Nevada Zinc sold Nevada mineral claims to Minaurum Gold Corp, shareholder approved transaction

From GlobeNewswire: 2025-06-25 19:59:00

Nevada Zinc Corporation has completed the sale of its interest in mineral claims in Eureka County, Nevada to Minaurum Gold Corp. The Property consists of 203 mineral claims, including patented and unpatented claims. Minaurum issued 3,846,893 common shares and paid $100,000 in cash to exercise the option to acquire the Company’s rights in the Property. The Company’s shareholders approved the transaction on February 7, 2025. After the Transaction, the Company’s shares will be transferred to the NEX Board of the TSX Venture Exchange. Additionally, the Company received a secured loan of $173,321.07 from one of its directors, Jim Beqaj, for operational purposes.

The loan bears 10.0% interest per annum and had a maturity date of December 31, 2023, which was extended by mutual agreement. The Company granted a security interest in the Patented Claim to secure the loan, which was relinquished in connection with the Transaction. The TSX Venture Exchange approved the loan and its extension. As a related party transaction, the Loan is considered exempt from formal valuation and minority shareholder approval requirements. Nevada Zinc Corporation is exploring strategic alternatives for enhancing shareholder value.



Read more at GlobeNewswire: Nevada Zinc Completes Sale of Nevada Mineral Claims