VANCOUVER, BC / ACCESSWIRE / May 13, 2024 / Green Bridge Metals Corporation (CNSX:GRBM)(OTCQB:GBMCF)(FWB:J48)(WKN:A3EW4S) ("Green Bridge" or the "Company") is pleased to announce, further to its news release dated February 6, 2024, that it has entered into a definitive agreement with Encampment Minerals Inc. (the "Definitive Agreement") with respect to an option (the "Option") to earn an 80% interest in the 8,460-hectare (84.6 square kilometre (km)) South Contact Zone Project, targeting copper (Cu), nickel (Ni)-platinum group element (PGE) mineralization.
The material terms of the Option, as well as a description of the South Contact Zone Project, are contained in the Company's news release dated February 6, 2024.
Pursuant to the Definitive Agreement, the Company will acquire the Option upon completion of several conditions, including the satisfactory completion of due diligence, receipt of any regulatory approvals, and the completion of a minimum $3 million in financing. It is anticipated that the forgoing conditions will be met and the Company will acquire the Option on or prior to May 30, 2024.
About Green Bridge Metals
Green Bridge Metals Corporation (formerly Mich Resources Ltd.) is a Canadian based exploration company focused on acquiring ‘battery metal' rich mineral assets and the development of the South Contact Zone (the "Property") along the basal contact of the Duluth Intrusion, north of Duluth, Minnesota. The South Contact Zone contains bulk-tonnage copper-nickel and titanium-vanadium in ilmenite hosted in ultramafic to oxide ultramafic intrusions. The Property has exploration targets for bulk-tonnage Ni mineralization, high grade Ni-Cu-PGE magmatic sulfide mineralization and titanium.
ON BEHALF OF GREEN BRIDGE METALS,
"David Suda"
President and Chief Executive Officer
For more information, please contact:
David Suda
President and Chief Executive Officer
Tel: 604.928-3101
investors@greenbridgemetals.com
Forward Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: the exploration and development of the South Contact Zone Properties and the completion of the conditions to acquire the Option.
Although management of the Company believe that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These risk factors include, but are not limited to: the exploration and development of the South Contact Zone Properties may not result in any commercially successful outcome for the Company; the conditions to acquire the Option may not be met as currently contemplated, or at all; risks associated with the business of the Company; business and economic conditions in the mining industry generally; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting mining concessions); and other risk factors as detailed from time to time.
The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE: Green Bridge Metals Corporation
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