Bald Eagle Announces Closing of Aqusition of Leviathan Property and Provides Corporate Update
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES/
TORONTO, Nov. 29, 2021 /CNW/ - Bald Eagle Gold Corp., ("Bald Eagle" or the "Company") (TSXV: BIG) (OTCBQ: BADEF) announces that further to the Company's press release dated November 16, 2021, the Company has closed the acquisition of a 100% interest in the Leviathan Property located in the Heath Mining District of Washington County, Idaho, USA (the "Property"). The Property is located immediately east of and adjoins the Company's recently acquired Hercules silver property.
The Company acquired (the "Transaction") the Property by purchasing all of the issued and outstanding common shares of Frontier Metals Canada Holdings Corp. ("Frontier Canada"). Frontier Canada is a private company existing under the laws of British Columbia. In connection with the Transaction, the Company issued to the holders of the common shares of Frontier Canada (the "Vendors") 10,000,000 common shares of the Company at a deemed price of $0.045 per share and entered into a net smelter return royalty agreement granting the Vendors a perpetual two percent (2.0%) royalty relating to all production from the Property.
In connection with the closing of the Transaction subject to approval of the TSX Venture Exchange, the Company has appointed Christopher Paul to the Board of Directors of the Company (the "Board").
Mr. Paul holds a B. Sc. in Geology from Simon Fraser University, 2014, and a Diploma in Mining & Mineral Exploration Technology, 2011, from the British Columbia Institute of Technology. Mr. Paul is a Principal and Founder of Ridgeline Exploration, a technical services company which was recently acquired by Goldspot Discoveries Corp. He has served in numerous senior exploration management roles including most recently as the Vice President of Exploration for Golden Ridge Resources Ltd. where he was fundamental in the discovery of the Williams copper gold porphyry in the Golden Triangle region of British Columbia.
Corporate Update
The Company is pleased to announce that Mr. Raymond Harari has been appointed Chief Executive Officer of the Company and Mr. Sidney Himmel has been appointed Chairman of the Board. Mr. Harari will continue as the President of the Company and as a member of the Board and Mr. Himmel has stepped down as Executive Chairman of the Company.
The Company further announced that it has filed its financial results for the three and nine months ended September 30, 2021. Additional information concerning Bald Eagle's consolidated financial statements and related management's discussion and analysis for the three and nine months ended September 30, 2021 can be found at on SEDAR at www.sedar.com.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of advanced exploration assets in known precious metal districts in the Americas. The Company's objective is to acquire advanced exploration projects for exploration and development. The Company intends to, through evaluating historical data and utilizing modern exploration techniques and geological concepts enhance resources. The management team and board of directors of the Company have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information in this press release may include, without limitation, statement and information regarding the future operating or financial performance of Bald Eagle and approval of the TSX Venture Exchange of appointment of Mr. Paul as the new director of Bald Eagle.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Bald Eagle, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Bald Eagle has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Bald Eagle does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Bald Eagle Gold Corp.
Raymond D. Harari, CEO, President & Director, Telephone +(507) 6675-2221, Email: [email protected]
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