NeoTerrex Minerals signs option deal with Fury Gold unit for up to 100% of Québec Reservoir project
FURY•NeoTerrex Minerals signed an option agreement with Fury Gold Mines unit Eastmain Resources to acquire the Reservoir Cu-Au-Ag-W project in Québec. NeoTerrex can earn up to 100% ownership through CAD 500,000 in staged payments and CAD 3 million in exploration spending by Dec. 31, 2030.
1. Option agreement terms
The agreement gives NeoTerrex the right to earn up to 100% of the project through staged payments of CAD 500,000 and CAD 3 million in exploration spending by Dec. 31, 2030. Fury would retain a 2% net smelter returns royalty, with NeoTerrex able to buy back 1% for CAD 1 million before production. The terms also include a potential strategic joint venture after an intermediate earn-in milestone.
