Mountain Boy Minerals Ltd. Reports That it has Acquired an Option to Earn 100% Interest in "Ba" and "Surprise Creek" Properties Located in the "Golden Triangle", Northwestern British Columbia. The "Ba" Property Consists of 9,489.42 Ha and the "Surprise Creek" Property Consists of 7,472.11 Ha. Exploration Expenditures in the Past 10 Years Exceed 12 Million Dollars on the Properties.
Mr. Randy Kasum is pleased to report that Mountain Boy Minerals Ltd and Great Bear Resources have entered into a binding agreement whereby Great Bear Resources (Optionor) grants to Mountain Boy Minerals (Optionee) the sole and exclusive right to acquire the Optionor's 50% interest in both of the Joint Ventures (currently 50/50) and properties, namely the "BA" and "Surprise Creek". Mountain Boy Minerals will issue 10MM shares and pay $1.3MM Dollars in stages to Great Bear between the date of exchange acceptance and August 20,2020. Additionally, MTB will make cash payments to GBR on achieving certain milestones towards establishing an economic resource which could potentially amount to as much as 3.7MM dollars were both properties to go into production.
Ed Kruchkowski, president and C.E.O. of Mountain Boy states: "I want thank Great Bear for trusting us with the further development of these exciting mineral properties and I want to welcome the company as a new shareholder. We will use all our resources in furthering the development of the "BA" and "Surprise Creek" properties with the goal of achieving production."