BRIEF-Riversgold Says Signed Cash & Earn-In Agreement With Mamba Minerals Llc

Reuters

Published May 25, 2020 08:40

May 25 (Reuters) - Riversgold Ltd RGL.AX :

* SIGNED CASH & EARN-IN AGREEMENT WITH MAMBA MINERALS LLC FOR ITS GOLD EXPLORATION PORTFOLIO IN SOUTHWEST ALASKA

* MAMBA MINERALS LLC CAN EARN 30% INTEREST THROUGH US$1 MLN CASH PAYMENTS OVER 12 MONTHS

* FIRST EARN-IN OF US$2 MLN SPEND TO SECURE 49% OF PROJECT

* MAMBA MINERALS LLC CAN SPEND US$5 MLN OVER 3 YEARS TO EARN UP TO 70% OF PROJECT

* SECOND EARN-IN OF FURTHER US$3 MLN WILL TAKE MAMBA MINERALS INTEREST TO 70%

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