KWG Resources Inc. c.o.b. The Canadian Chrome Company

KWG Resources Inc, carrying on business as The Canadian Chrome Corporation – CCC is an exploration stage company that is participating in the discovery, delineation and development of chromite deposits in the James Bay Lowlands of Northern Ontario, including 1,024 hectares covered by four unpatented mining claims (Fancamp Claims) approximately 280km north of Nakina, Ontario, which contains the Black Horse chromite deposit, named the “Black Horse Project” and 1,241 hectares covered by seven unpatented mining claims (Big Daddy Claims) approximately 280km north of Nakina, Ontario, which contains the Big Daddy chromite deposit, named the “Big Daddy Project”. The Corporation has a 30% interest in the Big Daddy Project.

CCC is now the Operator of the Black Horse Joint Venture after it had acquired a vested 50% interest through Bold Ventures Inc. which is carried for 10% (20% of CCC’s equity in the JV) by CCC funding all exploration expenditures. The Corporation had the right to acquire: (i) up to an 80% interest in respect of chromite contained in the Koper Lake Project; and (ii) up to a 20% working interest in respect of the non-chromite minerals contained in the Koper Lake Project.

On September 1, 2022, CCC closed a transaction with Fancamp Exploration Ltd. whereby CCC purchased all of Fancamp’s interest in the Koper Lake claims which consist of 4 “legacy” mining claims. Fancamp retains a 2% Net Smelter Return Royalty. Under the pre-existing KWG-Bold Ventures Inc. Joint Venture agreement, and the Bold-Fancamp Option Agreement, Bold retains a 10% carried interest in chromite and a 40% working interest in all other metals found within the claims. Bold also possesses a Right of First Refusal on a 1% NSR covering all metals found within the claim group.

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