Guardian Exploration acquires Kaigani claim, Alaska

Guardian Exploration Inc. [GX-TSXV] completed the acquisition of mineral claims located on southern Dall Island, southeast Alaska, United States, known to the parties as the Kaigani claims, from Dennis Moore. The acquisition was previously announced February 4, 2022.

The purchase price for the assets was satisfied by issuing 1 million common shares in the share capital of Guardian Exploration, a cash payment of US$35,000 and a 1.5% net smelter return royalty. Guardian Exploration is entitled to buy back one-half of the net smelter royalty at a price of US$1.5-million for five years or 120 days from the date a preliminary economic assessment is issued with respect to the claims, whichever is earlier.

In the event that a drilling permit that enables Guardian Exploration to drill on the mining claims is issued within five years from the date of the asset purchase agreement, Guardian Exploration will pay Moore an additional US$25,000 and will issue Moore an additional 1 million common shares. No finders’ fees were paid in respect of the transaction.

Guardian Exploration’s first prospect is the Mount Cameron property located in the Yukon’s Mayo mining district.