DISCOVERY HARBOUR AMENDS CALDERA EXTENSION PROPERTY ACQUISITION TERMS, SHAREHOLDERS ELECT BOARD OF DIRECTORS
Discovery Harbour Resources Corp. has entered into amended final agreements for the acquisition of 56 mineral claims contiguous to its 100-per-cent-optioned Caldera epithermal gold project in Nevada. The company initially announced the acquisition on Aug. 15, 2018, and an amendment on Sept. 19, 2018. The acquisition will expand the Caldera project to cover additional gold targets, including extensions of previously identified targets that feature structures, a distinct magnetic trough and alteration patterns consistent with the low-sulphidation epithermal system that is the company's focus at Caldera.
Under the final terms of the agreements, Discovery Harbour will acquire a 100-per-cent interest in the Extension property, subject to a 2-per-cent net smelter royalty retained by the vendor that the company can purchase for $1-million for each one percentage point of the NSR. The vendor is a non-arm's-length party by virtue of holding beneficial ownership of over 10 per cent of the common shares of the company. The acquisition is subject to the approval of the TSX Venture Exchange.
The Caldera gold project was initially generated by Don Merrick and John Zimmerman of Genesis Gold Corp., a private Utah company specializing in gold exploration in the Western United States, the foundation of which are the claims first staked by Zsolt Rosta.
Mark Fields, PGeo, is the qualified person for Discovery Harbour as defined in National Instrument 43-101, and has reviewed and approved the technical contents of this news release.
Annual general meeting
The company is further pleased to announce that all of the resolutions put forth at its annual general meeting of shareholders held on Dec. 20, 2018, have been approved. In addition to the approval of the company's rolling stock option plan and the appointment of A. Chan & Company, chartered professional accountant, as auditor for the ensuing year, the number of directors was set at four and the shareholders elected the following directors of the company:
Mark Fields -- interim president, chief executive officer and director of the company since 2009;
Jason Cubitt -- newly elected director of the company;
Richard Gilliam -- director of the company since 2013;
Andrew Hancharyk -- director of the company since 2010.
