0001493152-21-012267.txt : 20210519 0001493152-21-012267.hdr.sgml : 20210519 20210519171948 ACCESSION NUMBER: 0001493152-21-012267 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20210519 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20210519 DATE AS OF CHANGE: 20210519 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Nevada Canyon Gold Corp. CENTRAL INDEX KEY: 0001605481 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 465152859 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-55600 FILM NUMBER: 21941291 BUSINESS ADDRESS: STREET 1: 316 CALIFORNIA AVENUE STREET 2: SUITE 543 CITY: RENO STATE: NV ZIP: 89509 BUSINESS PHONE: 888-909-5548 MAIL ADDRESS: STREET 1: 316 CALIFORNIA AVENUE STREET 2: SUITE 543 CITY: RENO STATE: NV ZIP: 89509 FORMER COMPANY: FORMER CONFORMED NAME: Tech Foundry Ventures, Inc. DATE OF NAME CHANGE: 20140414 8-K 1 form8-k.htm

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of Earliest Event Reported) May 19, 2021

 

NEVADA CANYON GOLD CORP.

(Exact Name of Registrant as Specified in its Charter)

 

Nevada   000-55600   46-5152859
(State or other jurisdiction
of incorporation)
  (Commission
File number)
  (IRS Employer
Identification No.)

 

316 California Ave., Suite 543, Reno, NV 89509

(Address of principal executive offices) (zip code)

 

Registrant’s telephone number, including area code (888) 909-5548

 

 

 

(Former name or former address, if changed since last report.)

 

Copies to:

Janus Capital Law Group

Attn.: Deron Colby, Esq.

22 Executive Park, Suite 250

Irvine, California 92614

Phone: (949) 633-8965

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

  

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, $0.0001 par value   NGLD   OTC Markets (Pinks)

  

 

 

 
 

 

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

 

Exploration Lease with Option to Purchase Agreement

 

On May 19, 2021, Nevada Canyon Gold Corp. (“NCG”) entered into Exploration Lease with Option to Purchase Agreement (the “Agreement”) with MSM Resource, L.L.C., (“MSM”) a Nevada limited liability Corporation on the Agai-Pah Property, consisting of twenty unpatented mining claims totaling 400 acres, located in sections 32 & 33, T4N, R34E, MDM, Mineral County, Nevada about 10 miles northeast of the town of Hawthorne (the “Property”).

 

The term of the Agreement commences on May 19, 2021, and continues for ten (10) years, subject to NCG’s right to extend the Agreement for two (2) additional terms of ten (10) years each, and subject to NCG’s option to purchase the Property.

 

Full consideration of the Agreement consists of the following: i.) an initial cash payment of $20,000 to be paid within 90 days from the execution of the Agreement on May 19, 2021 (the “effective date”), and ii.) annual payments of $20,000 to be paid on the anniversary of the Effective Date while the Agreement remains in effect. NCG has the exclusive option and right to acquire 100% ownership of the Property (the “Purchase Option”). To exercise the Purchase Option, NCG will be required to pay Seven Hundred Fifty Thousand Dollars ($750,000) (the “Purchase Price”). The Purchase Price can be paid in either cash and/or equity of NCG, or a combination thereof, at the election of MSM. The annual payments paid by NCG to MSM, shall not be applied or credited against the Purchase Price.

 

A copy of the Exploration Lease with Option to Purchase Agreement dated May 19, 2021 is attached as Exhibit 10.06 hereto.

 

ITEM 7.0 REGULATION FD DISCLOSURE

 

On May 19, 2021, the Company issued a news release announcing it had entered into an Exploration Lease with Option to Purchase Agreement on the Agai-Pah Property, located in Mineral County Nevada, further described in Item 1.01 of this Form 8-K. A copy of the news release is attached as Exhibit 99.1 hereto.

 

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

 

Exhibit No.

  Description
     
10.06  

Exploration Lease with Option to Purchase Agreement, dated May 19, 2021

     

99.01

 

News Release dated May 19, 2021

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

 

NEVADA CANYON GOLD CORP.  
     
