Medicine Springs Project Option For Acquisition Completed

VANCOUVER – Northern Lights Resources Corp. reported that Torex Gold Resources Inc. has exercised its option to acquire interest in the Medicine Springs project located in Nevada. Northern Lights will retain a 1% Net Smelter Return (NSR) royalty on the Project, providing exposure to potential future production with no further capital commitments. The NSR royalty includes a buydown provision, allowing Torex to reduce the royalty to 0.5% upon payment of US$2.5 million to Northern Lights.
The Project has been the subject of extensive historical exploration, including significant drilling by previous operators. This work identified the potential for silver, lead, zinc, copper, and gold mineralization hosted within multiple mineralization styles, including carbonate replacement deposit (CRD), porphyry, and skarn systems.
Luka Capin, Chief Executive Officer, said, “Medicine Springs has come a long way since the Company originally optioned the property in 2017. We are pleased to see Torex advance the project, and we believe the strength of their technical team and proven ability to develop major mining projects positions Medicine Springs for meaningful advancement. Retaining a royalty interest allows Northern Lights shareholders to benefit from the long-term potential of the project while we remain focused on advancing our core assets.”