Kingman Minerals (TSX.V: KGS) a Canada-based company engaged in the acquisition, exploration and development of gold and silver properties in North America, recently entered into an option agreement to acquire 100% interest in 52 lode claims covering an area of 1,071.2 acres in Arizona’s Mohave County.
An article discussing the company further reads, “The option agreement, which will be valid for a period of four years, was obtained in exchange for a consideration of $150 thousand in cash, the issuance of 2.5 million new common shares and a commitment by the company to invest at least $1 million in exploration expenditure over the option tenure (http://nnw.fm/ny2Mf). The company has now embarked on the process of preparing a NI43-101 compliant technical report on the newly acquired assets, which will be presented to the TSX Venture Exchange once completed. . . . Kingman Minerals, which specializes in sourcing and developing existing, nongrass roots properties in locations favorable to mining, had previously announced in late 2019 that it had entered into an option agreement to explore and mine 20 lode claims within the Music Mountains in Mohave County, Arizona (http://nnw.fm/c6CJd). The initial agreement, which included the historic 167-hectare Rosebud Mine, coupled with the newly announced option interest will take Kingman’s total exploitable mining assets in the Mohave area to 72 lode claims, spanning an area of nearly 1,500 acres. The agreements have also served to highlight the ongoing popularity of nongreenfield projects, with over 54% of the gold exploration budget from the world’s top-20 gold producers now being devoted towards reactivating existing or abandoned sites with new mining techniques (http://nnw.fm/zOTr3).”
To view the full article, visit http://nnw.fm/D6Gok
About Kingman Minerals Ltd.
Kingman Minerals is currently engaged in the business of precious-metal mineral exploration for the purpose of acquiring and advancing nongrass-roots mineral properties located in mining friendly jurisdictions of North America. The Mohave Project is located in the Music Mountains in Mohave County, Arizona, and is comprised of 20 lode claims that are inclusive of the past-producing Rosebud Mine. High-grade gold and silver veins were discovered in the area in the 1880s and were mined mainly in the late 1920s and 1930s. Underground development on the Rosebud property included a 400-foot shaft and approximately 2,500 feet of drifts, raises and crosscuts. For more information, visit the company’s website at www.KingmanMinerals.com.
NOTE TO INVESTORS: The latest news and updates relating to KGS are available in the company’s newsroom at http://nnw.fm/KGS
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