TRES-OR ANNOUNCES CLOSING OF THE FONTANA OPTION AGREEMENT
Vancouver, B.C. – July 9, 2019 - Tres-Or Resources Ltd. (“Tres-Or” or the “Company”) (TSXV: TRS, OTCPK: TRSFF) announces that, further to its news release of June 11, 2019 (the “June 11 Release”), it has received final acceptance of the TSX Venture Exchange to the closing of its Option Agreement with Kiboko Exploration Inc. (“Kiboko”) over the Company’s Fontana Gold Project located near Amos, Québec, as described in detail in the June 11 Release (the “Option Agreement”). In the first phase of the Option Agreement, Kiboko can earn a 65% interest in the Fontana Gold Project by making cash payments or subscribing for securities of Tres-Or totaling $1,000,000 in the next 4 years and complete an NI 43-101 compliant technical report that establishes a mineral resource estimate of a minimum of 1,000,000 ounces of gold of inferred classification or higher, or incur expenditures of $4,000,000 on the Fontana Gold Project over 4 years, of which the first $250,000 is a firm commitment. The Option Agreement is described in detail in the June 11 Release.
In conjunction with the closing of the Option Agreement, Globex Mining Enterprises Inc. (“Globex”), has agreed to the restructuring of its royalty arrangements with respect to the Fontana Gold Project, as more particularly detailed in the June 11 Release. Globex has also agreed to restructure the payments due to it by Tres-Or such that Tres-Or is to pay $100,000 forthwith and a further $200,000 on or before each of January 1, 2021 and January 1, 2022.
About Tres-Or Resources Ltd.
Tres-Or Resources Ltd. (TSX-V: TRS) is a Canadian resource company focused on exploring for diamond resources in the Témiscamingue region of Québec. The Company also has exposure to certain gold projects in the Abitibi region of Québec that have been optioned to Kiboko Exploration Inc. Additional information related to the Company is available on SEDAR and on the Company’s website (www.tres-or.com).
On behalf of the Board of Directors
“Laura Lee Duffett”
Laura Lee Duffett, P.Geo.
President and CEO
For further information
Laura Lee Duffett, President & CEO: +1 (604) 541-8376 – email@example.com
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