New Klondike Exploration Ltd.

News Detail

New Klondike Sells Red Lake Royalty Interest

Date : Feb 24, 2015
New Klondike Exploration Ltd. (TSXV: NK) (“New Klondike” or the “Company”) is pleased to announce that it has closed the sale of a 1% net smelter returns royalty interest (the “NSR”) to Franco-Nevada Corporation in consideration for $50,000 for all of the Company’s right, title and interest in the NSR. The NSR was originally granted to the Company in 1993 as partial consideration for the purchase of the Company’s 50% interest in 54 patented mining claims in the Red Lake area. The underlying claims are presently owned by Pure Gold Mining Inc. and form part of their Madsen Gold Project which they are continuing to explore. The NSR has a capped payout of $1 million.
 
About New Klondike
New Klondike is an Ontario focused mineral exploration and development company with a primary objective of exploring for and developing base and precious metal deposits on its Goldstorm Project. The Company presently has 20,415,545 common shares issued and outstanding. For further information about New Klondike, please visit our website www.newklondike.com, or contact Michael Coulter, President at 416-368-3332 or by email: info@newklondike.com.
 
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