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Mayo Lake Minerals Signs Letter of Intent With WestMountain Gold

Mayo Lake Minerals Signs Letter of Intent With WestMountain Gold

梅奧湖礦業公司與 WestMountain Gold 簽署意向書
newsfile ·  2023/08/18 07:18

Ottawa, Ontario--(Newsfile Corp. - August 17, 2023) - Mayo Lake Minerals Inc. (CSE: MLKM) ("Mayo") is pleased to announce that it has entered into a non-binding letter of intent dated August 2, 2023 (the "LOI") with WestMountain Gold, Inc. ("WestMountain"). The LOI outlines the proposed terms and conditions of a possible transaction pursuant to which Mayo and WestMountain would negotiate to seek to effect a three-cornered amalgamation of a wholly-owned subsidiary of Mayo and WestMountain that would result in Mayo indirectly acquiring all of the outstanding share capital of WestMountain (the "Contemplated Transaction"). The combined entity resulting from the Contemplated Transaction would continue to carry on the combined businesses of Mayo and WestMountain.

安大略省渥太華-(Newsfile Corp.-2023年8月17日)-梅奧湖礦業公司。(CSE:百萬公里)(“蛋黃醬)很高興地宣佈,它已於2023年8月2日簽訂了一份不具約束力的意向書(意向書“)與西山黃金公司(“西山意向書概述了一項可能的交易的擬議條款和條件,根據該交易,Mayo和WestMountain將進行談判,尋求實現Mayo和WestMountain的全資子公司的三角合併,從而導致Mayo間接收購WestMountain的全部已發行股本(預期交易由預期交易產生的合併實體將繼續經營Mayo和WestMountain的合併業務。

The Contemplated Transaction remains subject to Mayo and WestMountain negotiating and entering into a definitive agreement and the receipt of all regulatory and shareholder approvals. In the event a definitive agreement is reached, Mayo will issue a comprehensive press release pursuant to the policies of the Canadian Securities Exchange. THIS RELEASE IS NEITHER AN OFFER OF SECURITIES NOR A SOLICITATION OF AN OFFER TO PURCHASE SECURITIES.

考慮中的交易仍有待Mayo和WestMountain談判並達成最終協定,並獲得所有監管機構和股東的批准。如果達成最終協定,Mayo將根據加拿大證券交易所的政策發佈一份全面的新聞稿。本新聞稿既不是證券要約,也不是徵求購買證券的要約。

Information regarding WestMountain may be obtained at:

有關西山的資訊,請訪問:

Mayo's Properties:

梅奧的物業

Mayo has five properties covering 244 square kilometres where it has completed exploration over the last 12 years. Mayo plans to drill prospective gold targets within the Anderson Gold Belt and to trench its Carlin West and AJ targets at its Carlin-Roop property in September.

梅奧擁有五處房產,佔地244平方公里,在過去12年中完成了勘探。Mayo計劃在安德森金礦帶內鑽探潛在的黃金目標,並於9月份在其Carlin-Roop地產挖掘其Carlin West和AJ目標。

The reader can access a number of maps and Mayo's history in addition to property news and descriptions and the current private placement Term Sheet that it has in place seeking to complete this year's exploration at

除了房地產新聞和描述以及目前的私募條款說明書外,讀者還可以訪問一些地圖和梅奧的歷史,這些條款說明書旨在完成今年的探索,網址為

Dr. Vern Rampton P. Eng., President & CEO of Mayo stated, "The Contemplated Transaction would result in a diversified set of prospective gold properties led by Mayo. Mayo would hold an advanced-stage project with an attractive resource and prospective projects in the pipeline that are open to the discovery of upper-tier mineral deposits."

梅奧首席執行官兼首席執行官弗恩·蘭普頓·P·恩格博士總裁表示:這筆擬議中的交易將導致以Mayo為首的一系列多元化的潛在黃金地產。Mayo將持有一個具有吸引力的資源的高級專案,以及正在籌備中的對發現上層礦藏開放的預期專案。

Dr. Rampton continued, "WestMountain's properties exhibit numerous favourable characteristics, including extensive historical data and well-defined drill targets. We believe WestMountain has the potential to be a significant gold-producing asset."

