MONTREAL, QC / ACCESSWIRE / August 5, 2021 / Delta Resources Limited (“Delta” or “The Company”) (TSX-V: LTAD)(OTCBB: DTRF) (Frankfurt: 6G01) is pleased to announce that it has received a fourth installment of cash payment of $ 200,000 from Yorkton Ventures (TSX / V: YVI) for the sale of its Bellechasse-Timmins gold deposit in southeastern Quebec, Canada .
The terms of the agreement previously announced on July 7, 2020 were amended by both parties with respect to the balance of payments in the amount of $ 1,000,000.
Pursuant to a revised agreement signed on January 27, 2021, Delta had agreed to the following revised payment schedule;
- $ 200,000 in cash by August 1, 2021
- Cash payment of $ 200,000 by September 1, 2021
- Cash payment of $ 200,000 by October 1, 2021
- Cash payment of $ 200,000 by November 1, 2021
- Cash payment of $ 200,000 by December 1, 2021
Yorkton has also committed to pay Delta a 1% Net Smelter Return (NSR) royalty on any commercial production derived from the Bellechasse-Timmins property. Yorkton can buy back 0.5% of the NSR for $ 1 million at any time.
About Delta Resources Limited
Delta Resources Limited is a Canadian mining exploration company focused on growing shareholder value through the exploration of two very high potential gold and base metals projects in Canada.
- DELTA-1, 45 km2 located 50 km west of Thunder Bay, Ontario, where an extremely high gold anomaly in till and a one kilometer scale gold alteration halo indicate an untested regional structure.
- DELTA-2 GOLD and DELTA-2 VMS, 170 km2 in the prolific district of Chibougamau in Quebec, with potential for gold-rich hydrothermal gold and VMS deposits.
ON BEHALF OF THE BOARD OF DIRECTORS OF DELTA RESOURCES LIMITED.
We seek refuge. Neither the 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. The TSX Venture Exchange has neither approved nor disapproved of the information contained in this document.
For more information:
Delta Resources Limited
André C. Tessier, CEO and President
Phone. : 613-328-1581
Frank Candido, President
Caution regarding forward-looking information
Certain statements contained in this press release constitute “forward-looking information” within the meaning of Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding the use of the proceeds of the non-middleman private placement and the payment of debt settlements. In general, forward-looking information can be identified by the use of forward-looking terms such as “plans”, “expects”, “is planned”, “budget”, “planned”, “estimates”, “forecasts”, “Intention of”, “anticipates”, “believes” or variations of these words and phrases (including negative or grammatical variations) or statements that certain actions, events or results “could”, “could”, “would” , “could” or “be taken”, “occur” or “be achieved” or the negative connotation thereof. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties which could cause actual facts to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes actual estimates. management, as of the date of this press release, with respect to the matters covered by this press release. We anticipate that these estimates will change as new information is received. While we may choose to update these estimates at any time, we do not undertake to update any estimate at any time or in response to any particular event.
THE SOURCE: Delta Resources Limited
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