Property Asset Agreement Approved as Crystal Lake Targets Rainy River District for New Nickel-Rich Sulphide DiscoveriesFebruary 27, 2018
Vancouver, B.C. – Crystal Lake Mining Corporation (the “Company” or “Crystal Lake”) announces the TSX Venture Exchange has accepted for filing a purchase agreement dated September 28, 2017, between the Company and Emerald Lake Development Corporation (the “Vendor”), a private Ontario company, whereby Crystal Lake has acquired certain mineral rights subject to a 2% NSR located in the Rainy River district near Emo, Ontario.
As consideration for 100% of the mineral rights, Crystal Lake will pay $50,000 on closing and issue 10,500,000 common shares of the Company. Significantly, the Vendor has agreed to an 18-month voluntary hold period on selling the shares issued in connection with the transaction. For further information, please refer to the Company’s news release dated October 5, 2017.
The transaction is arm’s length in nature and there are no finder’s fees.
The six separate prospective claim blocks that have been acquired are targeting nickel, copper, cobalt and platinum group minerals.
Crystal Lake is rapidly approaching the start of its exploration/drilling program and eagerly anticipates updating shareholders regarding its plans in the very near future.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through new nickel-rich sulphide discoveries in the under-explored Rainy River district of northern Ontario using technical excellence in exploration target development and technologies.
This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
On behalf of The Board of Directors of Crystal Lake Mining Corporation.
Alphonse Ruggiero, Director/CFO
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.