Universal Copper Ltd. (TSXV:UNV) entered into a non-binding agreement to acquire StarGold Property from UrbanGold Minerals Inc. (TSXV:UGM) for CAD 0.17 million on October 13, 2020. Universal Copper intends to enter into a Property Acquisition Agreement which will require UNV to issue 1.0 million common shares of UNV to UrbanGold and make a cash payment of CAD 0.02 million in cash within 5 days of TSX Venture Exchange approval. The Agreement will require a second payment of CAD 0.07 million in cash or issue the equivalent value of Shares based on 20-day VWAP of the common shares of UNV to UrbanGold within twelve months of the date of signing the Agreement. UNV will assume the 1% NSR underlying royalty and grant an additional 1% NSR royalty to UrbanGold with the ability to buy back 50% of the NSR royalty from UrbanGold for the sum of five hundred thousand dollars. Universal Copper will immediately commence due diligence pursuant to the LOI. The Agreement will be subject to TSX Venture Exchange approval.

Universal Copper Ltd. (TSXV:UNV) canceled the acquisition of StarGold Property from UrbanGold Minerals Inc. (TSXV:UGM) on December 2, 2020.