29 November 2023
November 28, 2023: VANCOUVER, BRITISH COLUMBIA — Kaizen Discovery Inc. (TSXV: KZD; otherwise "Kaizen" or the "Company"), announces today that the Company has signed a Share Purchase Agreement with Durango Gold Corp. (“Durango Gold”), a private US mineral exploration company, for the sale of the Company’s Coppermine Project located in Nunavut, Canada.
Durango Gold will acquire 100% ownership of Tundra Copper Corp., a wholly owned subsidiary of Kaizen, which holds all mineral claims and prospecting permits related to the Coppermine Project. Upon closing of the transaction, Kaizen will receive US$100,000 in cash, Durango Gold common shares that are equivalent to an aggregate value of US$750,000, and a 3% net smelter returns royalty (“Royalty”). Durango Gold can purchase back up to 1.5% of the 3% Royalty before the publication of a pre-feasibility study, with each 0.5% of the Royalty selling for US$1 million.
The transaction is expected to close by the end of November 2023, subject to customary closing conditions.
Durango Gold is a privately owned junior exploration company focused on uncovering and accelerating new opportunities in large districts, with projects in Mexico, USA and Canada. Durango Gold’s methodology leverages advanced digital analytical techniques, broad mineral systems knowledge, and worldwide experience to rapidly research and derive mineral targets at depth and undercover.
This transaction marks Durango Gold’s third district-scale acquisition, adding to its existing portfolio, including the Idaho Copper Province in central-east Idaho, USA, and the Claudia Project in central Mexico, as Durango Gold aggressively pursues emerging provinces with significant metal potential.
Kaizen is a Canadian mineral exploration and development company with exploration projects in Peru. More information on Kaizen is available at www.kaizendiscovery.com.