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Fremont Gold Ltd.: Fremont Amends Terms for Griffon Gold Project


Fremont Gold Ltd.: Fremont Amends Terms for Griffon Gold Project
Fremont or the
Company ) is pleased to announce that it has amended the terms of the option agreement relating to the Griffon gold project (
Griffon ), a past-producing gold mine located at the southern end of the Cortez Trend in White Pine county, Nevada.
In December 2019, Fremont entered into an option agreement (the
Option Agreement ) with Pilot Gold (USA) Inc. (
Pilot ), a wholly owned subsidiary of Liberty Gold Corp. (
Liberty ), to acquire 100% of Griffon (see news release dated December 18, 2019). Both Pilot and Liberty are arms length to the Company.
The original terms of the Option Agreement included a requirement that on December 16, 2020, Fremont would: (i) pay US$50,000 to Pilot; and (ii) issue a number of common shares of the Company to Liberty that would bring the total ownership of Liberty and its affiliates to 9.9% of the issued and outstanding shares of Fremont ....

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