By: /s/ Jeffrey Cocks  
  Jeffrey Cocks  
  President and Chief Executive Officer  
     
Date: May 19, 2021  

 

 

 

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Exhibit 10.06

 

Exploration Lease with Option To Purchase Agreement
Agai-Pah Property

 

This Exploration Lease with Option To Purchase Agreement for the Agai-Pah Property (“the Agreement”) is made and entered into, by and between MSM Resource, L.L.C., a Nevada Corporation with an office at Suite 15, 5655 Riggins Court, Reno NV 89502 (“the Owner”), Nevada Canyon Gold Corp. a Nevada Corporation with an office at Suite 543, 316 California Avenue Reno, NV 89509 (“NCG”).

 

Recitals

 

A. The Owner is the beneficial and registered holder of a 100% undivided interest in twenty unpatented lode mining claims, more particularly described in Exhibit “A” attached to and by this reference incorporated in this Agreement (collectively the “Property”) within Mineral County, Nevada. NCG wishes to enter into this Exploration Lease with Option to Purchase Agreement in the Property from the Owner.

 

B. Owner desires to lease and to grant to NCG the option to purchase an 100% undivided interest in the Property on the terms and conditions of this Agreement.

 

C. Now, therefore, in consideration of their mutual promises, the parties agree as follows:

 

1. Definitions. The following defined terms, wherever used in this Agreement, shall have the meanings described below:

 

1.1 “$” or “dollars” shall mean references to the currency of the United States of America.

 

1.2 “Deed” means the conveyance to be executed and delivered by Owner to NCG on NCG’s exercise and closing of the Option.

 

1.3 “Effective Date” means May 19, 2021.

 

1.4 “Governmental Regulations” means all directives, laws, orders, ordinances, regulations and statutes of any federal, state or local agency, court or office.

 

1.5 “Lease Year” means each one (1) year period following the Effective Date and each anniversary of the Effective Date.

 

1.6 “Minerals” means all minerals and mineral materials, including, without limitation, gold, silver, platinum and platinum group metals, base metals (including, for example, antimony, chromium, cobalt, copper, lead, manganese, mercury, nickel, molybdenum, titanium, tungsten, zinc), and other metals and mineral materials which are on, in or under the Property.

 

1.7 “Minimum Payments” means the minimum payments payable by NCG in accordance with Section 4.2.

 

1.8 “Option” means the option and right granted by Owner to NCG to purchase the Property in accordance with Section 5.

 

1.9 “NCG” means Nevada Canyon Gold Corp., a Nevada corporation, and its parents, successors and assigns.

 

1.10 “Owner” means MSM Resource, LLC., and its successors and assigns.

 

1.11 “Property” means the unpatented mining claims situated in Mineral, County Nevada more particularly described in Exhibit A hereto.

 

1
 

 

2. Lease and Grant of Rights. Owner will Lease the Property exclusively to NCG and grants to NCG the rights and privileges described in this Section.

 

2.1 Lease. Owner leases to NCG and grants to NCG the right to use the Property for the purposes of exploration for Minerals. NCG must exercise the Option to purchase the Property before NCG commences the development of a mine or mine-related facilities or commences mining on the Property.

 

2.2 Water Rights. Subject to the regulations of the State of Nevada concerning the appropriation and taking of water, NCG shall have the right to appropriate and use water, to drill wells for the water on the Property and to lay and maintain all necessary water lines as may be required by NCG in its operations on the Property.

 

3. Term. The term of this Agreement shall commence on the Effective Date and shall continue for ten (10) years, subject to NCG’s right to extend this Agreement for two (2) additional terms of ten (10) years each, and subject to NCG’s right to purchase the Property in accordance with Section 5.

 

4. Lease Payments. NCG shall make the following payments to Owner;

 

4.1 Annual Minimum Payments. On or at any time within ninety (90) days of the parties’ execution of this Agreement, (the “Effective date”), NCG shall pay to Owner the sum of twenty thousand dollars ($20,000.00). Following the Effective Date, NCG shall pay the following Minimum Payments to Owner:

 

First anniversary of Effective Date  $20,000 
Second anniversary of Effective Date  $20,000 
Third anniversary of Effective Date  $20,000 
Fourth anniversary of Effective Date  $20,000 
Fifth anniversary of Effective Date  $20,000 
Sixth and any succeeding anniversary of the Effective Date  $20,000 

 

None of the above Annual Minimum Payments provided in this Section shall not be credited against the Purchase Price if NCG elects to exercise the Option. NCG shall not be obligated to pay the Annual Minimum Payments referenced above, after the exercise and closing of the Option To Purchase.

