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Affinity Metals to acquire Regal polymetallic project

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Affinity Metals to acquire Regal polymetallic project

Affinity Metals Corp., previously Acme Resources Inc., entered into a four-year option agreement to acquire the Regal polymetallic project in British Columbia from an arm's length third party.

The company is required to pay C$105,000 cash, issue 600,000 shares and grant a 3% net smelter return royalty, which can be bought back for C$1.5 million cash and 300,000 shares in total.

The 5,891-hectare property hosts three past-producing mines, according to the Nov. 21 release.