this information may be general or specific, expectations, predictions, predictions, predictions or conclusions may not prove accurate, assumptions may be incorrect, and Its objectives, strategic goals and priorities will not be achieved. Factors that may cause future results or events to differ materially from current expectations expressed or implied by forward-looking statements include drill results interpretation, geology, deposit grade and continuity, and economic assessment. Includes risks and uncertainties associated with conclusions. Uncertainty regarding the estimation of mineral resources. Inaccurate geological and metallurgical assumptions (including those relating to the size, grade, and recoverability of mineral resources); potential delays or changes in exploration or development projects or plans for capital spending, or logistic, Completion of feasibility study due to changes in technology or other factors. Future exploration, development, construction or mining results may not meet our expectations. Risks associated with the ability of current exploration programs to identify and expand mineral resources. Risks associated with possible grade variations, planned mining dilution and ore loss, or changes in recovery and project parameters due to continued refinement of the plan. Risks of operational mining and development, including risks associated with accidents, equipment failures, labor disputes (including work outages and strikes), or other unexpected difficulties or interruptions in exploration and development. Uncertainties inherent in production and cost estimates, and risks associated with unexpected costs and potential costs. Risks associated with commodity and electricity prices, exchange rate fluctuations and interest rate fluctuations. Uncertainty in profitability based on the periodic nature of the mining industry. Risks associated with the inability to raise appropriate funds in a timely manner and the approval of the government or other stakeholders, or the conditions or delays that allow the completion of development or construction activities. Risks associated with environmental regulations and responsibilities, government regulations and permits. Risks associated with our ability to attract and retain skilled staff. Risks associated with the timing of regulatory and government approval receipts for ongoing business and future development projects. Political and regulatory risks associated with mining and exploration. Risks associated with the potential impact of the COVID-19 pandemic on the company and the mining industry. Changes in general economic or financial market conditions. Other risks described in marathon documents filed with Canadian securities regulators, including the annual information form for the year ended December 31, 2020.

Details on these and other risks can be found in the revised and revised annual information form for the marathon for the year ended December 31, 2020 and other filings filed with Canadian securities regulators. increase. Unless otherwise required by law, Marathon may make forward-looking statements to reflect events or circumstances after the date on which such statements were made, or as a result of new information. Regardless, we shall not be obliged to update to reflect the occurrence of an unexpected event. , Otherwise future events or results.

CBJ News Maker

Marathon Gold Announces Purchase of Net Income Interest Fees at Valentine’s Gold Project in Canadian Business Journal

Source link Marathon Gold Announces Purchase of Net Income Interest Fees at Valentine’s Gold Project in Canadian Business Journal

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