STLLR sells Timmins area nickel assets
STLLR Gold Inc. has entered into a binding letter of intent with Loyalist Exploration Limited (CSE: PNGC) ("Loyalist") to sell its interest in the Loveland Nickel Property (the "Transaction"), located approximately 45 kilometres ("km") northwest of Timmins, Ontario, Canada.
The Transaction is part of the Company's ongoing efforts to streamline its core business of focusing on advancing its Tower and Colomac Gold Projects and evaluating its Hollinger Tailings Project. The letter of intent requires the parties to enter a definitive agreement on or before March 31, 2025 that will provide that STLLR receives for the Transaction: i) C$250,000 in an upfront cash payment, ii) 7,000,000 in Loyalist common shares, and iii) a 2.0% net smelter royalty granting Loyalist a 1.0% buyback option for C$1,000,000 (subject to CPI adjustments).
About STLLR Gold
STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) is a Canadian gold development company actively advancing two cornerstone gold projects in Canada: The Tower Gold Project in the Timmins Mining Camp in Ontario and the Colomac Gold Project located north of Yellowknife, Northwest Territories. Each of these two projects has the potential for a long-life and large-scale operation and are surrounded by exploration land with favourable upside potential. STLLR's experienced management team, with a track record of successfully advancing projects and operating mines, is working towards rapidly advancing these projects.
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