VANCOUVER, BC, Oct. 26, 2021 /CNW/ -Trillium Gold Mines
Inc. (TSXV: TGM) (OTCQX: TGLDF) (FRA: 0702) ("Trillium
Gold" or the "Company") is pleased to report the closing of the
previously announced acquisition of thirteen patented mineral
claims totalling 229 hectares, collectively known as the "Willis
Property". The Property is situated southwest of Trillium Gold's
100%-owned Newman Todd (NT) Property in Todd Township, Red Lake
Mining District, Ontario, see
Figure 1 below.
Through the completion of payments totalling $420,000 and an aggregate of 400,000 common
shares in the capital of the Company which are subject to a four
month hold period, Trillium Gold has acquired 100% interest in the
Willis Property. The Property is subject to a 2% net smelter
returns (NSR) royalty (the "Royalty"), one-half (1%) of which
Trillium Gold has the right to repurchase for consideration of
$1.2 million, payable in cash or
shares. In addition, the Company has a right of first refusal
should the holders of the Royalty choose to sell the Royalty in the
future.
On behalf of the Board of Directors,
Trillium Gold Mines Inc.
Russell Starr
President, CEO and Director
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a growth focused company engaged in
the business of acquisition, exploration and development of mineral
properties located in the Red Lake Mining District of Northern Ontario. The Company has been
increasing its holdings in the Confederation Lake and Birch-Uchi
greenstone belts and has a non-binding LOI to further consolidate
its contiguous land assemblage to more than 100 km in length.
In addition, the Company has interests in highly prospective
properties in Larder Lake, Ontario
and the Matagami and Chibougamou
areas of Quebec.
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.
This news release contains forward-looking information, which
involves known and unknown risks, uncertainties and other factors
that may cause actual events to differ materially from current
expectation. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release. The Company disclaims any intention or
obligation, except to the extent required by law, to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
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SOURCE Trillium Gold Mines Inc.
