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Constantine completes C$4.5M sale of Ontario claims to Lake Shore Gold

Constantine Metal Resources Ltd. on Jan. 19 said it has completed the sale of its Ontario mineral claims to Tahoe Resources Inc. unit Lake Shore Gold Corp.

As consideration, Constantine received C$4.5 million cash and a 100% interest in the Munro claim that is contiguous to its Munro-Croesus gold claims.

The claims sold to Lake Shore include Horseshoe, Four Corners and Meunier, totaling 1,326 hectares, adjacent to Tahoe's Fenn-Gib gold project.

The transaction excluded Constantine's past-producing Munro-Croesus and Golden Mile gold property.

Constantine has retained a 1% net smelter return royalty on the Horseshoe claims, as well as the right of first refusal on the NSR associated with the underlying property agreement.

The deal was announced in November 2016.