VANCOUVER, BC, Aug. 3, 2021 /CNW/ - Barsele Minerals Corp.
– (TSXV: BME) (the "Company" or "Barsele")
announces the extension of its letter of intent date May 10, 2021 (the "LOI") with Agnico Eagle
Mines Limited ("Agnico Eagle"). The LOI sets out the basic
terms and conditions for the Company to acquire Agnico Eagle's
indirect 55% interest in the Barsele Project (the "Proposed
Transaction"). The Company currently holds the remaining 45%
interest in the Barsele Project, and upon completion of the
Proposed Transaction would consolidate 100% control of the Barsele
Project.
The Company and Agnico Eagle are continuing to work toward
completion of definitive agreements in respect of the Proposed
Transaction and have agreed to extend the "Outside Date" of the LOI
to August 31, 2021. Additional
details regarding the LOI and the Proposed Transaction are provided
in the Company's press release dated May 12,
2021, which is available on the Company's SEDAR profile at
www.sedar.com. The LOI is non-binding and there can be no assurance
that the Proposed Transaction will be completed as proposed or at
all.
About the Barsele Project
The Barsele Project is located on the western end of the
Proterozoic "Skellefte Trend", a prolific volcanogenic massive
sulphide deposits belt, that intersects with the "Gold Line" in
Northern Sweden. Both polymetallic deposits and intrusive
hosted orogenic gold deposits are present in this region and on the
property. Current and past producers in the region include
Boliden, Kristineberg, Bjorkdal, Svartliden and Storliden.
About Barsele Minerals Corp.
Barsele is a Canadian-based junior exploration company managed
by the Belcarra Group, comprised of highly qualified mining
professionals. Barsele's main property is the Barsele Gold
Project in Västerbottens Län, Sweden, a joint venture with Agnico Eagle.
An amended NI 43-101 Technical Report on the Barsele Project
with an effective date of February 21,
2019, was filed on SEDAR on December
16, 2020.
On Behalf of the Board of
Directors
Gary Cope
President and CEO
Neither the 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.
Forward Looking Statements
This news release contains forward-looking information under
the provisions of applicable Canadian securities legislation.
All statements in this news release, other than statements of
historical fact, are forward-looking information with respect to
Barsele including but not limited to: comments regarding the timing
or terms upon which the Proposed Transaction will be completed.
Forward-looking information is necessarily based upon a
number of factors and assumptions that, if untrue, could cause the
actual results, performances or achievements of the Company to be
materially different from future results, performances or
achievements expressed or implied by such statements. Such
statements and information are based on numerous assumptions
regarding present and future business strategies and the
environment in which the Company will operate in the future,
including the price of gold, anticipated costs and ability to
achieve goals. In respect of the forward-looking statements
concerning the anticipated completion of the Proposed Transaction,
Barsele has provided them in reliance on certain assumptions that
they believe are reasonable at this time, including assumptions as
to the time required to negotiate a definitive agreement and
complete matters relating to the Proposed Transaction; the ability
of the parties to receive, in a timely manner, the necessary
regulatory, corporate and other third party approvals; and the
ability of the parties to satisfy, in a timely manner, the other
conditions to the closing of the Proposed Transaction.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Such
factors include, among other things: risks and uncertainties
relating to the Proposed Transaction not closing when planned or at
all or on terms and conditions set forth in the LOI; the failure to
obtain necessary regulatory and third party approvals in order to
proceed with the Proposed Transaction; the benefit of the Proposed
Transaction not being realized; the ability of the Company to
obtain additional financing, the need to comply with environmental
and governmental regulations, fluctuations in the prices of
commodities, operating hazards and risks, competition and other
risks and uncertainties, including those described in the Company's
financial statements, management discussion and analysis
("MD&A") and current annual information form available
on www.sedar.com. The risk factors identified in the
financial statements, MD&A and annual information form are not
intended to represent a complete list of factors that could affect
the Company. Actual results may differ materially from those
currently anticipated in such statements and the Company undertakes
no obligation to update such statements, except as required by
law.
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content:https://www.prnewswire.com/news-releases/barsele-and-agnico-eagle-extend-loi-continue-to-work-toward-definitive-agreements-301346779.html
SOURCE Barsele Minerals Corp.