蘭普頓博士繼續說道:“WestMountain的資產表現出許多有利的特徵,包括廣泛的歷史數據和明確的鑽探目標。我們相信,西山有潛力成為一項重要的黃金生產資產。

Mr. Rick Bloom, President & CEO of WestMountain commented, "We have been waiting to team up with the right partner for a number of years and only recently were introduced to Mayo, which we believe has the ideal professional group with an experienced professional understanding of the Yukon-Alaska regional mineralization, extensive work in a harsh environment and a strong commitment to environmental matters. Mayo's executives have a combined track record of successful exploration and development that underlines their capacity to unlock the significant potential of the combined company's projects."

西山公司首席執行官兼首席執行官總裁裡克·布魯姆先生評論道:多年來,我們一直在等待與合適的合作夥伴合作,直到最近才被介紹給Mayo,我們相信Mayo擁有理想的專業團隊,對育空-阿拉斯加地區的礦化具有經驗豐富的專業理解,在惡劣環境中進行廣泛的工作,並對環境問題做出堅定的承諾。梅奧的高管擁有成功勘探和開發的綜合記錄,這突顯了他們釋放合併後公司專案的巨大潛力的能力。

Contemplated Transaction - Key Items:

預期交易--關鍵專案

The LOI contemplates that Mayo would issue WestMountain shareholders that number of Mayo common shares at a deemed value of CDN$0.08 per share equivalent to 50% of the shares issued and outstanding on a fully diluted basis at the time of closing of the Contemplated Transaction, exclusive of the Merger Offering discussed in the 'Mayo Financings' below. As additional consideration, Mayo would issue two tranches of common warrants on a pro-rata basis, each tranche equal to 10% of the issued and outstanding common shares of Mayo at the time of closing calculated on a fully diluted basis. Each warrant would be exercisable for five years from the date of issuance at the market price of Mayo's common shares at the time of such closing. Each tranche would also be exercisable when the following thresholds are met: (a) delineation of a compliant gold resource relating to WestMountain consisting of a minimum of two million inferred or better ounces; and (b) a further delineation of a compliant gold resource consisting of a minimum of three million, inferred or better ounces.

意向書預計,Mayo將向WestMountain股東發行該數量的Mayo普通股,每股視為價值0.08加元,相當於預期交易完成時按完全攤薄基礎發行和發行的股份的50%,不包括下文“Mayo融資”中討論的合併要約。作為額外的考慮,Mayo將按比例發行兩批普通權證,每批相當於Mayo在成交時已發行和已發行普通股的10%,按完全攤薄的基礎計算。每份認股權證自發行之日起5年內可按Mayo公司普通股成交時的市價行使。當達到下列閾值時,每批黃金也可行使:(A)與WestMountain有關的合規黃金資源的圈定,包括至少200萬盎司或更好的盎司;及(B)至少由300萬盎司、推定或更好的盎司組成的合規黃金資源的進一步圈定。

The Mayo board of directors would be reconstituted and consist of three directors nominated by current Mayo shareholders and two directors nominated by current WestMountain shareholders.

Mayo董事會將進行重組,由現任Mayo股東提名的三名董事和現任WestMountain股東提名的兩名董事組成。

Mayo would assume a principal amount of US $3 million of WestMountain secured notes and accrued interest maturing on February 7, 2025.

Mayo將假設本金為300萬美元的WestMountain擔保票據和2025年2月7日到期的應計利息。

Mayo Financings:

梅奧融資

Mayo is currently advancing its previously-announced (April 5, 2023) private placement of common share units ("CS Units") $0.06 per CS Unit and flow-through units ("FT Units") @ $0.08 outside of the U.S. for aggregate gross proceeds of up to CAD$1,400,000 (the "Offering").

