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Angus Gold Inc. is pleased to announce the cancellation of a 2% Net Smelter Royalty (“NSR”) pursuant to a buyback purchase from IAMGOLD Corporation.
The NSR was applicable to the Mishi Property located in Wawa, Ontario which was acquired under an option with IAMGOLD Corporation and is 100% owned by Angus. The royalty covered approximately one-third of the Golden Sky Project land package, including the Banded Iron Formation Gold Zone (“BIF”) and the Eagle River Splay exploration area. The Company has drilled approximately 12,000 metres to date at the BIF Gold Zone, and the Eagle River Splay Area is a high priority exploration target. The purchase price for the NSR was a cash payment of US$750,000.
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