1. Option: If Rio Tinto spends a total of US$4 million over three years and pays a total of $300,000 in cash to Aethon in the first two years, has the right to acquire a 51% interest in the Arcas project (« Phase 1 project expenses ») by acquiring 51% of shares in a new company (Opco) that will be integrated; VANCOUVER, British Columbia, 04.08.2020 (GLOBE NEWSWIRE) — American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCPK: USGDF) (« American Pacific » or « Company ») is pleased, through its wholly owned subsidiary American Pacific Mining (US) Inc., it entered into an option for the creation of a joint venture agreement (the « earn-in agreement ») for the company`s Tuscarora Gold project with Elko Sun Mining Corp. (the option), a private company in British Columbia. VANCOUVER, British Columbia, February 24, 2020 (GLOBE NEWSWIRE) – Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (« Calibre » or « the company ») is pleased to announce, the company and Rio Tinto Exploration (« Rio Tinto ») have entered into an option agreement on the February 23, 2020 completion agreement (the « Earn-in » agreement) that allows Rio Tinto to acquire up to 75% of the 100% share of The Borosi projects in northeastern Nicaragua. Borosi projects house both gold-silver and copper-gold resources in two areas, as well as several less studied copper-gold skarns, low-sulphide gold-silver epithermal venous systems and copper-gold porphyry targets with massive tonnage. In addition, the company and Rio Tinto have entered into a strategic exploration alliance (the « Alliance Agreement ») in which we will work together to identify and acquire exploration concessions in Nicaragua, with a focus on copper-gold porphyry, skarn and epithermal precious metal systems. Under the agreement, Hommy will be able to acquire up to 80% of banners through three steps. John Miniotis, Acting CEO of Aethon, commented: « We are pleased to reach a major exploration agreement on the Arcas project with one of the world`s largest mining and exploration companies. Rio Tinto`s enormous technical and financial depth will greatly improve the prospects for a successful discovery of a major copper discovery at Arcas. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words « expected, » « expected, » « expected, » « thinks, » « intentional, » « estimated, » « projects, » « goals, » « potential, » « objective, » « objective, » « prospectus, » « prospectus » and similar expressions, or that events or conditions « may, » « may, » « may, » « could » or « should » occur, or are those statements that, by their nature, warn that forward-looking statements are based on the beliefs, estimates and opinions of company management at the time of the closing announcement and include a number of risks and uncertainties. Therefore, it is not possible to ensure that such statements will prove to be accurate and actual results and future events may differ materially from those expected in such statements. Primavera gold-copper porphyry deposit (« Primavera »).
2. Option: If Rio Tinto makes additional project expenditures of $5 million over the next 2 years, Rio Tinto has the right to acquire an additional 14% interest in Opco (owner of the Arcas project), resulting in a total interest rate of 65%; and Angkor has agreed to divest up to 80% of its interest in its prohibited property Certain statements contained in this press release contain forward-looking information (within the meaning of Canadian securities law), including, without restriction, statements about planned exploration activities and the date for receipt of the results. These statements relate to future events and conditions and include known and unknown risks, uncertainties and other factors that may cause actual results, performance or performance to differ materially from future results, services or performance expressed or implied in the statements.