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Abitibi to buy 15% net profit interest on claims near Canadian Malartic mine

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Abitibi to buy 15% net profit interest on claims near Canadian Malartic mine

Abitibi Royalties Inc. agreed with a group of arm's length, third-party sellers, to acquire a 15% carried net profit interest on the mineral claims located west of the Canadian Malartic gold mine in Quebec for C$400,000.

The claims contain the historic Radium zone and the western portion of the CM West near pit target.

Canadian Malartic Corp., a partnership between Agnico Eagle Mines Ltd. and Yamana Gold Inc., owns and operates the claims.

The transaction is expected to close by the end of the third quarter, the company said July 5.

Abitibi Royalties already holds a 2% NSR on the Charlie zone and the eastern portions of the Gouldie zone, as well as a 3% NSR on portions of the Odyssey project, East Malartic, Jeffrey zone, and eastern portions of the Barnat Extension, all at the Canadian Malartic mine.