Mining Stock News: Golden Valley Mines and Royalties (TSXV: GZZ) – Centremaque Property Update

Val-d’Or, Quebec – September 13, 2021 (Newsfile Corp.) ( Newswire) Golden Valley Mines and Royalties Ltd. (TSXV: GZZ) (“Golden Valley”) announces that it has been informed by Alexandria Minerals Corporation (“Alexandria”), a wholly owned subsidiary of O3 Mining Inc. (“O3”), that it is exercising its option to acquire an 80% interest in the Centremaque property (the “Property”) pursuant to the terms of a Mining Option Agreement between Golden Valley and Alexandria dated April 20, 2017, as amended.

In order to reach the minimum amount of expenditures set out in the Agreement, O3 will issue shares to Golden Valley equivalent to $209,460.00.

Upon the exercise of the option by Alexandria, Golden Valley and Alexandria will form a joint venture to further explore, and if warranted, develop the Property. Golden Valley will have a 20% free-carried interest in the Property, such that Golden Valley will not be responsible for any project costs, including without limitation, construction costs, exploration costs, mine costs and operating costs on the Property, until the commencement of commercial production. In addition, Golden Valley retains a 1.5% royalty on Net Smelter Returns, of which a 0.5% royalty on Net Smelter Returns may be purchased by Alexandria for $1,000,000.

About Golden Valley Mines and Royalties Ltd.

Golden Valley Mines and Royalties Ltd. is focused on project and royalty generation and continues to evaluate opportunities to enhance its mining exploration property portfolio. Golden Valley is able to grow its current assets by way of partner-funded option/joint ventures and through its shareholdings in related-entities.

For additional information, please contact:

Golden Valley Mines and Royalties Ltd.
Glenn Mullan, President & CEO
Tel.: 1-819-824-2808 ext.204
Email: [email protected]

Forward-Looking Statements

This news release contains certain statements that may be deemed “forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward-looking statements.

Forward-looking statements are based on the beliefs, estimates and opinions of the Corporation’s management on the date the statements are made. Except as required by law, the Corporation undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release

More Info: Newswire

This news is published on the Newswire – a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: Learn more about publishing your news release and our other news services on the newswire and

Global investors must adhere to regulations of each country. Please read privacy policy:

Gold Mining Stocks - Gold Mining Stocks Directory, Gold Stocks News, Research and Resources – investing ideas in gold and mining stocks

Like Gold Stocks? View our Gold / Mining Stocks Directory

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:News


Still Pushing for More

January 21, 2022 ( Newswire) S&P 500 gave up yet again the opening gains – ...