Delta Resources Receives First $100,000 Cash Payment from Yorkton Ventures

July 23, 2020 / Kingston, ON / Accesswire. Delta Resources Limited (“Delta”) (DLTA:TSX-V) (GOLHF:OTC) (6G01: Frankfurt) is pleased to announce that it has received the first cash payment of $100,000 for the sale of the Bellechasse-Timmins Gold Deposit in southeastern Quebec, Canada.

 

In addition, the TSX Venture Exchange has accepted for filing documentation an asset purchase agreement (the “Agreement”) between the Yorkton Ventures affiliate, 9412-1068 Quebec Inc. (the “Purchaser”) and Delta Resources Limited (the “Vendor”) dated July 3, 2020.  Pursuant to the terms of the Agreement, the Purchaser will acquire 100% of the Bellechasse-Timmins Project located in Quebec from the Vendor for a total cash consideration of $1.7-million.  The Purchaser will also commit to paying Delta Resources a royalty of 1% NSR (net smelter return) on any and all commercial production of gold.  The Purchaser may repurchase   0.5 % of the NSR for $1 million at any time.

 

About Delta Resources Limited

 

Delta Resources Limited is a Canadian mineral exploration company focused on growing shareholder value through the acquisition of high-potential gold and base-metal projects in Canada, exploring these projects with state-of-the-art methods, and potentially developing these projects into mines.

 

Delta is currently exploring its Eureka Gold Discovery in the Thunder Bay area (Delta-1) and its Delta-2 Gold-Polymetallic Property in the Chibougamau Mining District of Quebec. 

 

Delta also owns a 100% interest in the Bellechasse-Timmins gold deposit in southeastern Quebec.  On July 3rd, 2020, Delta announced the sale of the Bellechasse-Timmins project.

 

The Company continues to focus on building upon its strong portfolio of mineral exploration properties with a high potential for economic discoveries in Canada.

 

ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.

 

Andre C. Tessier

President, CEO and Director

www.deltaresources.ca