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Frontline Gold acquires 7 gold properties in Ontario

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Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

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Frontline Gold acquires 7 gold properties in Ontario

said May 6 that itacquired seven gold properties located near ChaliceGold Mines Ltd.'s Camerongold project in Ontario's Rainy River area.

The propertiescomprise individual property groups covered by 21 mining claims.

Under the terms,Frontline must issue 1 million shares and pay the optionor C$108,000, of which aboutC$50,500 is due in the third and fourth years of the agreement.

The propertiesare subject to a net smelter returns royalty of 2% on six claims, and 1% on theremaining 15 claims. The company may buy back half of the 2% royalty for C$1 million,and half of the 1% royalty for C$250,000.

Frontline, meanwhile,noted that it continues to seek additional investors to advance its in Turkey and its explorationprograms for its Red Lake portfolio of properties.