Axcap Acquires Newton Gold Project in British Columbia

Axcap Ventures Inc. has signed a definitive agreement to acquire Carlyle Commodities Corp's Newton Gold Project in British Columbia. The project holds inferred mineral resources of 842,900 ounces of gold and 4,506,100 ounces of silver, with an average grade of 0.64 g/t Au. The deal involves cash payments, shares, and milestone-based contingent payments. The project spans 23,003 hectares with 62 claims, and Carlyle holds the mineral interest, subject to royalties from AMARC Resources Ltd.

The agreement details include cash payments totaling $500,000, 3,750,000 common shares, and 500,000 share warrants of Axcap. Additional shares and payments are tied to future resource definitions and feasibility studies. The transaction requires customary closing conditions, including regulatory approvals.

Executives from both firms express optimism about the project’s potential, emphasizing the opportunity for significant growth and value creation. A rigorous QA/QC program has been employed, ensuring high levels of data accuracy and reliability, supporting the project's future development.