July 23, 2020 / Kingston, ON / Accesswire. Delta Resources Limited (“Delta”) (DLTA:TSX-V) (GOLHF:OTC) (6G01: Frankfurt) is pleased to announce that it has received the first cash payment of $100,000 for the sale of the Bellechasse-Timmins Gold Deposit in southeastern Quebec, Canada.
In addition, the TSX Venture Exchange has accepted for filing documentation an asset purchase agreement (the “Agreement”) between the Yorkton Ventures affiliate, 9412-1068 Quebec Inc. (the “Purchaser”) and Delta Resources Limited (the “Vendor”) dated July 3, 2020. Pursuant to the terms of the Agreement, the Purchaser will acquire 100% of the Bellechasse-Timmins Project located in Quebec from the Vendor for a total cash consideration of $1.7-million. The Purchaser will also commit to paying Delta Resources a royalty of 1% NSR (net smelter return) on any and all commercial production of gold. The Purchaser may repurchase 0.5 % of the NSR for $1 million at any time.
About Delta Resources Limited
Delta Resources Limited is a Canadian mineral exploration company focused on growing shareholder value through the acquisition of high-potential gold and base-metal projects in Canada, exploring these projects with state-of-the-art methods, and potentially developing these projects into mines.
Delta is currently exploring its Eureka Gold Discovery in the Thunder Bay area (Delta-1) and its Delta-2 Gold-Polymetallic Property in the Chibougamau Mining District of Quebec.
Delta also owns a 100% interest in the Bellechasse-Timmins gold deposit in southeastern Quebec. On July 3rd, 2020, Delta announced the sale of the Bellechasse-Timmins project.
The Company continues to focus on building upon its strong portfolio of mineral exploration properties with a high potential for economic discoveries in Canada.
ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.
Andre C. Tessier
President, CEO and Director
We seek safe harbor. 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. The TSX Venture Exchange has not approved nor disapproved of the information contained herein.
For Further Information:
Delta Resources Limited
Frank Candido, Director, VP Corporate Communications
Tel : 514-969-5530
Andre Tessier, CEO and President
Cautionary Note Regarding Forward Looking Information
Some statements contained in this news release are ” “forward looking information” within the meaning of Canadian securities laws. Forward looking information include, but are not limited to, statements regarding the use of proceeds of the non-brokered private placement and payment of the debt settlements. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual facts to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes management’s current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event.