Crystal Lake amends deals for four Ontario properties

Oct 5, 2017

2017-10-05 09:53 ET – News Release

Mr. Alphonse Ruggiero reports

PROPERTY ACQUISITIONS FINALIZED

Pursuant to a right of first refusal, Crystal Lake Mining Corp. has entered into an amended purchase agreement dated Jan. 20, 2017, with Emerald Lake Development Corp. (ELD).

The Company will acquire a One Hundred (100%) percent interest in the mineral rights hosted by the properties known as Property #1 Property #5, Property #7 and Property #8, located near Emo, Ontario.

The 4 separate prospective claim blocks have similar geological characteristics to the EL1 and EL5 property blocks which the Company currently holds under option, targeting Ni, Cu, Co, PGM’s and massive sulphides.

In addition, after further due diligence the Company has exercised its option and entered into an agreement to also acquire Property #2 and Property #4 (see press release dated September 30, 2016), also located near Emo.

In order to complete the acquisition of the 6 separate and highly prospective claim blocks, the Company will issue a total of 10,500,000 common shares to ELDC for a 100% interest in the properties. ELDC has agreed to an 18 month voluntary hold period on the issued shares.

The company shall also pay to ELDC the sum of CDN$50,000 upon closing of its next majority equity financing. An amended royalty of 2% of net smelter returns shall be payable to ELD upon the commencement of commercial production from any of the noted properties – 1% may be purchased $1 million dollars. This acquisition remains subject to TSXV approval.

About the Company

Crystal Lake Mining Corporation is a mineral exploration/Development company focused on creating value through the exploration and development of its British Columbia and Ontario mineral properties.

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