Friday, September 28, 2018 8:07:29 AM
Toronto, Ontario--(Newsfile Corp. - September 27, 2018) - Metals Creek Resources Corp. (TSXV: MEK) ("Metals Creek" or the "Corporation") is pleased to announce that the Corporation has entered into an option agreement with Manning Ventures Inc. ("Manning"). Under the terms of the agreement, Manning has the option to acquire a 75% interest in MEK's Squid East Property, located in the northwest extension of the White Gold district, Yukon (the "Property"). The Property is 100% owned by MEK.
In order to exercise the option, Manning must make cash payments to the Corporation of $65,000 over two years ($35,000 due upon CSE listing), issue to the Corporation a total of 1,200,000 Manning common shares over two years (600,000 due upon CSE Listing) and incur work expenditures of $1,150,000 over four years ($50,000 by 31 Dec, 2019). Manning will be the operator during the option period.
Cautionary Statement
The proposed transaction is subject to approval of the proposed listing of Manning Ventures Inc. on the Canadian Securities Exchange (CSE). The transaction cannot close until the listing has been completed and there can be no assurance that the transaction will be completed as proposed or at all.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has a 8 km strike length of the prolific Porcupine- Destor Fault (P-DF) that stretches between Timmins, Ontario and Val d'Or, Quebec. Metals Creek also has an option agreement with Quadro Resources on Metals Creek and Benton Resources Staghorn Gold Project in Newfoundland, as well as two option agreements with Anaconda Mining Inc. on Metals Creek's Jacksons Arm and Tilt Cove Properties, also in Newfoundland. The Corporation also has an option agreement on its Clarks Brook property with Sokoman Iron Corp., is engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario, Yukon and Newfoundland and Labrador, including the recently acquired Great Brehat project on the Great Northern Peninsula of Newfoundland. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.
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