The TSX Venture Exchange has accepted for filing a mineral property option agreement dated March 17, 2022, and an amended agreement dated April 22, 2022, between Ares Strategic Mining (the vendor) and Usha Resources Ltd., whereby the company may acquire a 100-per-cent interest in 140 mineral claims located in Jackpot Lake in Clark county in Nevada. Consideration is $75,000 cash, $500,000 in shares within five days of this bulletin and $450,000 in shares (a maximum of 1,875,000 shares) within 12 months of the agreement.
The vendor retains a 1-per-cent gross overriding royalty, with the company having the right to repurchase one-half (a 0.5-per-cent royalty) for $1-million.