Barker Minerals Ltd. – Corporate Activity Update
Prince George, British Columbia (FSCwire) - Barker Minerals Ltd. (“BML” on TSX/V) continues to advance generator business, provides guidance on deal structures, and details exploration spending for a unique collection of properties in the Cariboo Gold District. Barker is dedicated to the business of mineral exploration and has pursued various strategies to create value for shareholders. Going forward, management will continue to advance the generator business.
Project Generator Activity
Over the last 12 months Barker has had preliminary to detailed discussions with various financially capable, and well connected, private entities which are located in London, Israel, Asia, the U.S., and Eastern and Western Canada. Various project generator strategies which have been proposed and discussed include, but are not limited to, loan agreements, convertible debentures, equity investments in Barker, project buyouts, NSR agreements, and earn-in partnerships.
Projects being discussed and considered for partnerships include the Ace, Simlock and Kangaroo gold projects, the Tasse diamond potential project and the drill ready Frank Creek Kuroko VMS project.
The Company is currently in an advanced stage of discussions with certain entities regarding an option investment model involving Barker’s strategic Kangaroo Gold Project. The model being evaluated and discussed involves an option investment into Barker where the investment amount can either be: a) converted to shares at agreed upon pre-determined prices approved by Barker’s Board of Directors and regulatory authorities where required, or b) the initial option investment amount can be used as partial payment to purchase the Kangaroo Gold Project outright at an agreed upon price, after a due diligence period. Final terms and conditions are still being discussed and should an agreement be reached and a letter of intent (LOI) signed a news release will be issued summarizing the final terms and details.
Refer to Figure 1 provided in this news release for further information on the option investment model that Barker is describing here.
Although discussions are at an advanced stage there is no certainty a final agreement will be completed. Due to the fact discussions have been ongoing for awhile, and important decisions may occur in the near future, Barker believes it is prudent to inform its shareholder’s that although news releases have been minimal during the recent past that corporate activities are active and ongoing with efforts to get Barker its first deal under the Project Generator model.
Barker will continue such efforts striving to reach a satisfactory agreement with current parties, and as well, also invites enquiries from other interested parties where a variety of Project Generator models can be considered on its 100% owned stable of high quality exploration projects in an easily accessible part of B.C., where exploration can be conducted on a year round basis.
Exploration Expenditures for 2018 and Proposed for 2019
Barker recently reported that it has been conducting important geochemical rock, silt, soil and heavy mineral sampling programs with XRF analysis methods. Sampling programs have occurred on its Frank Creek, Mag, Kangaroo, Doreen, Simlock, Ace, Black Bear and Tasse projects. All of the projects are 100% owned by the Company and have excellent access and infrastructure nearby.
Refer to Figure 2 provided in this news release for further information on Barker’s exploration property pipeline.
Assessable expenditures of approximately $225,000 occurred during 2018 spread out on the various project areas listed above as well as in outlying areas to expand the geochemical footprint in the various areas which will help identify future target areas for follow up programs. It is anticipated that the 2019 minimum expenditures will be similar to what has been spent in 2018.
Mr. Louis Doyle, President/CEO states, "This is an exciting, new time for Barker. Since founding the company in 1993, I have never been more impressed by the potential for our minerals exploration properties. On behalf of all shareholders, I express gratitude to the team around me who continue to provide services free of charge in support of Barker."
Mr. Doyle continues, "Our 2018 exploration budget is small but mighty. Our surface sampling programs continue to enhance the data warehouse for our properties. An essential ingredient for success with the generator business model is an ability to provide extensive, detailed information confidentially with prospective partners. Working as a generator with new partners has started a new chapter in the BML story. We are grateful for shareholder support of management's vision for the company. We continue to work towards executing transformational transactions for Barker Minerals."
About Barker Minerals
Barker Minerals is advancing exploration on its 100% owned mineral properties in the Cariboo Gold District, one of the most mineralized belts in British Columbia.
Certain statements in this press release may be considered forward-looking information, including those relating to "plans" of the Company. Such information involves known and unknown risks, uncertainties and other factors -- including the availability of funds, the results of financing and exploration activities, the interpretation of drilling results and other geological data, project cost overruns or unanticipated costs and expenses and other risks identified by the Company in its public securities filings -- that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT:
Louis E. Doyle
Phone: (250) 563-8752
Phone: (604) 321-0709
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.
Figure 1: Further information on possible option investment model for the Kangaroo Gold Project.
To view the graphic in its original size, please click here
Figure 2: Further information on Barker Minerals property pipeline.
To view the graphic in its original size, please click here
Source: Barker Minerals Ltd. (TSX Venture:BML)
To follow Barker Minerals Ltd. on your favorite social media platform or financial websites, please click on the icons below.
Maximum News Dissemination by FSCwire. https://www.fscwire.com
Copyright © 2018 FSCwire