Spartacus Metals agrees to sell Red Lake property to Great Bear Resources for CAD 250,000 plus 2% royalty
KGC•Spartacus Metals agreed to sell its Red Lake Property to Great Bear Resources, a wholly owned Kinross Gold subsidiary, for CAD 250,000 and a 2% net smelter returns royalty.
1. Sale terms
The Red Lake Property in northwestern Ontario comprises 586 unpatented mining claims covering approximately 11,913 hectares. Great Bear can buy back half the royalty for USD 1 million, reducing it to 1%.
2. Expected closing
Closing is expected by December 15, 2026, subject to TSX Venture Exchange approval and shareholder approval if required.
