Nexus Gold, Hawkmoon sign JV LOI for Cdn gold project

Aug 23, 2019

2019-08-23 09:47 ET – News Release

Mr. Alex Klenman reports

NEXUS GOLD SIGNS LETTER OF INTENT WITH HAWKMOON RESOURCES TO EVALUATE POTENTIAL JOINT VENTURE OPPORTUNITY OF CANADIAN PROJECT

Nexus Gold Corp. has signed a letter of intent with Hawkmoon Resources Corp. to evaluate an acquisition or potential joint venture for the development of one of the company’s Canadian-based gold projects.

Under the terms of the letter of intent, the company and Hawkmoon intend to evaluate a potential transaction in which Hawkmoon would acquire outright, or acquire an interest in, one of the company’s Canadian gold projects in exchange for financing the continuing development of that project.

The company’s project portfolio in Canada includes a series of five exploration-stage gold projects located in Ontario, British Columbia and Newfoundland. Please see the project section of the Nexus Gold website for details on the company’s current Canadian holdings. Nexus management intends to add project generation as a supplemental component to its current exploration model.

Hawkmoon is a Canadian mining exploration company that is currently focused on the development of the Romeo project, located within the Urban-Barry gold camp in Western Quebec. Hawkmoon is privately held and intends to pursue a going-public transaction in the near future.

“We’re pleased Hawkmoon is serious about potentially taking an interest in one or more of our Canadian projects,” commented Nexus Gold’s president and chief executive officer, Alex Klenman. “We feel adding project generation is a strategically important move for Nexus. This letter of intent with Hawkmoon is a first step in establishing this as a viable addition to the current exploration business model.”

Readers are cautioned that the letter of intent entered into with Hawkmoon does not set forth definitive terms for the potential transaction, nor have such terms been negotiated or finalized. Completion of any transaction with Hawkmoon is subject to a number of conditions, including, but not limited to: satisfactory completion of due diligence; negotiation of definitive agreements in respect of such a transaction; the availability of financing on acceptable terms; and receipt of any required regulatory approvals. A transaction cannot be completed until these conditions are satisfied, and there can be no assurance that a transaction will be completed at all.

About Nexus Gold Corp.

Nexus Gold is a Vancouver-based gold exploration and development company with a portfolio of active projects in West Africa and Canada. The company is concentrating its efforts on establishing a compliant resource at one or more of its four current West African-based projects, which total over 560 square kilometres (over 56,000 hectares) of land located on active gold belts and proven mineralized trends, while also conducting developmental phases on its five 100-per-cent-owned Canadian projects, namely the McKenzie gold project in Red Lake, Ont., the New Pilot project, located in British Columbia’s historic Bridge River mining camp, and three prospective gold-copper projects (3,300 hectares) in the province of Newfoundland.

We seek Safe Harbor.

https://www.nexusgoldcorp.com/