Fokus Mining Corporation to Buy-back Royalties on Four Group of Claims on Galloway

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Fokus Mining Corporation to Buy-back Royalties on Four Group of Claims on Galloway

Canada NewsWire

TSX.V: FKM       OTCQB: FKMCF       FRANKFURT: F7E1      

ROUYN-NORANDA, QC, April 8, 2021 /CNW Telbec/ - Fokus Mining Corporation ("Fokus" or the "Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) is pleased to announce that it has entered into an agreement to buy-back the Francoeur 2% NSR, the Cadillac Rang III 2% NSR, the Ogima Nord 2% NSR and the Sandborn 2% NSR royalties. The Company is acquiring these net smelter return royalties that are affecting different parts of the Galloway project for a total consideration consisting of a cash payment of $50,000 and the issuance of 100,000 treasury common shares of the Company to the vendor. The transaction is subject to regulatory approval, including that of the TSX Venture Exchange.

Jean Rainville, CEO and President of Fokus stated : "The acquisition of these net smelter return royalties eliminates the royalties affecting a large portion of the Galloway project. Although no significant exploration effort will take place this year on those parts of the Galloway Project, we are totally committed to explore the Galloway project in its entirety given the very favorable geological environment of this large property located on the Cadillac Larder Lake break".

About Fokus

Fokus Mining Corporation is a mineral resource company actively acquiring and exploring precious metal deposits located in the province of Québec, Canada. In implementing this major undertaking within the Canadian mining industry, we are determined to unlock the secret of the Galloway gold project.

The Galloway project covers an area of 2,865.54 hectares and is located just north of the Cadillac-Larder Lake deformation which extends laterally for more than 100 km. Numerous gold deposits are related to that structure and its subsidiaries. The current work focuses on a small western portion of the mineral claims where several mineral occurrences have been identified. For more information, visit our website: fokusmining.com.

The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the TSX Venture Exchange Policies) do not accept any responsibility for the truth or accuracy of its content.

Caution Regarding Forward-Looking Statements

Certain statements contained in this news release may constitute forward–looking information. Forward–looking information is often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "may", "will", "intend", "should", "would", "could" and similar words and the negative form thereof. Forward–looking information involves known and unknown risks, uncertainties, assumption and other unpredictable factors that may cause actual results or events to differ materially from those anticipated in such forward–looking information. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including the exploration and development of the Galloway Project, or if it does so, what benefits the Company will derive from the Galloway Project. The Company's actual results could differ materially from those anticipated in this forward–looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward–looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward–looking information should not be unduly relied upon. Any forward–looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. 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, except as required by applicable laws.

Related Links, http://fokusmining.com/

SOURCE Fokus Mining Corporation

Cision View original content: http://www.newswire.ca/en/releases/archive/April2021/08/c8067.html

Copyright CNW Group 2021

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