GPM Metals Inc. Corrects Disclosure Error in Recent Press Release
In a recent press release dated June 21, 2024, GPM Metals Inc. (TSXV:GPM) announced a correction to its prior disclosure regarding a Sale and Purchase Agreement with RTX. The correction pertains to a contingent payment clause in the agreement, which was inaccurately stated in the previous release.
The corrected statement indicates that RTX would be entitled to a contingent amount equivalent to the future value of 1,000 tonnes of zinc and lead metal upon the earlier of (i) the definition of a JORC Code compliant measured plus indicated Mineral Resource of greater than 20 million tons at greater than eight percent (8%) combined lead and zinc at the project, and (ii) a decision to mine being made in relation to the project.
This agreement is subject to approval from both the Northern Territory mining authority and the Northern Land Council. Both authorities have been informed and are in the process of considering the approval of the agreement.
As per the Sale and Purchase Agreement, the existing exploration licenses and applications will be transferred from RTX to GPM’s Australian subsidiary, DPG Resources Australia Pty Ltd. This agreement aims to streamline the process of access approvals, exploration license grants, and exploration activities at the project.
GPM expressed gratitude to RTX for their support and collaboration throughout the process, looking forward to a fruitful ongoing relationship. The company is set to continue advancing exploration program plans for the existing granted tenements, focusing on generating and testing sediment hosted zinc-lead-silver mineralization targets.
For further information, interested parties can contact GPM Metals Inc. at their Toronto office or through the provided telephone number and email address.
The correction in the disclosure reflects GPM’s commitment to transparency and accuracy in its communications with stakeholders and investors.