 

4.2 Method of Payment. NCG shall pay all payments under this Agreement by method approved by Owner.

 

5. Option to Purchase. Owner grants to NCG the exclusive option and right to acquire ownership of the Property (the “Option”). The purchase price of the Property shall be Two Hundred Thousand Dollars ($750,000.00) (the “Purchase Price”). The Purchase Price can be paid in either cash and/or equity of NCG, or a combination thereof, at the election of the Owner. The Minimum Payments paid by NCG to Owner shall not be applied or credited against the Purchase Price.

 

5.1 Notice of Election. If NCG elects to exercise the Purchase Option, NCG shall deliver written notice to Owner. On Owner’s receipt of NCG’s notice of exercise of the Option, the parties shall make diligent efforts to close the conveyance of the Property and shall do so within thirty (30) days after NCG’s delivery of the notice.

 

5.2 Transfer of Fees and Taxes. If NCG exercises the Option, NCG shall pay the Bureau of

Land Management mining claim transfer fees, the real property transfer taxes, if any, and all recording costs incurred in closing of the Option.

 

5.3 Payment on Closing. On closing of the Option, NCG shall pay the Purchase Price to Owner.

 

2
 

 

5.4 Owner’s Deliveries on Closing. If NCG exercises and closes the Option, Owner shall execute and deliver to NCG a conveyance of the Property Owner shall execute and deliver to NCG a declaration of value to be submitted on recording of the Deed and an affidavit of non-foreign taxpayer status in accordance with Internal Revenue Code Section 1445.

 

5.5 Effect of Closing. On closing of the Option, NCG shall own a 100% undivided interest of the Property, free and clear of any encumbrances.

 

6. Compliance With The Law. NCG shall, at NCG’s sole cost, comply with all Governmental Regulations relating to the condition, use or occupancy of the Property by NCG, including but not limited to all exploration and development work performed by NCG during the term of this Agreement. NCG shall, at its sole cost, promptly comply with all applicable Governmental Regulations regarding reclamation of the Property. Owner agrees to cooperate with NCG in NCG’s application for governmental licenses, permits and approvals, the costs of which shall be borne by NCG.

 

7. NCG’s Work Practices and Reporting.

 

7.1 Work Practices. NCG shall work the Property in a miner-like fashion.

 

7.2 Inspection of Data. During the term of this Agreement, Owner and Owner’s representatives shall have the right to examine and make copies of the technical data regarding the Property in NCG’s possession during reasonable business hours and upon prior notice, provided, however, that the rights of Owner to examine such data shall be exercised in a manner that does not interfere with the operations of NCG.

 

8. Scope of Agreement. During the term of the Option, this Agreement shall extend to and include the unpatented mining claims described in this Agreement (and any amendments or relocations of the unpatented mining claims), including any unpatented mining claims amended or located by the parties to fill any fractions or gaps among the unpatented mining claims which constitute the Property or among the unpatented mining claims and any fee lands adjacent to or near the unpatented mining claims which constitute the Property. NCG’s obligations under this Section shall not apply to any unpatented mining claims acquired by NCG from an unaffiliated third party in an arm’s length transaction. NCG agrees and covenants that this Section shall be binding on NCG and NCG’s affiliates and any assignee of this Agreement and the affiliates of any such assignee.

 

9. Liens. NCG agrees to pay all indebtedness and liabilities incurred by or for NCG arising from or relating to NCG’s activities on the Property, except that NCG need not discharge or release any such lien, charge or encumbrance so long as NCG is contesting the same in good faith, provided that if a judgment is entered which affirms or authorizes foreclosure on the lien, NCG promptly, and before foreclosure of the lien, shall pay, post a bond to secure payment of the lien, or otherwise cause the discharge and release of the lien. NCG must comply with the requirements of NRS 108.2403.

 

10. Taxes.

 

10.1 Real Property Taxes. Owner shall pay any and all taxes assessed and due against the Property before the Effective Date. NCG shall pay promptly before delinquency all taxes and assessments, general, special, ordinary and extraordinary, that may be levied or assessed and due against the Property after the Effective Date and during the term of this Agreement. All such taxes for the year in which this Agreement is executed and for the year in which this Agreement terminates shall be prorated between Owner and NCG, except that neither Owner nor NCG shall be responsible for the payment of any taxes which are based upon income, net proceeds, production or revenues from the Property assessed solely to the other party.

 

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10.2 Personal Property Taxes. Each party shall promptly when due pay all taxes assessed against such party’s personal property, improvements or structures placed or used on the Property.