Mayo目前正在推進之前宣佈的(2023年4月5日)私募普通股單位的計劃(“政務司司長單位“)每個CS單元和直通單元0.06美元(”FT單位“)@美國境外的0.08美元,總收益高達1,400,000加元(”供奉“)。

Subsequent to the completion of Mayo's current private placement, Mayo intends to conduct a second private placement outside of the U.S. for minimum gross proceeds of CAD$1,400,000, and a maximum of CAD$2,800,000 (the "Merger Offering").

在完成Mayo目前的私募後,Mayo打算在美國以外進行第二次私募,最低總收入為140萬加元,最高為280萬加元(合併報價“)。

FURTHER DETAILED INFORMATION REGARDING THE MERGER AND FINANCINGS MAY BE OBTAINED AT:
and

有關合並和融資的更多詳細資訊,請訪問:

Statement of Qualified Person:

合資格人士的陳述

The technical and scientific information contained in this news release has been reviewed and approved by Dr. Vern Rampton, P.Eng., a Qualified Person as defined by National Instrument 43-101 Standard of Disclosure for Mineral Projects ("NI 43-101").

本新聞稿中包含的技術和科學資訊已由國家儀器43-101定義的合格人員Vern Rampton博士(P.Eng)審查和批准《礦產專案資訊披露標準》(“NI 43-101”)。

About Mayo Lake Minerals Inc.:

關於梅奧湖礦業公司

Mayo is actively engaged in the exploration and development of five precious metal projects in the Tombstone Gold (Plutonic) Belt of the Tintina Gold Province (Figure One and Table One). The properties cover 244 square kilometres in the Yukon's Mayo Mining District and lie within the traditional territory of the Na-Cho Nyäk Dun First Nation. Mayo is presently focusing on its two significant properties; the Carlin-Roop Silver Project lying within the Keno Hill Silver District and the Anderson-Davidson gold property. Two active mines, the Victoria Gold's Eagle Gold Mine and Hecla Mining's Keno Silver Mine, are nearby.

梅奧積極參與廷提納金礦省墓碑金(深成)帶五個貴金屬專案的勘探開發(圖一、表一)。這些財產在育空地區的梅奧礦區佔地244平方公里,位於Na-Cho Nyäk Dun First Nation的傳統領土內。梅奧目前專注於其兩個重要的資產:位於基諾山銀區的卡林-魯普白銀專案和安德森-戴維森金礦。附近有兩個活躍的礦山,維多利亞黃金的鷹金礦和赫克拉礦業的基諾銀礦。

For additional information, please contact:
Vern Rampton, Ph.D., P.Eng. President & CEO; vrampton@mayolakeminerals.com
Tyrell Sutherland, M.Sc., P. Geo., VP Exploration; tsutherland@mayolakeminerals.com
Darrell Munro, BB.A, LL.B Corporate Administrator; dmunro@mayolakeminerals.com

如需更多資訊,請聯繫
弗恩·蘭普頓,博士,P.Eng.首席執行官總裁電子郵箱:vrampton@mayolakemineals.com
Tyrell Sutherland,M.Sc.,P.Geo,勘探副總裁;tsutherland@mayolakemineals.com
達雷爾·芒羅,BB.A,LL.B公司管理員;dmunro@mayolakemineals.com

About WestMountain Gold, Inc.:

關於西山黃金公司

WestMountain is a junior mineral exploration and development company that is seeking to explore and develop its current prospective advanced-stage gold project in Alaska consisting of 339 unpatented lode mining claims and five unpatented lode mining claims.

WestMountain是一家初級礦產勘探和開發公司,正尋求勘探和開發其目前在阿拉斯加的預期高級階段金礦專案,該專案包括339個未獲專利的礦脈開採主張和5個未獲專利的礦脈開採主張。

For additional information, please contact:
Rick Bloom, President & CEO: rick@westmountaingold.com

如需更多資訊,請聯繫
裡克·布魯姆,總裁&首席執行官:Rick@westmount taingold.com

Cautionary Statement Regarding Forward-Looking Information

關於前瞻性資訊的警示聲明

This news release contains forward‐looking statements within the meaning of applicable securities laws. All statements other than statements of historical fact should be considered forward‐looking statements. The forward‐looking statements are based on certain expectations and assumptions made by management of Mayo and WestMountain.

