Cranbrook - Taiga Gold Corp. ('TGC':CSE) ('Taiga') has received an earn-in notice from partner SSR Mining Inc. (NASDAQ: SSRM) that it has satisfied its commitments and has exercised the second option earn-in for an 80% aggregate interest in the Fisher Project pursuant to the Option Agreement (the 'Agreement').
In accordance with the Agreement, SSR Mining has recently made a cash payment of CDN$3,000,000 to Taiga, completed over CDN$4,000,000 in exploration expenditures, reimbursed CDN$400,000 for initial exploration work and previously made an additional CDN$400,000 in cash payments to Taiga and predecessor Eagle Plains Resources Ltd. (TSX-V:'EPL') ('Eagle Plains') (for total payments to Taiga/Eagle Plains of CDN $3,800,000). A joint venture comprised of SSR Mining (80%) and Taiga (20%) has now been formed (the 'Fisher JV'). Taiga retains a 2.5% net smelter return ('NSR') on the majority of lands that comprise the Fisher Property, with remaining areas of the property subject to certain underlying third-party royalty agreements. Taiga is entitled to receive CDN$100,000 annual advance royalty payment from the Fisher JV.
The 34,000 ha Fisher Property is located within the Trans Hudson Corridor approximately 125km northeast of La Ronge, Saskatchewan and is contiguous to the north, south and east with SSR Mining's Seabee Gold Operation. Since optioning the property in 2016, SSR Mining has completed extensive systematic exploration including prospecting, soil geochemical sampling, detailed geological mapping, geophysical surveys and completed a total of 34,641m (113,622') of drilling in 87 holes for expenditures totalling over CDN$12,000,000.
Listen to a debrief of this news release by Tim Termuende, President and CEO, Taiga Gold Corp.
About Taiga Gold Corp
Taiga Gold Corp was created through a plan of arrangement with Eagle Plains Resources Ltd. and owns 6 projects targeting gold located within the Trans Hudson Corridor in the area near the Seabee Gold Operation, owned and operated by SSR Mining. Taiga's flagship 'Fisher' property is currently being explored by SSR Mining under option from Taiga. Taiga's 100%-owned Leland, Chico and SAM properties are currently under option to partners SKRR Exploration, Aben Resources and DJ1 Capital, respectively. Taiga continues to advance its 100%-owned Orchid and Mari Lake projects.
Taiga's objective is to focus on the exploration and development of its gold projects located adjacent to the Seabee Gold Operation and along the Tabbernor Fault structure in eastern Saskatchewan, a highly prospective mining jurisdiction which was recently recognized by the Fraser Institute as the second-best place in the world in terms of Investment Attractiveness. Throughout the exploration and development process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
Contact:
Mike Labach
Tel: 1 866 (486 8673)
Email: info@taigagold.com
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
EAGLE PLAINS RESOURCES LTD. 