 

10.3 Income Taxes. No party shall be liable for any taxes levied on or measured by the other party’s income, net proceeds or payments under this Agreement or received from the production of minerals from the Property.

 

10.4 Delivery of Tax Notices. If Owner receives tax bills or claims which are NCG’s responsibility, Owner shall promptly forward them to NCG for payment.

 

11. Indemnity. Owner shall not be liable to NCG and NCG waives all claims against Owner for injury to or death of any person or damage to or destruction of any personal property or equipment or theft of property occurring on or about the Property or arising from or relating to NCG’s business conducted on the Property. NCG shall defend, indemnify and hold harmless Owner and its members, officers, directors, agents and employees from and against any and all claims, judgments, damage, demands, losses, expenses, costs or liability arising in connection with injury to person or property from any activity, work, or things done, permitted or suffered by NCG or NCG’s agents, partners, servants, employees, invitees or contractors on or about the Property, or from any breach or default by NCG in the performance of any obligation on the part of NCG to be performed under the terms of this Agreement, excluding, however, the negligence of Owner.

 

12. Property Maintenance.

 

12.1 Federal Mining Claim Maintenance Fees. If under Governmental Regulations, federal annual mining claim maintenance fees are required to be paid for the unpatented mining claims which constitute all or part of the Property, beginning with the annual assessment work period of September 1, 2020, to September 1, 2021, NCG shall pay the federal annual mining claim maintenance fees no later than one (1) months before the applicable statutory and regulatory deadline, and shall execute and record or file, as applicable, proof of payment of the federal annual mining claim maintenance fees and of Owner’s intention to hold the unpatented mining claims which constitute the Property. If NCG elects to terminate this Agreement more than two (2) months before the deadline for payment of the federal annual mining claim maintenance fees for the following annual assessment year, NCG shall have no obligation to pay the federal annual mining claim maintenance fees for the Property for the following assessment year. If NCG does not terminate this Agreement more than two (2) months before the deadline for payment of the federal annual mining claim maintenance fees for the following annual assessment year, NCG shall pay the annual maintenance fees for the Property for the following assessment year.

 

13. Amendment of Mining Laws. The parties acknowledge that legislation for the amendment or repeal of the mining laws of the United States applicable to the Property has been, and in the future may be, considered by the United States Congress. The parties desire to ensure that any and all interests of the parties in the lands subject to the unpatented mining claims which comprise all or part of the Property, including any rights or interests acquired in such lands under the mining laws as amended, repealed or superseded, shall be part of the Property and shall be subject to this Agreement. If the mining laws applicable to the unpatented mining claims subject to this Agreement are amended, repealed or superseded, the conversion or termination of Owner’s interest in the Property pursuant to such amendment, repeal or supersession of the mining laws shall not be considered a deficiency or defect in Owner’s title in the Property, and NCG shall have no right or claim against Owner resulting from the conversion, diminution, or loss of Owner’s interest in and to the Property, except as expressly provided in this Agreement. If pursuant to any amendment or supersession of the mining laws Owner is granted the right to convert its interest in the unpatented mining claims comprising the Property to a permit, license, lease, or other right or interest, all converted interests or rights shall be deemed to be part of the Property subject to this Agreement. Upon the grant or issuance of such converted interests or rights, the parties shall execute and deliver an addendum to this Agreement, in recordable form, by which such converted interests or rights are made subject to this Agreement.

 

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14. Relationship of the Parties.

 

14.1 No Partnership. This Agreement shall not be deemed to constitute any party, in its capacity as such, the partner, agent or legal representative of any other party, or to create any joint venture, partnership, mining partnership or other partnership relationship between the parties.

 

14.2 Competition. Except as expressly provided in this Agreement, each party shall have the free and unrestricted right independently to engage in and receive the full benefits of any and all business endeavors of any sort outside the Property or outside the scope of this Agreement, whether or not competitive with the endeavors contemplated under this Agreement, without consultation with or participation of the other party. In particular, without limiting the foregoing, neither party to this Agreement shall have any obligation to the other as to any opportunity to acquire any interest, property or right offered to it outside the scope of this Agreement.

