Stuhini Exploration Ltd (TSX-V:STU) said it has entered into a purchase agreement with G. Mark Lindsay to acquire strategic information and access to a proprietary database regarding mineral prospects in Arizona and Manitoba.
This strategic information helped the company identify four mineral claims, which it recently acquired in Arizona. In recognition of the information’s usefulness, the company has agreed to pay Lindsay $35,000 cash on signing along with additional cash payments on an annual basis through 2027.
Stuhini also granted Lindsay a 1% net smelter returns royalty in respect of all ores and concentrates produced from the Arizona Claims upon achieving commercial production, the company said. The company has the option to repurchase half of the NSR royalty on any of the four claims at any time for $1 million per claim.
In addition to the Arizona Claims, the strategic information also led to the company identifying one mineral claim that it acquired by staking in Manitoba referred to as the South Thompson Nickel Project.
Accordingly, the company has granted Lindsay a 1% net smelter royalty in respect of all concentrates and ores produced from the South Thompson Nickel Project, with the option to repurchase half of it at any time for $50,000.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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