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VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 9, 2017) - West Kirkland Mining Inc. (TSX VENTURE:WKM)(OTCQB:WKLDF) ("West Kirkland" or the "Company") announces the execution of an exchange agreement (the "EA") with Newmont Mining Corporation ("Newmont") whereby the Company has exchanged all of its rights, title and interests in, and its obligations associated with the TUG Property, located within the Long Canyon Trend of northern Nevada/Utah, for an approximate 1.1% net smelter returns ("NSR") royalty forming part of Newmont's 2.4% NSR royalty on the Hasbrouck Gold Project, located near Tonopah, Nevada, plus the right to US$1.194 million in payments due upon commercial production at Hasbrouck or Three Hills and extinguishment of land fees. The Hasbrouck Gold Project is held by a dedicated limited liability corporation ("LLC") of which the Company holds a 75% interest and of which Clover Nevada LLC, a Nevada LLC wholly-owned by Waterton Precious Metals Fund II Cayman, L.P., holds a 25% interest. |
