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Metals Creek Resources Corp (2)
Symbol MEK
Shares Issued 61,146,268
Close 2018-11-08 C$ 0.04
Market Cap C$ 2,445,851
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Metals Creek receives option payment from Anaconda

2018-11-09 10:23 ET - News Release

Mr. Alexander Stares reports

METALS CREEK RECEIVES SECOND ANNIVERSARY OPTION PAYMENTS FOR JACKSON'S ARM AND TILT COVE PROPERTIES IN NEWFOUNDLAND

Metals Creek Resources Corp. has received the second-year option payment for the Jackson's Arm agreement from Anaconda Mining Inc. Metals Creek has received $60,000 and 37,500 Anaconda shares for the second anniversary payment. Anaconda has the right to acquire a 100-per-cent undivided interest in Metals Creek's Jackson's Arm property. To earn a 100-per-cent interest in the Jackson's Arm property, Anaconda is required to make aggregate payments to Metals Creek of $200,000 in cash ($120,000 paid) and issue 125,000 common shares of Anaconda (75,000 issued) over a three-year period. The Jackson's Arm agreement provides for a 2-per-cent net smelter return royalty to MEK on the sale of gold-bearing mineral products from the Jackson's Arm property. The NSR is capped at $1.5-million after which the NSR will be reduced to 1 per cent.

Metals Creek has also received an additional $60,000 and 37,500 Anaconda shares for the second anniversary payment on the Tilt Cove property from Anaconda. Anaconda has the right to acquire a 100-per-cent undivided interest in Metals Creek's Tilt Cove property located 60 kilometres east of Anaconda's Point Rousse project within the BaieVerte mining district. To earn a 100-per-cent interest in the Tilt Cove property, Anaconda is required to make aggregate payments to Metals Creek of $200,000 in cash ($120,000 paid) and issue 125,000 common shares of Anaconda (75,000 issued) over a three-year period. The Tilt Cove agreement provides for a 1-per-cent NSR to MEK on the sale of gold-bearing mineral products from the Tilt Cove property. Anaconda is also assuming an existing 2-per-cent NSR on one of the two licences that comprises the Tilt Cove property. One per cent of the existing NSR is purchasable for $1.25-million.

About Metals Creek Resources Corp.

Metals Creek has earned a 50-per-cent interest in the Ogden gold property, including the former Naybob gold mine, located six kilometres south of Timmins, Ont., and has an eight km strike length of the prolific Porcupine-Destor fault (P-DF) that stretches between Timmins, Ont., and Val d'Or, Que. Metals Creek also has an option agreement with Quadro Resources on Metals Creeks and Benton Resources Staghorn gold project in Newfoundland as well as two option agreements with Anaconda Mining Inc. on Metals Creek's Jacksons Arm and Tilt Cove properties also in Newfoundland. The company also has an option agreement on its Clarks Brook property with Sokoman Iron Corp. and is engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario, Yukon, and Newfoundland and Labrador, including the recently acquired Great Brehat project on the Great Northern Peninsula of Newfoundland.

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