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Equity Metals Corp
Symbol EQTY
Shares Issued 183,586,458
Close 2024-11-12 C$ 0.19
Market Cap C$ 34,881,427
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Origen options Arlington property to Equity Metals

2024-11-12 18:45 ET - News Release

See News Release (C-ORGN) Origen Resources Inc

Mr. Thomas Hawkins reports

ORIGEN OPTIONS ARLINGTON PROJECT TO EQUITY METALS

Origen Resources Inc. has signed a letter agreement with Equity Metals Corp. to earn a 100-per-cent interest in the Arlington property, located within the Boundary district of south-central British Columbia.

The Arlington agreement provides that Equity may earn a 100-per-cent interest in the Arlington property by meeting the following obligations to Origen, all by the first anniversary of Regulatory Approval:

  • Making cash payments totalling $130,000 ($30,000 of which is reimbursement for the bond posted in regards to the current drill permit to be assigned to Equity);
  • Incurring exploration expenditures of $250,000;
  • Issuing shares valued at $200,000 within seven days of regulatory approval; and issuing additional shares valued at $200,000, or two million shares, whichever is greater, by the first anniversary of regulatory approval.

As a part of the agreement, Origen will also retain a 2-per-cent net smelter royalty of which Equity may purchase 1 per cent of such royalty at any time for $1-million.

Termination of option agreement

Origen and Nickelex Resource Corp. mutually agreed to terminate the Arlington property option agreement that was originally entered into on April 19, 2024.

Thomas Hawkins, PGeo (No. 39892), a qualified person as that term is defined in National Instrument 43-101 has prepared, supervised the preparation or approved the scientific and technical disclosure in the news release.

We seek Safe Harbor.

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