17 June 2015
Yellowknife, Northwest Territories - TerraX Minerals Inc.
(TSX.V: TXR; OTC Pink: TRXXF; Frankfurt: TX0) has completed the previously announced grant of an option to Osisko Gold Royalties Ltd (formerly Virginia Mines Inc.) (“Osisko”) (TSX: OR) to purchase an additional 1.0% net smelter return royalty (“NSR”) on its wholly-owned Yellowknife City Gold Project (“YCG”) in the Northwest Territories, including a surrounding area of interest. To obtain this option, Osisko has paid TerraX $1 Million in cash. The option entitles Osisko to purchase a 1.0% NSR on production from the properties that comprise the YCG by payment of an additional $2 Million within 3 months following commencement of production. This 1.0% NSR is in addition to Osisko’s existing option to acquire a 2% NSR on YCG, including a surrounding area of interest (subject to underlying royalties to certain property vendors and payment of $2 Million within 3 months following commencement of production from those properties).