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Myriad Metals Corp.
Summary
| Project: | Millen Mountain | |
|---|---|---|
| Deposit: | Millen Mountain | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 6/13/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 13-6-2019: Myriad Metals Corp. announces a Supporting Acquisition report for its Millen Mountain deposit at the Millen Mountain project. Summary of property in support of acquisition. On March 14, 2019, Legion Metals Corp. (“Legion”) and Nextleaf Solution | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Sharon Allan (Independent) | |
| ABSTRACT: | On March 14, 2019, Legion Metals Corp. (“Legion”) and Nextleaf Solutions Ltd. completed a Plan of Arrangement to merge their respective businesses. As part of this Plan of Arrangement, Legion’s Millen Mountain Property (the “Property” or “Millen Mountain Property”) was transferred to Myriad Metals Corp. (“Myriad” or the “Company”) at fair market value. A total of 1,276,460 Myriad shares were issued to existing shareholders of Legion in consideration for the Millen Mountain Property. Sharon Allan, P.Geo. was retained by Myriad Metals Corp. to update a Technical Report on the Millen Mountain Property located in central Nova Scotia. The original report, completed by Mark Graves on August 2, 2017 for Legion Metals Corp., was used in support of its initial listing on the Canadian Securities Exchange. The author understands that the updated Technical Report will be used to fulfill the Company’s obligations for scientific information on mineral properties pursuant to applicable securities laws and the policies of the Canadian Securities Exchange. This Technical Report conforms to the NI 43-101 Standards of Disclosure for Mineral Projects. On April 10, 2017, Probe Metals Inc. (“Probe”) entered into an option agreement with Legion Metals Corp. (“Legion”), which agreement was subsequently amended October 3, 2017 (the “Option Agreement”). On March 14, 2019, Probe, Legion and Myriad entered into an assignment and assumption agreement (the “Assignment Agreement”) under which Legion assigned, and Myriad assumed, all of Legion’s right, title and interest to, and all of Legion’s obligations under, the Option Agreement. Under the Option Agreement, Probe could earn a 50% interest in the Millen Mountain Property by spending an aggregate $250,000 on exploration expenditures on the Property before October 10, 2018. Probe has fulfilled this initial requirement. Probe may earn an additional 25% (total of 75%) interest in the Property by completing a pre-feasibility study, incurring an additional $250,000 (for an aggregate of $500,000 in exploration expenditures) by October 2019. This report details the exploration activities completed on the Millen Mountain Property during 2017 and 2018. | |
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