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Stone Gold Acquires Mineral Claims in Red Lake

Jan 14, 2021

Stone Gold Inc. has entered into an asset purchase agreement with EMX Royalty Corporation, pursuant to which the company will acquire certain mineral claims in Red Lake from EMX.

Under the terms of the Agreement, EMX will receive a cash payment of $10,000, the grant of a 1.5% net smelter royalty on the Claims and will be issued 30,000 common shares of Stone Gold (“Common Shares”) at closing in exchange for 100% ownership the Claims.

The claims, which are approximately 100 hectares, cover the extension of the Golden Arm ultramafics and the Newman Todd structure where they intersect the contact of the Killala Baird batholith. The mafic/ultramafic contacts and the structural corridors are prime targets to host gold mineralization similar to the Campbell Red Lake Style mineralization and NT Zone Style Mineralization, as identified on the West Red Lake and Trillium Gold Mines to the north.

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