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Toronto, Ontario--(Newsfile Corp. - September 24, 2020) - Big Ridge Gold Corp. (TSXV: BRAU) is pleased to announce that it has entered into a Memorandum of Understanding (MOU), whereby, subject to entering into a definitive agreement, Blingold Corp. ("Blingold") may acquire 100% interest in the Company's Beardmore properties (the "Properties") located in the Beardmore-Geraldton gold camp. The properties are endowed with great infrastructure, access and local support facilities.
Mike Bandrowski, President & CEO commented, "We are pleased that an Ontario-based exploration company with deep roots in the area recognizes the potential of the Beardmore-Geraldton gold camp. With this transaction, Blingold has a great opportunity to make a new discovery in Beardmore and add to a gold camp that has proven upwards of 10MM oz. Au to date."
Pursuant to the MOU, Blingold may earn a 100% interest in the Properties by issuing Big Ridge 10,000,000 shares, completing a $1,000,000 financing at $0.10 per share and listing on the CSE within the next 6 months. Upon completion of these terms Big Ridge will transfer ownership of the Properties to Blingold and Big Ridge will hold approximately 25% of Blingold. In addition, Mike Bandrowski will represent Big Ridge Gold Corp. as a member of the Blingold Board of Directors.
Avrom Howard, Blingold Corp. VP Exploration commented: "We are very excited about our MOU with Big Ridge Gold Corp. We believe that the Beardmore-Geraldton gold belt is underexplored and offers significant potential for discovery. We look forward to commencing our exploration activities pursuant to a successful raise and market listing."
About Big Ridge Gold Corp.
Big Ridge Gold Corp. is an exploration and development company with a portfolio of 100% owned Canadian gold properties. The Company is focused on the highly prospective Oxford Gold Project located in Manitoba, it is active in the prolific Abitibi greenstone belt in Quebec on the Destiny gold property and is exploring in the Beardmore-Geraldton gold belt in Ontario.
For more details regarding the Company's projects, please visit our website at www.bigridgegold.com.
ON BEHALF OF THE BOARD,
President & CEO
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.
For further information contact:
President & CEO
BIG RIDGE GOLD CORP.
Suite 615-800 W. Pender Street
Vancouver, BC, V6C 2V6
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64541