The TSX Venture Exchange has accepted for filing a property option agreement dated Dec. 9, 2019, between International Montoro Resources Inc. and Falcon Gold Corp. (the vendor), whereby the company may acquire a 75-per-cent interest in and to the Camping Lake claims located in the Red Lake mining district of Ontario. Consideration is 1.5 million common shares, $65,000 cash staged over five years for 51 per cent of the property, $500,000 cash in year 6 for the remaining 25 per cent and $300,000 in work commitments to the end of 2021. The vendor will retain a 0.5-per-cent net smelter return royalty (NSR) in addition to a 1.5-per-cent NSR held by the original vendor.
For more information, refer to the company's news release dated Oct. 23, 2019.
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