 

14.3 Limitation. NCG’s performance of its duties and obligations under this Agreement shall not obligate NCG to perform any additional services to Owner, nor, except as expressly provided in this Agreement, to conduct or to invest any funds of any nature whatsoever in the exploration of, development or production of minerals on or under the Property. NCG may explore, conduct geological, geochemical and geophysical investigations, drill, sample or otherwise explore for or develop Minerals in the manner and to the extent that NCG, in its sole discretion, deems advisable. Only the express duties and obligations described in this Agreement are binding on NCG and NCG shall have no duties or obligations, implied or otherwise, to explore for, develop or mine minerals. Owner acknowledges that NCG’s express undertakings under this Agreement and Purchase Price are in lieu of any implied duties or obligations.

 

15. Inspection. During the term of the Option, the Owner or Owner’s duly authorized representatives shall be permitted to enter on the Property and NCG’s workings at reasonable times and on five (5) days’ advance notice to NCG for the purpose of inspection, but they shall enter on the Property at their own risk and in such a manner which does not unreasonably hinder, delay or interfere with NCG’s operations. If NCG is conducting exploration, development or mining during Owner’s inspection, Owner agrees that Owner will comply with all of NCG’s safety rules and regulations, including the requirement that Owner and Owner’s representatives be accompanied by NCG’s representatives during the inspection.

 

16. Representations.

 

16.1 Title. Except as expressly provided in this Agreement, Owner represents to Owner’s knowledge and belief as follows: (a) the unpatented mining claims which are part of the Property were properly located in accordance with applicable federal and state laws and regulations; (b) the unpatented mining claims which are part of the Property are in good standing; and (c) subject to the paramount title of the United States, the unpatented mining claims are free and clear of adverse claims, liens, encumbrances, or royalties.

 

16.2 Escrow for Disputes. If at any time a third party asserts a claim of ownership in the Property or the Minerals which is adverse to the interest of Owner or NCG, or if NCG is advised by legal counsel for NCG that it appears that a third party may have such a claim, NCG may deposit any payments which would otherwise be due to Owner into escrow and give notice of such deposit to Owner. In the event of a dispute as to ownership of the Property, the Minerals, the surface of the Property, the minimum payments may be deferred until twenty (20) days after NCG is furnished satisfactory evidence that such dispute has been finally settled and all provisions as to keeping this Agreement in force shall relate to such extended time for payment.

 

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17. Covenants, Warranties and Representations. Each of the Parties covenants, warrants and represents for itself as follows:

 

17.1 Compliance with Laws. That it has complied with all applicable laws and regulations of any governmental body, federal, state or local, regarding the terms of and performance of its obligations under this Agreement. Each party shall maintain its standing as a business entity in accordance with the laws of the jurisdiction of its organization.

 

17.2 No Pending Proceedings. That there are no lawsuits or proceedings pending or threatened which affect its ability to perform the terms of this Agreement.

 

17.3 Costs. That it shall pay all costs and expenses incurred or to be incurred by it in negotiating and preparing this Agreement and in closing and carrying out the transactions contemplated by this Agreement.

 

17.4 Brokers. That it has had no dealings with any agent, broker or finder in connection with this Agreement, and shall indemnify, defend and hold the other party harmless from and against any claims that may be asserted through such party that any agent’s broker’s or finder’s fee is due in connection with this Agreement.

 

17.5 Patriot Act. That it is not on the Specially Designated National & Blocked Persons List of the Office of Foreign Assets Control of the United States Treasury Department and is not otherwise blocked or banned by any foreign assets office rule or any other law or regulation, including the USA Patriot Act or Executive Order 13224.

 

18. Termination by Owner. Any failure by NCG to perform any of its covenants, liabilities, obligations or responsibilities under this Agreement shall be a default. Owner may give NCG written notice of a default. If a payment default is not remedied within five (5) days after receipt of the notice or any other default is not remedied within thirty (30) days after receipt of the notice, provided the default can reasonably be cured within that time, or, if not, if NCG has not within that time commenced action to cure the same or does not after such commencement diligently prosecute such action to completion, Owner may terminate this Agreement by delivering notice to NCG of Owner’s termination of this Agreement, provided that if NCG contests Owner’s notice of default or Owner’s assertion that NCG has not timely cured or commenced action to cure the alleged default, Owner may not terminate this Agreement unless and until issues of the alleged default and failure to cure the alleged default had been determined by a court of competent jurisdiction. In such case, NCG shall have such time as provided by the decree or order of the court having jurisdiction of the dispute concerning the alleged default or failure to cure the alleged default. On termination of this Agreement based on NCG’s default, within ten (10) days NCG shall execute and deliver to Owner a release and termination of this Agreement in form acceptable for recording.