本新聞稿包含符合適用證券法的前瞻性陳述。除歷史事實以外的所有陳述均應被視為前瞻性陳述。前瞻性陳述是基於梅奧和西山公司管理層做出的某些預期和假設。

Forward-looking statements are provided for the purpose of providing information about the current expectations and plans of management of Mayo and WestMountain. Readers are cautioned that reliance on such statements and information may not be appropriate. Since forwardlooking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results could, and often do, differ materially from those currently anticipated due to a number of factors and risks, many of which are beyond the control of Mayo and WestMountain. Accordingly, readers should not place undue reliance on the forward‐looking statements contained in this news release. Because Mayo and WestMountain have entered into a non-binding letter of intent, there is no assurance whatsoever that the Contemplated Transaction will occur. Further, there is no assurance that Mayo will be able to raise the necessary capital to proceed with the Contemplated Transaction. Both Mayo and WestMountain have limited capital. The forward‐looking statements contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forwardlooking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

提供前瞻性陳述的目的是提供有關梅奧和西山公司目前的管理期望和計劃的資訊。提醒讀者,依賴這樣的聲明和資訊可能是不合適的。自轉發以來-前瞻性陳述和資訊涉及未來的事件和情況,就其性質而言,它們涉及固有的風險和不確定性。由於許多因素和風險,實際結果可能並經常與目前預期的結果大不相同,其中許多因素和風險超出了梅奧和西山公司的控制範圍。因此,讀者不應過分依賴本新聞稿中包含的前瞻性陳述。由於梅奧和WestMountain已經簽訂了一份不具約束力的意向書,因此不能保證預期的交易將會發生。此外,不能保證Mayo將能夠籌集到必要的資本,以繼續進行擬議中的交易。梅奧和西山都有有限的資金。本新聞稿中包含的前瞻性陳述是截至本文發佈之日的陳述,不承諾公開更新或修改任何前瞻性陳述。-除非適用的證券法要求,否則不得因新資訊、未來事件或其他原因而作出前瞻性陳述。本新聞稿中包含的前瞻性陳述明確地受到本警示性聲明的限制。

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

加拿大證券交易所及其市場監管機構(該術語在加拿大證券交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。

THIS RELEASE IS NOT FOR DISTRIBUTION TO NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

