TORONTO, April 05, 2024 (GLOBE NEWSWIRE) -- Voyageur Mineral Explorers Corp. ("Voyageur" or the "Company") (CSE: VOY) is pleased to announce that is has entered into an option agreement (the Option) with African Energy Metals Inc. (AEM), whereby AEM may acquire a 100% interest in the Company's Mink Narrows project, located 25km southeast of Flin Flon, Manitoba. Pursuant to the Option, AEM may acquire the 100% interest by fulfilling the following conditions over a period of four years:
- Annual cash payments totaling $55,000 over the five years, including $10,000 upon TSX Venture Exchange approval of the Option;
- Issuing the greater of 1,800,000 common shares of AEM or $300,000 worth of common shares of AEM over four years, including 200,000 common shares upon TSX Venture Exchange approval of the Option;
- Completing exploration expenditures aggregating $1,000,000, including $300,000 in year one; and
- Granting Voyageur a 2% net smelter return (NSR) royalty upon the exercise of the Option.
We are pleased to enter into this option for the Mink Narrows project with African Energy Metals, commented Fraser Laschinger, President and CEO of the Company. We wish them success and look forward to following the advancement of the project, which is highly prospective for a number of critical minerals.
Immediately prior to entering the Option with AEM, Voyageur and Laser Gold Resources Inc. entered into a termination agreement, whereby both parties mutually agreed to terminate the previous option agreement on the Mink Narrows project.
ABOUT VOYAGEUR MINERAL EXPLORERS CORP.
Voyageur is a Canadian junior mineral exploration company with a specific focus on mineral properties in Northwest Manitoba and Northeast Saskatchewan, Canada. The Company owns a valuable package of royalties in the prolific Flin Flon greenstone belt, and has assembled a portfolio of base metal and precious metal prospects in Manitoba and Saskatchewan.
For further information please contact:Fraser LaschingerPresident and CEOVoyageur Mineral Explorers Corp.Tel: (416) 628-5910
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING INFORMATION
This news release contains forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to the Option. Generally, forward-looking information can be identified by the use of forward-looking terminology such as plans, expects, or does not expect, is expected, budget, scheduled, estimates, forecasts, intends, anticipates, or does not anticipate, or believes or variations of such words and phrases or state that certain actions, events or results may, could, would, might, or will be taken, occur, or be achieved. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Voyageur to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Voyageur's public disclosure documents which are available on SEDAR at www.sedar.com. Although Voyageur has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Source: Voyageur Mineral Explorers Corp.