Softrock Announces Extension of Option to Acquire Mineral Claims | Financial Buzz

Softrock Announces Extension of Option to Acquire Mineral Claims

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CALGARY, Alberta, Oct. 17, 2019 (GLOBE NEWSWIRE) — Softrock Minerals Ltd (“Softrock” or the “Company”) is pleased to announce that it has entered into an amending agreement whereby it has issued 600,000 common shares in the capital of the Company as consideration to extend it’s option to acquire a 100% interest (subject to a 2% net smelter override) in 135 mineral claims (cells) encompassing approximately 2763 ha. in the Dagny Lake area of Ontario, 80 km northeast of Kenora.  The claims (cells) are in one solid block and lie in the English River sub-province belt which hosts the Werner-Rex Lake cobalt deposit 20 km west. The common shares are being issued in lieu of the payment of $12,000 cash required under the terms of the original option agreement.  Pursuant to the terms of the option, the Company has until September 4, 2020 to make a final payment of $20,000 to acquire the mineral claims.  It is anticipated that the cash saved by issuing the common shares will be used to do geological and assessment work on the claims.

FOR FURTHER INFORMATION, PLEASE CONTACT:

The Honourable Nick Taylor, President and Chief Executive Officer
Softrock Minerals Ltd.
Telephone:  (403) 266-2605
Email:  softrockminerals@shaw.ca 
TSXV:  SFT

 

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