Mr. Sylvain Laberge reports
1844 ANNOUNCES THE SALE OF THE LAC ARSENAULT PROJECT
1844 Resources Inc. has agreed to sell its Lac Arsenault project to Canada Gold Resources Ltd.
The purchase price for the mining claims shall be $600,000, payable as follows:
- $100,000 in cash to be provided to 1844 on the closing date;
- Shares of the treasury of the purchaser for the value of $500,000 to be provided to 1844 on the closing date of the public offering;
- 1844 shall be entitled to a 1-per-cent NSR (net smelter return) and the purchaser shall have the right to repurchase the NSR for $500,000.
Sylvain Laberge, president and chief executive officer: "The sale of Lac Arsenault is part of our strategy of concentrating efforts on our existing copper projects. Further, we continue to evaluate additional strategic metal opportunities in the province of Quebec."
About 1844 Resources Inc.
1844 is an exploration company with a focus in strategic and energetic metals and underexplored region Gaspe, Que. With a dedicated management team, the company's goal is to create shareholder value through the discovery of new deposits.
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