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Renforth optionee completes due diligence at Denain

May 15, 2018

2018-05-14 11:36 ET – News Release

Ms. Nicole Brewster reports

POSITIVE COMPLETION OF DUE DILIGENCE BY CHALICE GOLD MINES LIMITED

Chalice Gold Mines Ltd. has completed its due diligence and has elected to proceed with the option on Renforth Resources Inc.’s Denain-Pershing property, as previously announced. Pursuant to the option agreement, a $50,000 payment has been made to Renforth. Subject to the parties agreeing terms, Chalice is expected to participate in Renforth’s next financing in the amount of $250,000, which is anticipated to close prior to May 31, 2018.

In order to earn an 80-per-cent interest in the Denain-Pershing property, over a three-year period Chalice must make payments to Renforth totalling $200,000 and spend $1.25-million in work on the property. Once Chalice has earned its 80-per-cent interest, an 80/20 joint venture will be formed between Chalice and Renforth.

We seek Safe Harbor.

http://renforthresources.com/news-releases/