(via TheNewswire)
“The conclusion of the earn-in agreement with Barrick consolidates NewOrigin’s 27 kilometre long Sky Lake claim package, located at the southwest end of the
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NewOrigin completed a
As per the terms of the earn-in agreement, NewOrigin has granted Barrick:
a 0.5% NSRroyalty on the Koval Property and to the Sky Lake claim package owned byNewOrigin at the time of the initial agreement. Claims subsequently acquired by NewOrigin areexcludedfromthis royalty.
a Back-In Rightwhich provides Barrick the right, following delivery of a positive feasibility study,to back-in for a 51% interest on the Koval Property and on the Sky Lake claim package owned byNewOrigin at the time of the initial agreement. On exercise of the Back-In, Barrick’s royalty wouldbe extinguished. In order to back-in, Barrick would be required to complete a payment of three timesNewOrigin’sexpendituresincurred onthe propertiescovered intheagreement.
The acquisition of the Koval Property marks a major step in NewOrigin’s plans to advance the Sky Lake project. On
About the Koval Property
The Koval Property, within NewOrigin’s
Technical Information
Technical information in this press release was reviewed by Mr.
About NewOrigin Gold Corp.
NewOrigin Gold Corp. (formerly Tri Origin Exploration Ltd.) is a Canadian gold exploration company focused on drill discovery on its North Abitibi and Sky Lake gold projects in the Canadian Shield. NewOrigin’s management and board have extensive experience in the delineation and development of gold deposits. Company shareholders include O3 Mining Inc. and Osisko Mining Inc.
For Further Information Contact:
Phone: (905) 727-1779 or visit www.neworigingold.com
Cautionary Statement regarding Forward Looking Statements:
Neither
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 intention to complete the foregoing, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the Company’s ability to obtain all approvals required in connection with the foregoing, the Company’s ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company’s business 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.
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