VANCOUVER, BC: Element79 Gold Corp. has signed a binding Letter of Intent (LOI) to acquire 100% of the issued and outstanding shares in Plutus Gold Corp., which holds the option to acquire the Snowbird High-Grade Gold Project.
The Snowbird High-Grade Gold Project consists of 2,726 hectares across ten mineral claims located in Central British Columbia approximately 20 kilometers west of Fort St. James. The claims sit at low elevation with access via dirt roads that allows them to be drilled year-round.
President and CEO of Element79 Gold, James Tworek commented, “The entire team has been hard at work developing our M&A pipeline and today we are pleased to announce the first of several potential acquisitions. Over the coming months, we intend to pursue an aggressive development strategy aimed at significant value-creation for our shareholders and the Snowbird High-Grade Gold Project is a perfect complement due in large part to its expansive potential.”
Element79 Gold is a mineral exploration company focused on the acquisition, exploration and development of mining properties for gold and associated metals. The Company has an option to acquire 100% interest in the Dale Property which consists of 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, Canada in the Timmins Mining Division, Dale Township. www.element79gold.com