Apogee Minerals Issues Correction to Prior News Release Regarding Amendment to Option Agreement for the Pine Channel Property
March 3rd, 2022, Vancouver, British Columbia – Apogee Minerals Ltd. (“Apogee” or the “Company” or the “Optionee”) (TSXV: APMI) issues a correction to prior news release dated February 18, 2022, regarding the amendment to the option agreement (the “Agreement”) with Eagle Plains (the “Optionor”) for the Pine Channel Property (or the “Property”).
Under the new terms of the Agreement, Apogee has been granted a reallocation on the majority of the first year exploration expenditures from the first year to the fourth year, with the aggregate exploration expenditure amount over the course of the option remaining the same. The new exploration expenditure schedule is as follows:
(i) $100,000 on or before June 30, 2022;
(ii) an additional $500,000 on or before June 30, 2023;
(iii) an additional $800,000 on or before June 30, 2024; and
(iv) an additional $1,600,000 on or before June 30, 2025.
In consideration of the amendment, the Apogee has paid the Optionor $40,000. All the other terms and conditions of the agreement remain unchanged.
About Apogee Minerals Ltd.:
Apogee Minerals Ltd. is a mineral exploration company. Our goal is to build shareholder value through mineral project acquisitions and advancement, as well as new mineral discoveries.
To find out more about Apogee Minerals Ltd. (TSX-V: APMI) visit the Company’s website:
Apogee Minerals Ltd.
CEO and Director
For further information, please contact:
Apogee Minerals Ltd.
Riley Trimble, Director
Tel: (604) 416-2978
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Cautionary Statements Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the structure of the Proposed Transaction, the terms and conditions of the Proposed Transaction, the Consolidation, the Name Change, the terms of the Financing. the composition of the board of directors and officers of the Resulting Issuer upon completion of the Proposed Transaction, the intention of the parties to seek a sponsorship exemption or waiver, the issuance of subsequent news releases, and Alto Verde’s future exploration plans. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
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