Vancouver, British Columbia, April 3, 2023 – Pacific Imperial Mines Inc. (TSX.V: PPM) (“Pacific Imperial” or the “Company”) announces that, subject to the approval of the TSX Venture Exchange, it intends to extend the expiration date by two (2) years on a total of 3,800,000 warrants (the “Warrants”) originally issued by the Company on April 23, 2021 pursuant to a non-brokered private placement.
Pacific Imperial Mines Signs Option Agreement With Eagle Plains Resources to Acquire 60% of Brownell Lake Property in Saskatchewan
Vancouver, British Columbia – March 27, 2023 – Pacific Imperial Mines Inc. (TSX.V: PPM) (“Pacific Imperial” or the “Company”) is pleased to announce that has entered into an option agreement dated March 23, 2023 (“Option Agreement”) with Eagle Plains Resources Ltd. (TSX.V: EPL) (“Eagle Plains”) pursuant to which Eagle Plains granted the Company the option to acquire a 60% interest in the Brownell Lake property (the “Property”) consisting of three mineral dispositions covering 1,863.3 hectares located approximately 17 km northwest of Deschambault Lake, Saskatchewan. The Company may exercise the option by paying aggregate cash consideration of $500,000, issuing 1,000,000 common shares of the Company (the “Common Shares”) to Eagle Plains and incurring exploration expenditures on the Property of $5,000,000 all in staged amounts by December 31, 2027. Upon the exercise of the option, the Company will own a 60% interest and Eagle Plains will own a 40% interest in the Property, and the parties will enter into a joint venture agreement to further explore and develop the Property to bring it into commercial production. The Property is subject to a 2% net smelter returns royalty owing to Eagle Royalties Ltd.