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Winwell Ventures Inc.
Summary
| Project: | Pony Creek | |
|---|---|---|
| Deposit: | Pony Creek | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 5/2/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 2-5-2017: Winwell Ventures Inc. announces a Supporting Acquisition report for its Pony Creek deposit at the Pony Creek project. Summary of property in support of reverse-takeover transaction. Mine Development Associates (“MDA”) has prepared this technical | |
| Resources: | (historic estimate only) | |
| CP/QP: | [Overall Report]: Michael M. Gustin (Mine Development Associates) | |
| ABSTRACT: | Mine Development Associates (“MDA”) has prepared this technical report on the Pony Creek project at the request of Winwell Ventures Inc. (“Winwell”) and Carlin Opportunities Inc. (“Carlin”). This report has been prepared in accordance with the disclosure and reporting requirements set forth in the Canadian Securities Administrators’ National Instrument 43-101 (“NI 43-101”), Companion Policy 43-101CP, and Form 43-101F1, as amended. Contact Gold Corp. (“Contact Gold”) will be formed pursuant to a reverse-takeover transaction between Winwell and Carlin by way of a statutory plan of arrangement (the “RTO Transaction”). As part of the RTO Transaction, Winwell will continue into the State of Nevada and change its name to “Contact Gold Corp”, or such other name as approved by the directors, following which, Contact Gold will acquire Clover Nevada II LLC ("Clover Nevada") from a subsidiary of Waterton Precious Metals Fund II Cayman, LP ("Waterton"), which holds the Pony Creek property, along with 12 other exploration stage properties in Nevada. Contact Gold is planning to be listed on the TSX Venture Exchange (“TSXV”) in connection with the RTO Transaction. Upon closing of the transaction, Waterton will receive CAD $7 million in cash, a 37% percent common share ownership position in Contact Gold, and preferred shares with a face value of CAD $ 15 million, subject to any adjustments as required pursuant to the terms of the definitive agreement with Waterton. Contact Gold will be the sole owner of the Pony Creek property and the remaining exploration assets. This report has been prepared under the supervision of Michael M. Gustin, Senior Geologist for MDA. Mr. Gustin is a Qualified Person under NI 43-101 and has no affiliation with Winwell except that of an independent consultant/client relationship. The Effective Date of this technical report is March 15, 2017. | |
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