By the end of the five-year period, Eldorado can exercise the option to acquire 100% ownership of the Atlin Goldfields project by making a cash payment of C$7 million. Brixton may choose to receive 50% of the payment in the form of Eldorado common shares.
Upon exercise of the option, Brixton will be granted a 1.0% net smelter return royalty, with Eldorado retaining an option to purchase half (0.5%) of the NSR for C$2 million prior to the commencement of commercial production at the project.
During the option period, Brixton will serve as the project operator, with Eldorado approving all work programs and budgets relating to the project. The latter will also support Brixton with ongoing environmental monitoring and community engagement efforts at Atlin Goldfields.
Located 9 km east of the town of Atlin, BC, the property comprises a 579-square-kilometre claim group that Brixton has consolidated over a three-year period since 2016,…
