Delta Resources Receives Final Tranche Payment of $400,000 from Yorkton Ventures
Montreal, Quebec--(Newsfile Corp. - April 4, 2022) - Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) ("Delta" or "The Company") is pleased to announce that it has received a final tranche cash payment of $400,000 from Yorkton Ventures (TSXV: YVI) for the sale of its Bellechasse-Timmins Gold Deposit ('the Property") in southeastern Quebec, Canada. This concludes the sale of the property to Yorkton Ventures.
"We are very please with having concluded this transaction with Yorkton Ventures. Throughout this process, Yorkton has been transparent and in constant communication allowing for an efficient process to unfold despite some unavoidable delays. We wish Yorkton well in developing the property in the very amenable mining jurisdiction of Quebec," stated Andre Tessier, President of Delta Resources Limited.
Andrew Lee Smith, Yorkton's CEO said, "Yorkton's Board and management are pleased to have concluded this transaction with Delta. The Company is looking forward to actively engaging the Bellechasse-Timmins Gold Project and the opportunity it represents to enhance shareholder value. The transaction proved to be a challenging process during the time of the pandemic, and on behalf of the Board I would like to thank Delta for their patience and support while completing the transaction."
Delta retains a 1% Net Smelter Return (NSR) royalty on any and all commercial production derived from the Bellechasse-Timmins property. Yorkton may re-purchase 0.5% of the NSR for $1 Million at any time.
About Delta Resources Limited
Delta Resources Limited is a Canadian mineral exploration company focused on growing shareholder value through the exploration of two very high-potential gold and base-metal projects in Canada.
- DELTA-1, 45 km2 located 50km west of Thunder Bay, Ontario where an extremely high gold-in-till anomaly and kilometre-scale gold-bearing alteration halo point to a never-tested regional structure.
- DELTA-2 GOLD and DELTA-2 VMS, 200 km2 in the prolific Chibougamau District of Quebec, with a potential for hydrothermal-gold and gold-rich VMS deposits.
Delta has 49M shares outstanding and is fully funded for its 2022 exploration.
ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.
We seek safe harbor. Neither 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 accuracy of this release. The TSX Venture Exchange has not approved nor disapproved of the information contained herein.
For Further Information:
Delta Resources Limited
Andre C. Tessier, CEO and President
Frank Candido, Chairman
Tel : 514-969-5530
Cautionary Note Regarding Forward Looking Information
Some statements contained in this news release are "forward looking information" within the meaning of Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual facts to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event.
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