FOKUS MINING MAKES PAYMENT PURSUANT TO THE OPTION AGREEMENT TO ACQUIRE 100% OF THE GALLOWAY PROJECT
Fokus Mining Corporation (“Fokus” or the “Company”) (TSXV: FKM, OTCQB: FKMCF, FSE: F7E1) is pleased to announce that it has now made the third payment pursuant to previously announced option agreement whereby Fokus can acquire 100% interest of the mineral claims on the Galloway project.
The cash payment of $250,000 was the third of a series of four equal payments to Vantex Resources Ltd. (TSXV: VAX) in order to acquire the project. The last payment is due in three months (see ‘Fokus’ press releases dated July16, 2020 and August 7, 2020 for more information).
Jean Rainville, CEO and president of Fokus commented: “We are quite encouraged by the drill results released last week (see press release of February 19, 2021). We are particularly thrilled by the results of our first hole on Hendrick as gold grades exceeded historical results. As we are waiting for the results of the second hole on Hendrick, we are continuing drilling in the GP zone and its extension to the Hurd zone. We are excited that the third hole on Hendrick will begin tomorrow”.
Fokus Mining Corporation is a mineral resource company actively acquiring and exploring precious metal deposits located in the province of Quebec, Canada. In implementing this major undertaking within the Canadian mining industry, we are determined to unlock the secret of the Galloway gold project.
The Galloway project covers an area of 2,865.54 hectares and is located just north of the Cadillac-Larder Lake deformation which extends laterally for more than 100 km. Numerous gold deposits are related to that structure and its subsidiaries. The current work focuses on a small western portion of the mineral claims where several mineral occurrences have been identified. For more information, visit our website: fokusmining.com.
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For further information:
Jean Rainville, President & Chief Executive Officer
Tel.: (514) 918-3125, Fax: (819) 762-0097
Caution Regarding Forward-Looking Statements
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