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Razore Rock Announces Extension of Expenditure Obligations on Its True Blue Property

·1 min read
Razore Rock Resources Inc.

TORONTO, ON / ACCESSWIRE / August 26, 2022 / Razore Rock Resources Inc. ("Razore Rock" or the "Company") (CSE:RZR) wishes to announce that, further to its press release of October 9, 2019, it has signed an Amendment Agreement with True North Gems Inc. to extend the expenditure obligations pursuant to the Option Agreement dated October 8, 2019. The Company had the option to earn a 70% working interest in the True Blue Property by issuing 600,000 shares (which have been issued) and expending an aggregate of $300,000 on the Property by November 30, 2022. The Company made the initial $50,000 expenditure on the Property. In consideration for the issuance of 50,000 common shares, the terms of the Option Agreement have been amended to extend the expenditure of the remaining $250,000 to $100,000 on or before November 30, 2023 and a further $150,000 on or before November 30, 2024. All other terms of the Option Agreement remain unchanged. The Amendment Agreement is subject to regulatory approval.

For further information, please contact:

Bill Johnstone, Corporate Secretary
Telephone: (416) 865-6605

About Razore Rock Resources Inc.

Razore Rock Resources Inc. is a mineral exploration company focused on the acquisition, exploration and development of mineral resources.

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this Press Release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. The reader is cautioned not to put undue reliance on such forward-looking statements.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Razore Rock Resources Inc.



View source version on accesswire.com:
https://www.accesswire.com/713706/Razore-Rock-Announces-Extension-of-Expenditure-Obligations-on-Its-True-Blue-Property