Momentum Public Relations
Press Release: December 8 2017
Crystal Lake Mining Corp. has made progress on its acquisition of the minerals rights to the Emo, Ont., properties referred to in previous news as Property 1, Property 5, Property 7 and Property 8. The company agreed to purchase a 100-per-cent interest in those properties by paying $50,000 and issuing 10.5 million shares to Emerald Lake Development Corp., subject to a 2-per-cent net smelter royalty, 1 per cent of which may be purchased for $1-million.
The company received conditional approval to the acquisition on Nov. 14, 2017, which required, among other things, the preparation of a current geological report and demonstrated ability to finance the first stage of work on the properties. The company has commissioned Ronacher McKenzie Geoscience to prepare the requisite National Instrument 43-101 report on the properties, and, due to its recent fundraising initiatives, the company now has the financial resources necessary to finance the initial stage of consequently recommended exploration.
The company is pleased that acquisition has since been expanded to include additional properties known as Property 2, Property 3 and Property 4, and the added properties will be included without additional consideration. All of the claim blocks are in the same area and have similar geological characteristics to the EL1 and EL5 property blocks, which the company currently holds under option, targeting nickel, copper, cobalt and platinum group metal massive sulphides.
The company is expecting final approval shortly after the receipt of the pending geological report.
About Crystal Lake Mining Corp.
Crystal Lake Mining is a mineral exploration/development company focused on creating value through the exploration and development of its B.C. and Ontario mineral properties.
We seek Safe Harbor.