Nevada Zinc Completes Sale of Nevada Mineral Claims

Nevada Zinc Completes Sale of Nevada Mineral Claims

Benzinga
June 25, 2025

TORONTO, June 25, 2025 (GLOBE NEWSWIRE) -- Nevada Zinc Corporation ("Nevada Zinc" or the "Company") (TSXV:NZN) is pleased to announce that, further to the its news release dated July 24, 2024, the Company has completed the sale of its interest (the "Transaction") in its mineral claims located in Eureka County, Nevada (the "Property") to Minaurum Gold Corp ("Minaurum") pursuant to the sale and option agreement dated July 24, 2024 (the "Agreement"), as amended.

The Property is made up of 203 mineral claims located in Eureka County, Nevada which are comprised of:

(i) 1 patented claim (the "Patented Claim") and 26 unpatented lode claims, all of which are 100% legally and beneficially owned by the Company's wholly owned subsidiary, Lone Mountain Zinc Ltd. (collectively, the "Owned Claims"); and (ii) 176 unpatented lode claims (the "Leased Claims") held by the Company through a long-term lease agreement (the "Lease").Pursuant to the terms of the Agreement, the Company granted Minaurum an exclusive option (the "Option") to acquire: (i) 100% of the Company's right, title and interest in and to the Owned Claims; and (ii) 100% of the Company's rights and interests in and to the Lease in respect of the Leased Claims. Minaurum exercised the Option by issuing to the Company 3,846,893 common shares in the capital of Minaurum (the "Consideration Shares") having an aggregate value of $1,000,000 and paying to the Company a cash fee in the amount of $100,000. The Consideration Shares are subject to: (i) a four-month and one day statutory hold period in accordance with applicable securities laws; and (ii) a contractual restriction on transfer, pursuant to which the Company may not sell more than 500,000 Consideration Shares per week following ...

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