 

19. Termination and Surrender of Mining Claims by NCG. NCG may at any time terminate this Agreement by giving written notice to Owner. If NCG terminates this Agreement, NCG shall perform all obligations and pay all payments which accrue or become due before the termination date. On NCG’s termination of this Agreement, within ten (10) days NCG shall execute and deliver to Owner a release and termination of this Agreement in form acceptable for recording.

 

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20. Force Majeure. Each party’s obligations under this Agreement shall be suspended during the time and to the extent such party is prevented from compliance, in whole or in part, by war or war conditions (actual or potential), earthquake, fire, flood, strike, labor stoppage, accident, riot, unavoidable casualty, act or restraint, present or future, or any lawful authority, statute, act of God, act of public enemy, inability to obtain or delays in obtaining governmental approvals, consents, licenses or permits (including any of the foregoing relating to the change of the use or points of diversion and use of water resources), labor or transportation, or other delays or cause of the same or other character beyond the reasonable control of such party. If a party invokes force majeure, it shall notify the other party in writing within ten (10) days of the force majeure event and shall diligently attempt to cure, end or remediate the force majeure event. A party claiming force majeure shall notify the other party in writing within ten (10) days of termination of the force majeure event.

 

21. Surrender of Property. On expiration or termination of this Agreement, NCG shall surrender the Property promptly to Owner and at NCG’s sole cost shall remove from the Property all of NCG’s buildings, equipment and structures. NCG shall reclaim the Property in accordance with all applicable Governmental Regulations.

 

22. Data. Promptly following the parties’ execution of this Agreement, Owner shall deliver to NCG copies of all of the technical and title data Owner possesses regarding the Property and the Area of Interest. Within thirty (30) days following termination of this Agreement, NCG shall deliver to Owner copies of the technical data regarding the Property in NCG’s possession at the time of termination which before termination NCG has not furnished to Owner. At Owner’s election, NCG shall deliver to Owner NCG’s core, cuttings, sample splits, and sample pulps from the Property.

 

23. Confidentiality. The data and information, including the terms of this Agreement, coming into the parties’ possession by virtue of this Agreement shall be deemed confidential and shall not be disclosed to outside third parties except as may be required to publicly record or protect title to the Property or to publicly announce and disclose information under Governmental Regulations or under the rules and regulations of any stock exchange on which the stock of a party, or the parent or affiliates of a party, is listed. If a party negotiates for a transfer of all or any portion of such party’s interest in the Property or under this Agreement or negotiates to procure financing or loans relating to the Property, in order to facilitate any such negotiations such party shall have the right to furnish information to third parties, provided that each third party to whom the information is disclosed agrees to maintain its confidentiality in the manner provided in this Section.

 

24. Assignment.

 

24.1 NCG’s Assignment. During the term of this Agreement, NCG shall not assign, convey, encumber, sublease, grant any concession, or license or otherwise transfer to a third party (each a “Transfer”) all or any part of its interest in this Agreement or the Property, without, in each case, Owner’s prior written consent, which shall not be withheld unreasonably. Owner shall have the right to consider the proposed transferee’s financial, legal, operating and technical expertise and history when determining the suitability of the transferee as the lessee under this Agreement. Owner shall respond to NCG’s request for consent within ten (10) days following Owner’s receipt of NCG’s request, and if Owner does not timely inform NCG that Owner does not consent to the proposed Transfer, Owner shall be deemed to have approved the Transfer. Each transferee of any interest in this Agreement shall execute and deliver an instrument by which the transferee agrees to assume and perform the obligations of the assignor under this Agreement.

 

24.2 Owner’s Assignment. Owner shall have the right to assign or otherwise transfer all or any part of its interest in this Agreement or the Property. No change in ownership of Owner’s interest in the Property shall affect NCG’s obligations under this Agreement unless and until Owner delivers and NCG receives copies of the documents which demonstrate the change in ownership of Owner’s interest. Until NCG receives Owner’s notice and the documents required to be delivered under this Section, NCG may continue to make all payments under this Agreement as if the transfer of Owner’s Ownership interest had not occurred. No division of Owner’s ownership as to all or any part of the Property shall enlarge NCG’s obligations or diminish NCG’s rights under this Agreement.

 

25. Memorandum Agreement. The parties shall execute and deliver a memorandum of this Agreement. The execution of the memorandum shall not limit, increase or in any manner affect any of the terms of this Agreement or any rights, interests or obligations of the parties.

