NORTH PEAK AND MINEX AMEND BLACK HORSE OWNERSHIP OPTION AGREEMENT; PROPERTY RETURNS TO MINEX AND PART OF THE INITIAL PAYMENT RETURNED

www.northpeakresources.com
TSX Venture Exchange: NP

Calgary, Alta., September 1, 2022 /CNW/ – North Peak Resources Ltd. (TSXV: NPR) (the “Company” Where “North Peak“) announces that it has mutually agreed with Minex LLC to modify the option agreement for the Black Horse property so that control of the property Nevada the gold property reverts to Minex and $500,000 and 1,250,000 common shares of the initial option payment (see press release – December 6e2021) returned to the Company, which will henceforth relinquish all option rights to the Black Horse property.

“The opportunity to work with Minex and its founder Gary Grauberger on the Black Horse project in Nevada was a great learning opportunity and both parties coordinated work programs this spring,” said Brian Hinchcliffe, CEO of North Peak. “We wish Minex success in the future and hope that the core drilling and other exploration activities carried out will be beneficial. Although the Company’s property search has focused almost exclusively Nevada recently, the challenges encountered in recent months – including costs and productivity – will result in a geographically expanded search.”

The amendment to the aforementioned option agreement (initially signed December 6, 2021) is effective August 31, 2022. As part of this transaction, the Company is responsible for and has committed to complete the reclamation of the Black Horse property resulting from its recent drilling and exploration program, for which a bond of $21,899 is on deposit with the Land Management Office.

About North Peak

The Company is a Canadian gold exploration and development company that is listed on the TSX Venture Exchange under the symbol “NPR”. The company is focused on acquiring historical sites, with properties producing gold and other metals at low cost, with near-term production potential and a lifespan of more than 8 years in the hemisphere. north.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS:

This press release contains certain “forward-looking statements” under applicable Canadian securities laws. Forward-looking statements include, but are not limited to, the completion of the transaction referenced herein, and statements regarding the Company’s plans, intentions, beliefs and current expectations with respect to the Company’s future business activities and operating performance which may be described in present. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forward-looking terms such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe”, and “continue”. or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.

By their nature, forward-looking statements involve numerous known and unknown assumptions, risks and uncertainties, both general and specific, which contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among others, the state of the economy in general and the financial markets in particular, the accuracy of assay results, geological interpretations of drilling results, timing and amount of capital expenditures; the performance of available laboratory and other related services, future operating costs, and the historical basis for current estimates of potential quantities and qualities of target areas, as well as the risk factors discussed or mentioned in the Company’s management report for the financial year ended December 31, 2021and the period ended June 30, 2022 available at www.sedar.com, many of which are beyond the Company’s control. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, the Company undertakes no obligation to comment on any expectations or statements made by third parties with respect to the matters discussed above.

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.

THE SOURCE North Peak Resources Ltd.

© Canada Newswire, source Canada Newswire English

Carol N. Valencia