Make Kitco Your Homepage

Kirkland Lake Gold to invest in Mistango and Orefinders

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Mistango River Resources (CSE: MIS) today announced a strategic partnership with Kirkland Lake Gold wherein Kirkland Lake Gold will acquire a 9.9% interest in the company.

Additionally, Mistango has granted Kirkland Lake Gold the option to acquire up to a 75% interest in its Kirkland West and Omega projects in exchange for spending $60 million on the projects.

In a separate and distinct transaction, KL Gold has also entered into an agreement with Orefinders Resources (ORX: TSXV), whereby Kirkland Lake Gold will be acquiring a 9.9% equity interest in Orefinders. Additionally, KL Gold will have the option to acquire a 75% interest in Orefinders' Knight, McGarry and Mirado projects in return for spending $60 million in exploration.

"Mistango and Orefinders are excited to jointly announce this unique partnership and equity investment with a top-tier operator like KL Gold. We see this as a testament to our assets' quality and our specific focus with the Kirkland Lake district of Ontario. With Kirkland Lake Gold's financial and technical support, we are excited to realize our portfolio's full potential while also seeking new acquisition opportunities," said Stephen Stewart, CEO of Orefinders Resources and Chairman of Mistango.

Mistango is a Canadian-based exploration and development company focused on its Kirkland West and Omega projects in the Kirkland Lake District of Ontario's Abitibi Greenstone Belt.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.