 

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26. Notices. Any notices required or authorized to be given by this Agreement shall be in writing and shall be sent either by commercial courier, facsimile, or by certified U.S. mail, postage prepaid and return receipt requested, addressed to the proper party at the address stated below or such address as the party shall have designated to the other parties in accordance with this Section. Such notice shall be effective on the date of receipt by the addressee party, except that any facsimiles received after 5:00 p.m. of the addressee’s local time shall be deemed delivered the next day.

 

If to Owner: MSM Resource, L.L.C.
  Suite 15, Riggins Court,
Reno NV 89502
   
If to NCG: Nevada Canyon Gold Corp.
  Suite 543 316 California Avenue
Reno, NV 89501

 

27. Binding Effect of Obligations. This Agreement shall be binding upon and inure to the benefit of the respective parties and their successors or assigns.

 

28. Entire Agreement. The parties agree that the entire agreement between them is written in this Agreement and in a memorandum of agreement of even date. There are no terms or conditions, express or implied, other than expressly stated in this Agreement. This Agreement may be amended or modified only by a written instrument signed by the parties with the same formality as this Agreement.

 

29. Governing Law and Forum Selection. This Agreement shall be construed and enforced in accordance with the laws of the State of Nevada. The forum for any action regarding the construction or enforcement of this Agreement shall be the Second Judicial District Court, Washoe County, Reno, Nevada.

 

30. Multiple Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which shall constitute the same Agreement.

 

31. Severability. If any part, term or provision of this Agreement is held by a court of competent jurisdiction to be illegal or in conflict with any Governmental Regulations, the validity of the remaining portions or provisions shall not be affected, and the rights and obligations of the parties shall be construed and enforced as if the Agreement did not contain the particular part, term or provision held to be invalid. The parties have executed this Agreement effective as of the Effective Date.

 

SIGNATURE PAGE FOLLOWS

 

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement.

 

Signed, sealed and delivered on this 19 day of May 2021

 

  MSM RESOURCE, L.L.C.  
       
  By /s/ Alan Day    
    Alan Day, Managing Member  

 

  NEVADA CANYON GOLD CORP.  
     
  By /s/ Jeffrey A. Cocks  
    Jeffrey Cocks, Chief Executive Officer & Director  

 

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EXHIBIT A

 

Unpatented Claims Property Description

 

The following twenty (20) unpatented lode mining claims situated in Sections 3-5, T3N, R34E., and
Sections 32 & 33, T4N, R34E, MDM located within Mineral County, Nevada.

 

Count   Claim Name   Location Date   County Document No.   BLM Serial Number (NMC)
1   AP 1   03/07/2020   173197   NMC1204093
2   AP 2   03/07/2020   173198   NMC1204094
3   AP 3   03/19/2006   138784   NMC928718
4   AP 4   03/19/2006   138785   NMC928719
5   AP 5   03/19/2006   138786   NMC928720
6   AP 6   03/19/2006   138787   NMC928721
7   AP 7   03/07/2020   173199   NMC1204095
8   AP 8   03/07/2020   173200   NMC1204096
9   AP 9   03/07/2020   173201   NMC1204097
10   AP 10   03/07/2020   173202   NMC1204098
11   AP 11   03/07/2020   173203   NMC1204099
12   AP 12   03/07/2020   173204   NMC1204100
13   AP 13   03/07/2020   173205   NMC1204101
14   AP 14   03/07/2020   173206   NMC1204102
15   AP 15   03/07/2020   173207   NMC1204103
16   AP 16   03/07/2020   173208   NMC1204104
17   AP 17   03/07/2020   173209   NMC1204105
18   AP 18   03/07/2020   173210   NMC1204106
19   AP 19   03/07/2020   173211   NMC1204107
20   AP 20   03/07/2020   173212   NMC1204108

 

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EX-99.01 4 ex99-01.htm

 

Exhibit 99.01

 

316 California Avenue, Suite 543

Reno, NV

89509

Tel : 888 909-5548

Fax : 888 909-1033

 

Trading Symbol OTCMKTS: NGLD

 

NEWS RELEASE

 

NEVADA CANYON ACQUIRES THE AGAI-PAH PROJECT

 

Reno NV. May 19, 2021 Nevada Canyon Gold Corp. (OTC Markets: NGLD) (The “Company” or “Nevada Canyon”) is pleased to announce it has entered into an Exploration Lease with Option to Purchase Agreement (“the Agreement”) on the Agai-Pah Property, located in Mineral County, Nevada, within the Walker Lane shear zone.