本新聞稿不向新聞通訊社分發,也不在美利堅合眾國傳播。

Table 1. Tintina Gold Belt Intrusion Related Gold Deposits
Deposit and Owner Resources
Donlin (NovaGold Resources/Barrick Gold) Measured and Indicated: 39.0 million ounces at 2.2g Au/t 1.
Livengood (International Tower Gold) Measured and indicated resources: 13.6 million ounces gold at 0.6g Au/t 2.
Fort Knox (Kinross Gold) Estimated Production to 2020; 8.7 ± million ounces gold; continued production forecast to 2030 3.
Golden Summit (Freegold Ventures) Indicated: 12.7 million ounces at 6.90g Au/t; Inferred 8.6 million ounces at 0.86g Au/t 4.
Pogo (Northern Star Resources) Indicated: 3.4 million ounces at 10.9g Au/t;
Inferred: 3.8 million ounces at 10.7g Au/t; Commenced production 2006. 5
Dublin Gulch Eagle (Victoria Gold) Measured and Indicated resources: 4.4 million ounces at 0.6g Au/t; Inferred 0.5 ounces at 0.5g Au/t 6.
Coffee (Newmont Gold) Measured and Indicated 2.1 million ounces at
1.2 g Au/t; Inferred 0.3 million ounces at
1.00g Au/t 7.
Rogue (Snowline Gold) DHV-23-034 -418.3m at 1.88g Au/t; inc. 216m at 3.1g Au/t and 121m at 4.1g Au/t; DHV23-029-553.8m at 2.48g Au/t, inc. 132.0m at 4.89g Au/t 8.
Whistler (US Gold Mining) Indicated: 3.0 million ounces at 0.79g AuEq/t;
Inferred: 6.5 million ounces at 0.63g AuEq/t 9.
Estelle (Nova Minerals) Measured and Indicated: 3.4 million ounces at 0.52g Au/t;
Inferred: 6.5 million ounces at 0.3gAu/t 10.
AurMac (Banyan Gold) Inferred: 6.2 million ounces at 0.6g Au/t 11.
Casino (Western Copper and Gold) Measured and indicated: 12.9 million ounces at 0.2g Au/t; Inferred: 6.1 million ounces at 0.14g Au/t12.
表1.與廷提納金礦帶侵位有關的金礦
保證金和所有者 資源
Donlin(NovaGold Resources/Barrick Gold) 測量和指示:3900萬盎司,2.2g Au/噸1
利文古德(國際金塔) 已測量和指示的資源量:1360萬盎司黃金,0.6g金/噸2.
諾克斯堡(Kinross Gold) 預計到2020年的產量;870萬盎司黃金;預計到2030年繼續生產3.
黃金峰會(Golden Summit)(Freegold Ventures) 指示:1,270萬盎司,按6.90克Au/噸計算;推斷860萬盎司,按0.86克Au/噸計算4.
POGO(北極星資源) 標價:340萬盎司,金價10.9克/噸;
推斷:380萬盎司,10.7克Au/噸;2006年開始生產。5.
都柏林古爾奇之鷹(維多利亞金牌) 已測量和指示的資源量:440萬盎司,0.6g Au/噸;推斷0.5盎司,0.5g Au/噸6.
咖啡(紐蒙特黃金) 已測量並顯示為210萬盎司
1.2克Au/噸;推算為30萬盎司
1.00克Au/噸7.
《盜賊》(雪線金色) DHV-23-034-418.3M,1.88g Au/t;Inc.216m,3.1g Au/t,121m,4.1g Au/t;DHV23-029-553.8米,2.48克金/噸,Inc.132.0米,4.89克金/噸8個個
惠斯勒(美國金礦) 表示:300萬盎司,0.79g AuEq/t;
推算:650萬盎司,0.63克AuEq/噸9.
埃斯特爾(Estelle)(Nova Minerals) 測量和指示:340萬盎司,0.52克金/噸;
推算:650萬盎司,0.3gAu/噸10
AurMac(榕樹金) 推斷:以0.6克Au/噸計算的620萬盎司11.
賭場(西部銅金) 測量和指示:1290萬盎司,按0.2g Au/噸計算;推斷:610萬盎司,按0.14g Au/t計算12

