GFG Resources sells Rattlesnake Hills Gold Project to Patriot Gold Vault for $3.3 million

From GlobeNewswire: 2024-12-16 18:00:00

GFG Resources Inc. has completed the sale of its Rattlesnake Hills Gold Project to Patriot Gold Vault Ltd., a subsidiary of Axcap Ventures Inc., for approximately C$3.3 million. The transaction includes cash payments, equity stakes, and future exploration success opportunities. Patriot will also assume environmental liability for the project and reimburse GFG for costs incurred. GFG Resources Inc. focuses on gold projects in Timmins, Ontario, Canada, with similar geological settings to the prolific Timmins Gold Camp. The company aims to maximize shareholder value through strategic transactions and aggressive exploration programs.



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