 

The Agai-Pah Property consists of 20 unpatented mining claims with a combined area of 162 hectares (400 acres). The Property is located in the northwestern portion of the Gillis Range, within the Buckley Mining District, in Mineral County, Nevada, 13 miles north-east of the town of Hawthorne, and 22 miles SW of the Rawhide Mine. The Property is within the Walker Lane shear zone, a 60-mile-wide structural corridor extending in a southeast direction from Reno, Nevada. The project has excellent year-round access and infrastructure within Mineral County, one of the most pro-mining counties in the pro-mining states and highest-grade gold districts of Nevada.

 

The Agai-Pah property contains numerous historical workings consisting of underground workings with multi-level vertical shafts, several adits at different sub-levels, declines and a number of prospects pits that dig along structures. An existing road network provide access to the numerous historical workings. Historical sampling on the project has revealed the presence of silver, copper, gold, lead, zinc, barium and barite. There have been at least two periods of mining on the property, with the first in the early 1900’s, and then later in the late 1980’s. The early 1900’s, work consisted of excavation of at least 15 adits, 5 vertical shafts, declines and numerous prospects pits that dig along structures.

 

The second episode of mining took place in the late 1980s when a small pit was excavated, and ore material was mined and transported approximately 2 miles to the west to a small heap leach. During this time about two kilometers of roads were built, several large trenches were completed, and a number of shallow drill holes (12+) were drilled. All the drill holes noted during this historical work were vertical and most were drilled in the hanging wall of the ore-bearing structures. An extensive sampling program was undertaken in early 1988, evidenced by aluminum sample tags widely spaced in the areas of alteration. No historical data has been found from any of this historical exploration work.

 

The term of the Agreement continues for ten (10) years, subject to the right to extend the Agreement for two (2) additional terms of ten (10) years each, and subject to an option to purchase 100% of the Property. Full consideration of the Agreement consists of the following: (i) an initial cash payment of $20,000.00 USD within 90 days upon execution of the agreement. (ii) $20,000.00 on the first anniversary of the effective date and any succeeding anniversary of the effective date.

 

Nevada Canyon has the exclusive purchase option and right to acquire 100% ownership of the Property (the “Option”). The purchase price of the Property shall be USD $750,000.00 (the “Purchase Price”). The Purchase Price can be paid in either cash and/or equity of Nevada Canyon, or a combination thereof, at the election of the Vendor.

 

 
 

 

The Agai-Pah property contains numerous historical workings both underground and on surface. The Property is in close Proximity to several past producing mines including the Bodie, Aurora, Borealis, Pamlico, Evening Star, Mabel, Mindoro and Camp Douglas Mines. Held by private interests for most of its history, the Agai-Pah Property remains very underexplored with minimal modern-day exploration. These factors clearly demonstrate the exceptional potential of this relatively unexplored project for new discoveries of significant mineralization on several exploration targets in multiple zones.

 

ON BEHALF OF THE BOARD

 

Jeffrey A. Cocks

 

Jeffrey A. Cocks

President & CEO

 

FOR FURTHER INFORMATION PLEASE CONTACT: Nevada Canyon Gold Corp.

(TEL)- (888) 909-5548, (FAX)-(888) 909-1033

Email: info@nevadacanyongold.com

Website: www. nevadacanyongold.com

 

Forward-Looking Statements

 

The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may,” “will,” “should,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of exploration, delays in completing various engineering and exploration programs, Specifically, forward-looking statements in this news release include statements with respect to the potential mineralization and geological merits of the Company properties and various other factors beyond the Nevada Canyon Gold Corp.’s control. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events except as required by applicable securities legislation. Nevada Canyon Gold Corp. is neither an underwriter as the term is defined in Section 2(a)(11) of the Securities Act of 1933, nor an investment company pursuant to the Investment Company Act of 1940. Nevada Canyon Gold Corp. is not an investment adviser pursuant to the Investment Advisers Act of 1940. Nevada Canyon Gold Corp. is not registered with FINRA or SIPC. Investors are advised to carefully review the reports and documents that Nevada Canyon Gold Corp. files from time to time with the SEC, including its Annual Form 10K for the fiscal year ended December 31, 2020, Quarterly and Current Reports.