1novagold.com; NI 43-101 Technical Report on the Donlin Gold Project, Alaska, U.S.A., prepared by Rick Hanson, Michael Woloschuk, Henry Kim, Wood Canada Ltd; June 1, 2023.
2ithmines.com; NI 43-101. Livengood Gold Project NI 43-101 Technical Report on Pre-feasibility Study, prepared by Colin Hardie, Jeffrey Cassoff, Melanie Turgeon, Ryan Baker, Michael Levy and Scott Wilson, Resource Development Associates; December 17, 2021.
3kinross.com (2023); Wikipedia web-site. Estimates of produced ounces.
4freegoldventures.com; NI 43-101. Updated Mineral Resource Estimate, prepared by Greg Mosher and Maurice Marks, Tetra Tech Canada; February 21, 2023.
5nsrltd.com; JORC Compiled Resource Estimate, prepared by Jabulin Machukera, Jeff Brown; November 2022.
6vgcx.com; NI 43-101 Technical Report, Eagle Gold Mine, Yukon Territory, Canada, prepared by Nico Harvey, Paul Gray, Jeff Winterton, Marc Jutras and Michael Levy; December 31, 2022.
7newmont.com; news-release/news-detail/2023/Newmont-Annouras-increased-2022-Mineral Reserves-of-96-million-gold ounces-and-68-million-gold-equivalent ounces/default.aspx; December 31, 2022.
8snowlinegold.com/news.
9usagoldmining.us; NI 43-101, Mineral Resource Estimate of the Whistler Project, prepared by Sue Bird, Kirstin Girdner and Arthur Baines, Moose Mountain Technical Services; June 11. 2021.
10wcsecure.weblink.com.au/pdf/NVA/02665881.pdf; JORC. Robust Phase 2 Scoping Study for the Estelle Gold Project, prepared by Jonathan Abbott, Matrix Consultants, September 20, 2022.
11banyangold.com; NI 43-101. Technical Report AurMac Property, Mayo Mining District, Yukon, Canada, prepared by Marc Jutras (Gino Consulting), Tawnya Thornton (JDS Energy & Mining Inc) and Deepak Malhotra (Forte Dynamics); May 18, 2023.
12westerncopperandgold.com; For NI 43-101 F1 Technical Report Feasibility Study Yukon, Canada, prepared by Daniel Roth, Mike Hester, John M. Marek, Laurie M. Tahija, Carl Schulze, M3 Engineering & Technology Corp in association with Independent Mining Consultants, Knight Piesold Ltd., Aurora Geosciences and Hemmera; August 8, 2022.

1Novagold.comNI 43-101美國阿拉斯加東林金礦專案技術報告,由Rick Hanson,Michael Woloschuk,Henry Kim,Wood Canada Ltd編寫;2023年6月1日。
2.Ithmines.com;NI 43-101。利文古德黃金專案NI 43-101預可行性研究技術報告,由科林·哈迪、傑弗裡·卡索夫、梅勒妮·特金、瑞安·貝克、邁克爾·利維和斯科特·威爾遜編寫;2021年12月17日。
3.Kinross.com(2023);維基百科網站。對已生產盎司的估計。
4.Freegoldventures.com;NI 43-101。更新的礦產資源估計,由加拿大利樂技術公司的Greg Mosher和Maurice Marks準備;2023年2月21日。
5.Nsrltd.comJORC匯編的資源估計,由Jumulin Machukera編寫,Jeff·布朗;2022年11月。
6.Vgcx.comNI 43-101,加拿大育空地區鷹金礦技術報告,尼科·哈維、保羅·格雷、Jeff·溫特頓、梅克·朱特拉斯和邁克爾·利維編寫;2022年12月31日。
7.Newmont.com;news-release/news-detail/2023/Newmont-Annouras-increased-2022-Mineral儲量-9600萬黃金盎司和6800萬黃金當量盎司/default.aspx;2022年12月31日。
8個個Snowlinegold.com/新聞
9.Usagoldmining.us;NI 43-101,惠斯勒專案的礦產資源評估,由Sue Bird、Kirstin Girdner和Arthur Baines編寫,Moose Mountain技術服務;2021年6月11日。
10Wcsecure.weblink.com.au/pdf/nva/02665881.pdf;JORC。埃斯特爾黃金專案的穩健第二階段範圍研究,由Jonathan Abbott準備,矩陣諮詢公司,2022年9月20日。
11.Banyangold.com;NI 43-101。加拿大育空梅奧礦區AurMac Property,由Marc Jutas(Gino Consulting)、Tawnya Thornton(JDS Energy&Mining Inc.)和Deepak Malhotra(Forte Dynamic)編寫;2023年5月18日。
12Westerncopperandgold.com;由Daniel·羅斯、Mike·海斯特、約翰·M·馬雷克、勞裡·M·塔希亞、卡爾·舒爾茨、M3工程技術公司與獨立礦業諮詢公司、Knight Piesold Ltd.、Aurora Geosciences和Hemmera聯合編寫的NI 43-101 F1技術報告,加拿大育空;2022年8月8日。

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