Ramp Metals Inc. (TSXV: RAMP) (‘Ramp Metals’ or the ‘Company’) is pleased to announce the proposed sale of the Company’s Railroad Valley Project located in Nye County, Nevada, to Canter Resources Corp. (CSE: CRC) (‘Canter’).

On September 11, 2024, Ramp Metals USA Inc, a wholly owned subsidiary of Ramp Metals (‘Ramp USA’), entered into a claims acquisition agreement with Canter and an indirect wholly owned subsidiary of Canter pursuant to which Ramp USA agreed to sell its 100% interest in 50 unpatented association placer claims to Canter’s subsidiary in exchange for (i) 300,000 common shares of Canter at a deemed price of $0.13 share and (ii) the reimbursement of certain claim maintenance fees recently paid by Ramp USA.

The Canter entities are responsible for paying any fees associated with the transfer of the claims and Ramp USA will retain a 0.5% net smelter returns royalty on the claims. Canter’s subsidiary has the ability to repurchase the royalty for a one-time payment of $500,000 to Ramp USA.

The transaction remains subject to regulatory approval with a targeted closing date of September 19, 2024.

Field Exploration Update

The Company is currently planning a 14-day mapping and sampling program that will focus on the Ranger target where 73.55 g/t Au over 7.5m was discovered at its Rottenstone SW Project. Ramp Metals has contracted Axiom Exploration Group, located in Saskatoon, to assist with the field exploration. Three teams will be in the field mapping the area around the Ranger discovery hole and along regional strike. The goal of the mapping and sampling program is to gather information on the surface geology to better understand the mineralization and refine priority targets for the upcoming drill program.

Qualified Person

Brett Williams, P.Geo., VP Operations and Senior Geologist for Ramp Metals, and a ‘qualified person’ under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content in this news release.

About Ramp Metals Inc.

Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold district. The Company currently has new high-grade gold discovery of 73.55 g/t Au over 7.5m at its flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is situated in the Rottenstone Domain.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS

This news release contains ‘forward-looking statements’ within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or variations of such words and phrases or may contain statements that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will be taken’, ‘will continue’, ‘will occur’ or ‘will be achieved’. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company’s exploration activities.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223150

This post appeared first on investingnews.com