June 4, 2019
Edmonton, AB-June 3, 2019-Jaeger Resources Corp. (“Jaeger”) (TSXV:JAEG) is pleased to announce that, subject to the approval of the TSX Venture Exchange, Stratabound Minerals Corp. (“Stratabound”) (TSXV:SB) has accepted an agreement amendment from Jaeger regarding their Option Agreement (the “Agreement”) with Stratabound to acquire an 80% interest in the Taylor Brook Property (see press release dated February 22, 2017).
Terms of the amendment extend the Agreement to February 22, 2023 and for Jaeger to make $500,000 (the original exploration commitment) in cumulative Exploration Expenditures on the Property and maintain the Property in good standing. This includes $125,000 in cumulative Exploration Expenditures by February 22, 2020; $200,000 by February 22, 2021; and $300,000 by February 22, 2022.
A new section was added to the Agreement. This section requires (i) any grants received by Stratabound under the New Brunswick Junior Mining Assistance Program (“NG Grants”), whereby initial grant deposits or the grant balance will be transferred to Jaeger within 10 days of Jaeger providing invoices totaling the matching amount of the grant deposit or grant balance.
In exchange for Stratabound’s acceptance of the above modifications to the work commitment requirements, Jaeger agrees to issue to Stratabound an additional 1,600,000 common shares as of the latter of the effective date of this agreement amendment, and the receipt by Jaeger of the 2018 $12,000 New Brunswick Grant owed to Jaeger by Stratabound. The share issuance is subject to a four-month hold period.
This agreement amendment will allow Jaeger additional time to explore and evaluate the Taylor Brook Property.
About Jaeger Resources Corp.
Jaeger Resources Corp. is a Junior Canadian Exploration Company focused on evaluating high potential, undervalued mineral properties for acquisition, which can be developed to give investors a fair return on investment. Jaeger has entered into an agreement with Stratabound Minerals Corp. (see press release of February 22, 2017) to explore and develop the Taylor Brook zinc – lead – silver deposit in the Bathurst Mining Camp, New Brunswick, Canada. In addition to the Taylor Brook property, other properties of merit have been submitted to Jaeger which need to be evaluated more thoroughly.
For further company and technical information, please visit the Company’s website at www.jaegerresources.com.
The technical content of this press release has been reviewed and approved by the Company’s CEO, Bruce W. Downing, as the Qualified Person.
On Behalf of the Board,
“Bruce W. Downing”
Bruce W. Downing, M.Sc., P.Geo, FGC, FEC(hon)
CEO Email: email@example.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or the accuracy of this press release. We seek Safe Harbor.
Not for release in the United States.
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements”. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the Taylor Brook Property.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.