Vancouver, B.C., November 5, 2020; Jayden Resources Inc. (“Jayden” or the “Company”) (TSXV:JDN) is pleased to announce that it has received conditional acceptance from the TSX Venture Exchange (the “Exchange”) for the acquisition of the Harry and Outland Silver Bar properties (the “Property”) from Teuton Resources Corp. (“Teuton”) as announced on September 4, 2020.
Pursuant to the terms of the option agreement entered into between the Company and Teuton, the Company may acquire an initial 55% interest in the Property by making aggregate cash payments totaling $180,000 ($25,000 in the first year) and incurring $2,000,000 ($100,000 in the first year) in exploration expenditures over the course of 5 years. An additional 20% interest in the Property can be acquired by Jayden taking the Property into commercial production on or before the 15th anniversary date of final acceptance by the Exchange. Teuton will retain a 2% net smelter royalty on the Property.
Final acceptance of the acquisition is subject to the Company meeting certain filing requirements with the Exchange including but not limited to providing an updated NI43-101 Report on the Property which is currently underway.
On Behalf of the Board:
President and CEO
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.