TORONTO, ON / ACCESSWIRE / August 1, 2024 / TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF)(FSE:706) ("TRU" or the "Company") is pleased to announce that, further to its news release dated July 30, 2024, it has obtained both shareholder approval and TSX Venture Exchange approval of 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 80% ownership interest in TRU's Golden Rose Project ("Golden Rose"), strategically located along the gold deposit-bearing Cape Ray - Valentine Lake Shear Zone in Central Newfoundland.
Closing of the Option Agreement remains subject to TRU's receipt of a drilling permit for Golden Rose from the Mineral Lands Division of the Newfoundland government ("Mineral Lands"). The permit application is under review by Mineral Lands and is expected to be issued within the month of August.
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 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 264.25 km2 land package, including 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Calibre Mining's Valentine Gold Project and AuMega Metals' Cape Ray Gold Project. In addition, TRU has an option with Quadro Resources Ltd. to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2, including a 12 km strike length along the Shear Zone within Golden Rose. TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
TRU is a portfolio company of Resurgent Capital Corp. ("Resurgent"), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent's website at https://www.resurgentcapital.ca/ and follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman Co-Founder & CEO TRU Precious Metals Corp. Phone: 1-855-760-2TRU (2878) Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
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, the Company's permit application with Mineral Lands, and exploration plans for the Golden Rose Project. These statements are based on numerous assumptions regarding the Option Agreement, the Project, Mineral Lands permitting, 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; delays in obtaining necessary permits; 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.
