TRU Precious Metals Completes Granting of Golden Rose Option to Eldorado Gold
Rhea-AI Summary
TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF) has completed the granting of an option to Eldorado Gold for its Golden Rose Project in Central Newfoundland. This follows the receipt of an outstanding drill permit, satisfying all pre-conditions of the definitive earn-in agreement. The option allows Eldorado to earn an 80% ownership interest in the strategically located Golden Rose Project along the gold deposit-bearing Cape Ray - Valentine Lake Shear Zone.
TRU CEO Steve Nicol expressed enthusiasm about the partnership with Eldorado, a global gold producer, and the potential to drive exploration efforts forward. The full details of the Option Agreement will be available on TRU's SEDAR+ profile.
Positive
- Strategic partnership with Eldorado Gold, a global gold producer
- Potential for accelerated exploration of the Golden Rose Project
- Project located in a promising gold-bearing zone in Newfoundland
Negative
- Potential dilution of TRU's ownership interest in the Golden Rose Project to 20%
News Market Reaction 1 Alert
On the day this news was published, TRUIF declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO, ON / ACCESSWIRE / August 22, 2024 / TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF)(FRA:706) ("TRU" or the "Company") is pleased to announce that, further to its news release dated July 30, 2024, it has now received an outstanding drill permit and accordingly has satisfied all pre-conditions to the definitive earn-in agreement (the "Option Agreement") transaction with Eldorado Gold Corporation (TSX: ELD, NYSE: EGO) ("Eldorado"). Pursuant to the Option Agreement, Eldorado has been granted the exclusive option (the "Option") to earn an
TRU CEO Steve Nicol commented: "We are delighted to welcome Eldorado, a gold producer with global operations, as a strategic partner to TRU. The TRU team is eager to drive exploration efforts forward and we look forward to a successful collaboration with Eldorado to unlock the potential of the project."
Additional terms of the Option Agreement can be found in the Company's news release dated July 30, 2024. A copy of the Option Agreement will be filed under TRU's SEDAR+ profile at www.sedarplus.ca. The description of the Option Agreement contained herein is qualified by the complete text of the Option Agreement.
About Eldorado Gold Corp.
Eldorado is a gold and base metals producer with mining, development and exploration operations in Türkiye, Canada and Greece. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado's common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).
About TRU Precious Metals Corp.
TRU (TSXV:TRU, OTCQB:TRUIF, FSE:706) is on a mission to build long-term shareholder value through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its
TRU is approximately
For further information about TRU, please contact:
Olga Nikitovic
President & CFO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
X (formerly Twitter): https://twitter.com/TRUMetals
YouTube: https://www.youtube.com/@TruMetalsCorp
LinkedIn: https://www.linkedin.com/company/tru-precious-metals-corp/
Instagram: https://www.instagram.com/TRUMetals/
Facebook: https://www.facebook.com/TRUMetals/
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at Golden Rose.
Forward-Looking Statements and Disclaimers
This press release contains certain forward-looking statements, including those relating to performance of the Option Agreement, the Company's relationship with Eldorado, and exploration plans for the Golden Rose Project. These statements are based on numerous assumptions regarding the Option Agreement, the Project, and the Company's operations at Golden Rose that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: the Option may never be exercised by Eldorado as proposed or at all; the exploration potential of the Golden Rose Project; risks inherent in mineral exploration activities; and those other risks described in the Company's continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
This press release is solely the responsibility of TRU, and Eldorado is not in any way responsible or liable for the contents hereof.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: TRU Precious Metals Corp.
View the original press release on accesswire.com
FAQ
What percentage can Eldorado Gold earn in TRU Precious Metals' Golden Rose Project?
When did TRU Precious Metals (TRUIF) announce the completion of the option grant to Eldorado Gold?
Where is TRU Precious Metals' Golden Rose Project located?
What was the final pre-condition for the TRU Precious Metals (TRUIF) and Eldorado Gold agreement?
