Affinity Metals Corp. Enters into Option Agreement to Acquire Northline Gold Property Located in Ontario
Vancouver, June 1, 2026 - Affinity Metals Corp. (CSE: AFF) (the "Company" or "Affinity Metals") announces that it has entered into a property option agreement to acquire a 100% interest in the Northline Gold property ("the Property") located within the Patricia Mining Division in the Province of Ontario, Canada.
The Property lies in the region between the Red Lake and Pickle Lake gold camps and is located approximately 10 kilometers south of the Golden Patricia Mine. This area within the southwestern extension of the Meen-Dempster Greenstone Belt is hosted within the Uchi Subprovince, one of the most metal-endowed Archean greenstone assemblages in the world with resources and past production now exceeding 65 million ounces of gold.
Figure 1- Northline Gold Project Map
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Terms of the Transaction
The Company has signed a three-year option agreement (the "Agreement") with Gravel Ridge Resources Ltd. and a private company owned by Perry English (the "Optionors") pursuant to which the Company may acquire a 100% interest in the Northline Gold property. In order to fully exercise its option and acquire the Northline Gold property, over a three year period the Company will pay an aggregate of $99,000 and issue 300,000 common shares of the Company. The Optionors will retain a 1.5% net smelter returns production royalty ("Royalty"). The Company or its assigns will have the right to purchase a 0.5% Royalty for $500,000, leaving the Optionors with a 1.0% Royalty. All securities issued in connection with the Agreement will be subject to a hold period expiring four months and one day from their date of issuance in accordance with the policies of the CSE and applicable securities laws.
About Affinity Metals Corp.:
Affinity Metals is focused on the acquisition, exploration and development of strategic metal deposits within North America.
The Company holds the 100% owned Regal high grade silver property located near Revelstoke, British Columbia and has also recently optioned the Discovery Lake property located near Sioux Lookout, Ontario.
ON BEHALF OF AFFINITY METALS CORP.
"Robert Edwards"
Robert Edwards, President & CEO
The Company can be contacted at: info@affinity-metals.com
Further information about Affinity Metals can be found on its website at: www.affinity-metals.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Company's current expectations regarding future events. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate" and other similar expressions. The forward-looking statements in this news release are based on a number of key expectations and assumptions made by the Company as of the date hereof. Although the forward-looking statements contained in this news release are based on what the Company's management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such statements.
The forward-looking statements in this news release are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Several factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including those identified in the Company's most recent Management's Discussion and Analysis, which is available on SEDAR+ at www.sedarplus.ca. Readers, therefore, should not place undue reliance on any such forward-looking statements. These forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, The Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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