Vancouver, August 7, 2019 –
Unity Metals Corp. (“Unity” or the “Company”) (TSXV: UTY) advises that it has received a default notice from Anstag Mining Inc. (“Anstag”) with respect to an option agreement entered into by the Company in connection with the acquisition of the Margurete Gold Project (the “Project”). The default relates to certain option commitments which the Company has been unable to satisfy with current working capital. Failure to cure the defaults could result in termination of the option.
The Company is currently in discussions with Anstag in an attempt to renegotiate the terms of the option, and extend the payment deadline, in order to allow the Company to retain the Project and continue its exploration program. The Company is also exploring options for financing the continued development of the Project. The Company will keep investors informed of its progress
as further information becomes available.
The Project covers approximately 678 hectares of mineral claims, located in the Phillips Arm Gold Camp in southwest British Columbia, and hosts the FB Zone, the Company’s primary gold target.
On behalf of the Company,
Peter Born Peter Born, President
Phone: (604) 681-0004
Email: info@unitymentalscorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
