Angus Gold Announces Cancellation of Underlying Royalty on the Golden Sky Project

Yahoo

08-05-2025

TORONTO, May 08, 2025 (GLOBE NEWSWIRE) -- Angus Gold Inc. (TSX-V: GUS | OTC: ANGVF) ('Angus' or the 'Company') is pleased to announce the cancellation of a 2% Net Smelter Royalty ('NSR') pursuant to a buyback purchase from IAMGOLD Corporation.
The NSR was applicable to the Mishi Property located in Wawa Ontario which was acquired under an option with IAMGOLD Corporation and is 100% owned by Angus. The royalty covered approximately one-third of the Golden Sky Project land package, including the Banded Iron Formation Gold Zone ('BIF') and the Eagle River Splay exploration area. The Company has drilled approximately 12,000 metres to date at the BIF Gold Zone, and the Eagle River Splay Area is a high priority exploration target. The purchase price for the NSR was a cash payment of US$750,000.
About Angus Gold:Angus Gold Inc. is a Canadian mineral exploration company focused on the acquisition, exploration, and development of highly prospective gold properties. The Company's flagship project is the Golden Sky Project in Wawa, Ontario. The Project is immediately adjacent to the Eagle River Mine of Wesdome Gold Mines Ltd. ('Wesdome').
Wesdome and Angus have entered into a definitive arrangement agreement whereby Wesdome will acquire all of the issued and outstanding common shares of Angus pursuant to a plan of arrangement (the 'Arrangement'). For further information see the press release of the Company dated April 7, 2025.
On behalf of Angus Gold Inc.,
Breanne BehPresident and Chief Executive Officer
INQUIRIES:Lindsay Dunlop, Vice President Investor RelationsEmail: [e-mail]: 647-259-1790Company Website: www.angusgold.com
TSXV: GUS | USOTC: ANGVF
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as 'believes', 'anticipates', 'expects', 'estimates', 'may', 'could', 'would', 'will', or 'plan'. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the benefits and advantages of the cancellation of the NSR and, in general, the Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the economic rationale for the cancellation of the NSR may not be realized; the ability to satisfy the conditions of closing for the Arrangement including the necessary shareholder and court approvals, and otherwise complete the Arrangement on the terms as announced or at all; the ability to anticipate and counteract the effects of COVID-19 pandemic on the business of the Company, including without limitation the effects of COVID-19 on the capital markets, commodity prices supply chain disruptions, restrictions on labour and workplace attendance and local and international travel, failure to receive requisite approvals in respect of the transactions contemplated by the Agreement, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.