Mr. Charles Desjardins reports
RIO TINTO EXERCISES OPTION FOR PISTOL BAY C-BLOCK URANIUM PROPERTIES
Pistol Bay Mining Inc. has entered into an amending and final agreement with Rio
Tinto Canada Uranium Corp., with regard to the C 4, 5 and 6 uranium properties, whereby
Rio Tinto will make a final cash payment of $1-million to Pistol Bay.
The C block uranium properties, located in the Athabasca basin of Saskatchewan, is under option to Rio Tinto,
which has earned a 75-per-cent interest to date.
Under the fourth amending and final agreement, Rio Tinto will acquire an additional 25-per-cent interest in the property (thereby
increasing its aggregate interest to 100 per cent), by making a cash payment of $1-million to Pistol Bay within 14 days from
the effective date of this final agreement. As part of this final agreement, no royalty is granted to Pistol Bay with
respect to the property under the agreement.
About Pistol Bay Mining Inc.
Pistol Bay Mining is a diversified junior Canadian mineral exploration company with a focus on zinc and base
metal properties in North America. The company has also created a subsidiary for resource-driven blockchain
We seek Safe Harbor.
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