Cloudbreak Discovery PLC Norseman Completes Acquisition of Caribou (3588Q)
28 Junio 2022 - 1:00AM
UK Regulatory
TIDMCDL
RNS Number : 3588Q
Cloudbreak Discovery PLC
28 June 2022
28 June 2022
Cloudbreak Discovery Plc
("Cloudbreak" or the "Company")
Norseman Completes Acquisition of Caribou Property and Executes
Royalty Agreement
Cloudbreak Discovery Plc (LSE: CDL), a leading natural resources
project generator with a particular focus on commodities key to the
energy transition, is pleased to announce that Norseman Silver Inc
("Norseman") (TSX-V: NOC) has fulfilled the obligations under the
option agreement it entered into with Cloudbreak on 2 June 2020 and
completed the royalty assignment agreement, ratifying Cloudbreak a
2% net smelter royalty ("NSR") covering the Caribou property
("Caribou" or the "Property").
Caribou Option Agreement Highlights
-- Norseman has made payments in aggregate of CAD $80,000 to Cloudbreak;
-- Issued 2,750,000 common shares to Cloudbreak; and
-- Has made an aggregate of CAD $225,000 expenditure on the property.
The work on the property was conducted by Hardline Exploration
Corp. in 2021 and the results of the work was released by Norseman
on 22 February 2022 titled "Exploration Results on Norseman's
Caribou Copper-Silver Project, British Columbia".
Kyler Hardy, President and CEO of Cloudbreak Discovery,
commented, "It is great to see our model working successfully and
have one of our partners complete their option. This project
exemplifies how Cloudbreak can generate interesting ideas with
significant exploration upside for our partners and demonstrates to
our shareholders how our model is designed to work. The royalty and
share position that Cloudbreak retains will continue to provide
exposure to the future upside of the property and allow us to
pursue new ideas as we generate them."
About the Caribou Project
The Caribou Project is located 23 kilometers southwest of
Smithers, British Columbia, Canada. The property is underlain by
unmetamorphosed flows and tuffs of the Hazelton Group. The area is
divided into fault blocks which have locally moved horizontally as
well as vertically to one another. These fault blocks have also
been rotated. Mineralization observed to date as vein and veinlets
which include bornite, malachite, azurite, chalcopyrite, pyrite,
chalcocite and digenite, with results including 45 rock samples on
the property have yielded assay results greater than 1% copper.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
Qualified Person
Mr. Rory Kutluoglu P. Geo., Chief Operation Officer of the
Company, is the Qualified Person under NI 43-101 for the technical
information in this news release, has verified the data disclosed
and approves the technical contents contained in this news
release.
For additional information please contact:
Cloudbreak Discovery Tel: +1 604 428 9480
PLC
Kyler Hardy, CEO khardy@cloudbreakdiscovery.com
Novum Securities Tel: +44 7399 9400
(Financial Adviser)
David Coffman / Lucy
Bowden
Shard Capital Partners Tel: +44 207 186 9900
(Broker)
Damon Heath / Isabella
Pierre
BlytheRay Tel: +44 207 138 3204 Cloudbreak@blytheray.com
(Financial PR/IR-London)
Tim Blythe
Megan Ray
Stellium Services Tel: +44(0)207 129 Cloudbreak@StelliumServices.com
(Investor Relations) 1205
www.StelliumServices.com Andrew Wilson
Claire Bowden
About Cloudbreak Discovery PLC
Cloudbreak Discovery PLC is a leading natural resources project
generator building value by evaluating and acquiring quality
projects with a particular focus on resources key to the energy
transition. Our projects are developed and managed by an
experienced team with a proven track record of delivering on
mineral and energy investments. Cloudbreak's generative model
enables a multi-asset approach to investing and exploration with
diversification across commodities and jurisdictions as the key to
withstanding the cycles of natural resources investing.
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END
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June 28, 2022 02:00 ET (06:00 GMT)
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