🕐24.03.15 - 15:54 Uhr
ANTHEM SIGNS LOI TO OPTION CHATEAU FORT GOLD PROPERTY, QUEBEC TO TARKU RESOURCES LTD.
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Re: News Release - Tuesday, March 24, 2015
Anthem Signs LOI to Option Chateau Fort Gold Property, Quebec to
Tarku Resources Ltd.
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NR: 15-04
Anthem Resources Inc.
(TSXV: AYN) ("Anthem" or "the Company") is
pleased to announce that it has signed a binding letter of intent to
option its Chateau Fort gold property in central Quebec to Tarku
Resources Ltd.
(TSX.V: TKU) ("Tarku").
Under the terms of the agreement, Tarku can earn a 100% interest in the
Property, subject to certain underlying diamond rights and Net Smelter
Return Royalties.
In return Tarku shall pay $100,000 in cash and 8
million Tarku shares in staged payments over four years.
This includes
a $5000 payment on execution of this letter agreement (paid) and a
payment of $10,000 and 2 million Tarku shares on approval of the
agreement by the TSX-Venture exchange, and completion of a $400,000
financing by April 21, 2015.
In addition, there is a firm commitment to
spend $200,000 on the property and renew the claims prior to July 10,
2015.
Anthem retains a 2% Net Smelter Return Royalty on claims not subject to
other underlying agreements, of which 1% can be bought down for payment
of $2 million.
In addition, Anthem retains the right to maintain its
pro rata percentage ownership of Tarku via future financings, and first
right of refusal on third party offers to purchase the Property.
Chateau Fort adjoins the "167" property currently being drilled by
Visible Gold Mines Inc.
(TSX.V: VGD or "Visible Gold") and is also
along strike and directly adjacent to the past-producing Eastmain Mine
property of Eastmain Resources Inc.
(TSX: ER).
In late 2014, Visible
Gold announced the discovery of high-grade Au-Cu-Ag boulders at Km 147
and KM 150 along the newly constructed Route 167 Extension, a 4-season
road.
The Chateau Fort property is 18,867 hectares in size and includes Au,
Ag, Cu, Zn and As anomalies from Anthems in-house geochemical surveys
(lake bottom, soil and stream sediments).
Compilation work has
identified at least eight high-priority gold targets for follow-up.
The technical information in this news release has been reviewed by
Michael S.
Cathro, PGeo, Anthems vice-president of exploration and a
qualified person as defined by National Instrument 43-101.
About Anthem Resources
Anthem Resources Inc.
is a Canadian exploration company, which holds a
number of mineral properties, joint ventures and royalty interests.
Anthem also owns a portfolio of securities in various junior
exploration companies.
On Behalf of the Board of Directors of
ANTHEM RESOURCES INC.
Walter Coles Jr.
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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