Riley Gold executes US$20 million earn-in agreement with Kinross Gold on its PWC Gold Project

1 minute read
14 May 2024

On March 14, 2024, Riley Gold Corp. (TSXV: RLYG) (OTCQB: RLYGF) announced that it had entered into an exploration and venture option agreement with Kinross Gold U.S.A., Inc. ("Kinross"), a wholly-owned subsidiary of Kinross Gold Corporation (TSX: K) (NYSE: KGC), granting Kinross the right to earn up to a 75% interest in Riley Gold’s Pipeline West/Clipper Gold Project ("PWC") in Nevada by spending a minimum of US$20 million.

Kinross will assume operatorship of the project immediately as well as take a strategic 9.9% (on a partially diluted basis) equity interest in Riley Gold through a private placement.

Riley Gold is an exploration and development company focused in Nevada.

Cyndi Laval and Raymond Ong of Gowling WLG advised Riley Gold with respect to this agreement and private placement.

NOT LEGAL ADVICE. Information made available on this website in any form is for information purposes only. It is not, and should not be taken as, legal advice. You should not rely on, or take or fail to take any action based upon this information. Never disregard professional legal advice or delay in seeking legal advice because of something you have read on this website. Gowling WLG professionals will be pleased to discuss resolutions to specific legal concerns you may have.