Nine Mile Metals closes New Brunswick claim acquisition

Sep 14, 2023

2023-09-14 08:07 ET – News Release

Mr. Charles MaLette reports

NINE MILE METALS CLOSES ACQUISITION OF ADDITIONAL STRATEGIC CLAIMS ADJACENT TO ITS CALIFORNIA LAKE AND NINE MILE BROOK VMS PROJECTS

Nine Mile Metals Ltd. has acquired the 49 new claim units previously disclosed in the company’s press release dated Sept. 7, 2023. The company has issued a total of 300,000 common shares in exchange for the claims, which are subject to the four-month legend. In addition to the claims, there is a 2-per-cent net smelter return royalty (NSR) on the claims derived from metallic mineral production. The company has the right to purchase 50 per cent of the 2-per-cent NSR from the vendors for $1-million at any time prior to commencement of commercial production. The vendor is at arm’s length from the company.

About Nine Mile Metals Ltd.

Nine Mile Metals is a Canadian public company focused on critical minerals exploration (copper, lead, zinc, silver and gold) in the world-famous Bathurst mining camp, New Brunswick, Canada. The company’s primary business objective is to explore its four volcanogenic massive sulphide projects: Nine Mile Brook; California Lake; Canoe Landing Lake; and Wedge. The company is focused on critical minerals exploration, positioning for the boom in electric-vehicle and green technologies requiring copper, silver, lead and zinc, with a hedge with gold.

We seek Safe Harbor.

https://ninemilemetals.com/