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StrikePoint to acquire Sojourn's Willoughby gold project in British Columbia

StrikePoint Gold Inc. signed a letter of intent to acquire the Willoughby gold-silver property in British Columbia from Sojourn Exploration Inc.

The proposed transaction complements the company's Porter silver project and other ground staked in 2018 and provides an opportunity for exploration without significantly expanding established camp infrastructure or other overhead costs, StrikePoint said Jan. 16.

StrikePoint is required to pay C$85,000 and issue 3 million shares as part of the agreement. Sojourn will retain a 1.5% net smelter return royalty on the project, which can be reduced to 0.5% for an additional C$1 million payment.