VANCOUVER, BC, Sept. 1, 2021 /CNW/ - Barsele Minerals
Corp. – (TSXV: BME) (the "Company" or "Barsele")
announces the amendment and further extension of its letter of
intent dated 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 October 31, 2021. Under the
amended LOI, Barsele has agreed to continue a one-way exclusivity
period for the Proposed Transaction until the Outside Date of the
LOI. Additional details regarding the LOI and the Proposed
Transaction are provided in the Company's press releases dated
May 12, 2021, and August 3, 2021, which are 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-amend-and-further-extend-loi-continue-to-work-on-proposed-transaction-301366977.html
SOURCE Barsele Minerals Corp.
