Vancouver, September 23, 2020 - Inomin Mines Inc. (TSXV: MINE) reports the receipt of an annual option payment from Maritime Resources Corp. (TSXV: MAE) for Inomin's King's Point gold-copper-zinc project in Newfoundland. Inomin received $100,000 cash and 500,000 shares of Maritime as a second year anniversary payment.
Inomin optioned its 100% owned King's Point project to Maritime in 2018. The option agreement delivers Inomin cash, share payments and minimum property expenditures from Maritime. The agreement also provides Inomin a 1% NSR (Net Smelter Royalty) on King's Point, as well as all mineral claims and other interests acquired by Maritime within an Area of Interest three kilometres from the perimeter of the King's Point project.
Further information on King's Point is available at www.inominmines.com.
About Inomin Mines
Inomin Mines is engaged in the identification, acquisition and exploration of mineral properties especially gold and nickel projects that display strong potential to host significant mineral resources. Inomin is completing the acquisition of the La Gitana and Pena Blanca gold-silver properties in Mexico. The company holds a 100% interest in the Beaver-Lynx sulphide nickel project in south-central British Columbia, and the Fleetwood zinc-copper-gold-silver VMS project in south-west British Columbia. Inomin also owns 100% of the King's Point gold-copper-zinc project in Newfoundland under option to Maritime Resources Corp. (TSXV: MAE). Inomin trades on the TSX Venture Exchange under the symbol MINE. For more information visit www.inominmines.com and follow us on Twitter @InominMines.
On behalf of the board of Inomin Mines:
Inomin Mines Inc.
Per: "John Gomez"
President and CEO
For more information please contact:
Neither 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64403