Infield Minerals Acquires Option Interest in the Kings Canyon Gold Property

VANCOUVER, BC / ACCESSWIRE / June 25, 2024 / Infield Minerals Corp. (TSXV:INFD) has finalized the acquisition of 1468289 B.C. Ltd., which holds an option agreement to acquire 100% interest in the Kings Canyon property in Utah, USA. The acquisition was initially announced on May 30, 2024.

The acquisition involves issuing 5,422,896 common shares of Infield to the former security holders of BC Co. These shares are subject to a hold period expiring October 24, 2024. Following the acquisition, BC Co was renamed Kings Canyon Gold Corp.

To earn a 100% interest in the property, Infield must pay Geomark Minerals USA Inc. $1,200,000 over 30 months. Additionally, payments are contingent upon specific milestones being met, such as a $1,000,000 payment upon filing a 43-101 Technical Report and a $2,000,000 payment upon achieving production targets.