Optimum Ventures Ltd. Announces Execution of Definitive Agreement to Acquire Alaska Mineral Claims, Canadian Business Journal

VANCOUVER, British Columbia, November 25, 2022 (GLOBE NEWSWIRE) — Optimum Ventures Ltd. (“Optimum”) or “Company”) (TSXV:OPV), We would like to inform you that we have entered into a share exchange agreement on November 24, 2022.agreement”) 1309762 BC Ltd. (“vendor”), a privately held company incorporated under the laws of the Province of British Columbia, under which the Company will acquire all of its outstanding common stock from Vendor shareholders in exchange for 3,000,000 shares of its common stock. (“optimal share”) subject to the terms set forth in this Agreement (“transaction”) and TSX Venture Exchange approval (“TSXV”).

Bender owns 19 contiguous concessions that form the Salmon Property covering approximately 208 hectares in the Hyder Mining District, located in Southeast Alaska, along the Panhandle just east of the Salmon River. The property is conveniently located near infrastructure such as all-weather roads, towns, power lines, and tidal docks. As of May 31, 2022, Bender said he had $319,000 in cash.

Optimum Chairman and Director Andrew Bowering said: Existing Harry property.

Under the terms of this Agreement, Vendor’s shareholders will exchange to us all of Vendor’s issued and outstanding shares in exchange for 3,000,000 Optimum Shares at a discounted market value deemed value (such term shall be TSXV Corporate defined in). financial manual) per optimal share. Closing of the transaction is subject to a number of conditions, including acceptance of TSXV and completion of a technical report prepared in compliance with National Instrument 43-101 – Mineral Project Disclosure StandardsThe transaction is an arm’s length transaction for purposes of TSXV’s policy and the Company believes that the transaction meets the criteria for a “preferred acquisition” under Policy 5.3 – Acquisition and Disposal of Non-Cash Assets of the Corporate Finance Manual. I hope that. 1330841 BC Ltd. (“finder”) Upon identifying and introducing a vendor’s outstanding and outstanding shares to the Company, the Company will pay the Arm’s Length Finder a finder fee of 150,000 shares of Optimum common stock. I agree (“finder share”) will be sent to Finder subject to TSXV approval. Optimum Shares and Finder’s Shares issueable in connection with the transaction are subject, upon closing, to a statutory holding period of four months from the closing date plus his one-day holding period.

qualified person

Mr. Edward Kruchkowski P.Geo, a member of our Board of Directors and registered in British Columbia, is a “qualified person” under National Instrument 43-101 and is responsible for the technical content of this news release. and has authorized the disclosure of the technical information contained herein.

About optimal

Optimum is a Canadian-based mineral exploration company that actively seeks opportunities in the resources sector. All of its assets and projects are located in British Columbia, extending from the Golden Triangle area of ​​northern British Columbia to Alaska. The company has an option agreement with Teuton Resources Corp. Teuton has agreed to grant his Optimum an option to acquire up to 80% of Harry’s ownership interest near Stewart, British Columbia.

NEITHER TSXV NOR ITS REGULATORY SERVICE PROVIDERS (TERMS AS DEFINED IN THE TSXV POLICIES) ASSUME ANY RESPONSIBILITY FOR THE SUITABILITY OR ACCURACY OF THIS RELEASE.

Forward-Looking Statements

This release contains certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of our management regarding future events. In general, forward-looking statements and information refer to the use of forward-looking terms such as “intends” or “anticipates” or variations of such words or phrases or that certain actions, events or results may occur. It can be identified by the use of the statement “may be”. “could”, “should”, “could”, or “occur”. Forward-looking statements include, but are not limited to, the completion of the transaction as proposed or obtaining TSXV’s consent to the transaction, but there is no assurance that the transaction will be completed as planned or not at all. Please note that all forward-looking statements are inherently uncertain and our actual results may be affected by a number of important factors, many of which are beyond our control. Such factors include, among others: Risks and uncertainties associated with Optimum’s ability to complete all required payments and expenditures under the Mineral Asset Acquisition Agreement. other risks and uncertainties related to the actual results of current exploration activities, uncertainties in reserves and resource estimates; Uncertainties in estimates and forecasts regarding production, costs and expenses. Deposit grade and continuity risks. the possibility that future exploration, development or mining results will not match the expectations of adjacent properties and our company; operational risks and hazards inherent in mining operations (including environmental accidents and hazards, industrial accidents, equipment failures, abnormal or unexpected geological or structural formations, cave-ins, floods, severe weather); variability; environmental and regulatory requirements; availability of permits, inability to convert inferred mineral resources into reserves, inability to complete feasibility studies to recommend production decisions, provisional nature of metallurgical test results , fluctuating gold prices, potential equipment failures and delays, exploration cost overruns, availability of capital and financing, general economic and political risks, market or business conditions, regulatory changes, government or The timeliness of regulatory approvals, and other risks associated with the mineral exploration and development industry, and those risks are the responsibility of the Company with securities regulators. Although we believe that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, such information applies only as of the date of this news release. undue reliance should not be placed on and no warranty is given. Such events are assumed to occur within the disclosed time or not at all. We expressly disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. .

This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”) or state securities laws. Registered under the securities laws of the United States and applicable state securities laws or an exemption from such registration is available.

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