Vancouver, British Columbia – TheNewswire – July 24, 2019 – Cache Exploration Inc. (the “Company”, or “Cache”), (TSXV:CAY) is pleased to announce Margaret Lake Diamonds, the Company’s JV partner for Kiyuk Lake has filed a National Instrument 43-101 Technical Report (the “Report”) for the Kiyuk Lake Gold Property (“Kiyuk Lake” or the “Property”) located in the Kivalliq region of Nunavut, Canada with an effective date of June 24, 2019. The independent Report was prepared for Margaret Lake by Ian Trinder (M.Sc., P.Geo.) the Author and Qualified Person as defined under NI 43-101, of CSA Global Consultants Canada Ltd. The Report will be available under the Company’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) as well as on the Company’s website at www.cacheexploration.com.
Joint Venture Agreement on Kiyuk Lake Gold Property
Cache Exploration Inc. has granted an exclusive option to Margaret Lake Diamonds Inc. (TSX-V:DIA) to acquire an undivided 50-per-cent interest in the Kiyuk Lake property upon spending $3-million on the property and other considerations.
Provided that the optionee has exercised the option, the optionee may, within 90 days of the 50-per-cent interest earn-in date, elect, by notice in writing to the optionor, to acquire an additional 30-per-cent interest in and to the property by paying to the optionor an additional $5-million within the election period. The option agreement is subject to TSX-V approval. Cache shareholders approved the option agreement during the Company’s annual general meeting held on June 21, 2019.
SOURCE: Cache Exploration
DATE: July 24, 2019