Definitive Agreement Signed with Delrey Metals Corp on the Four Corners Project
Triple Nine Resources Ltd., a Newfoundland and Labrador based private resource company, 100% owners of the Four Corners Vanadium – Titanium – Iron ore (V-Ti-Fe) Project in western Newfoundland is pleased to announce the signing of a Definitive Agreement with Vancouver based Delrey Metals Corp “Delrey” (CSE:DLRY, OTC:DLRYF). The agreement with Delrey provides them with the option over a 4 year period to acquire up to an 80% interest in the project subject to commercial terms, which include cash payments, share issuances and exploration expenditures by Delrey. The details of the agreement released by Delrey on May 21, 2019 can be viewed on their website at www.delreymetals.com.
Triple Nine’s President and Chief Operating Officer Vic French states “the company is very pleased to enter into this strategic partner-ship with Delrey who are committed to rapidly advancing and developing the large V-Ti-Fe deposits on the Four Corners Project”.
This is an important step forward for us in developing the strategic energy metals on the Four Corners Project. Delrey states “we now have a plan in place to move quickly on unlocking the value (at Four Corners) while taking advantage of the excitement and increased interest within the vanadium and iron ore sectors.
Following the announcement of the agreement and the strategic partnership, Delrey Metals President & CEO Morgan Good was interviewed on Bloomberg BNN (https://youtu.be/am9JMUIOqN0) and Capital Ideas TV (https://youtu.be/jzkq-lReQdU). For detailed highlights of these presentations please visit these links.
On behalf of Triple Nine Mr. French wishes to express his appreciation for the loyal support received from our world-wide shareholder base, which has allowed the project to grow and become an attractive, advanced stage mineral resource property. He also acknowledges the contributions by the management and technical teams, which have advanced the project to the point where we can engage in this opportunity with Delrey Metals to add value to an already highly regarded world class project.
The company is also pleased to announce that the Amalgamation of Four Corners Mining Corporation with Triple Nine Resources Ltd. is now complete. This amalgamation streamlines the operations and administration of the company and its core asset the Four Corners Project.
This news release was compiled by Vic French, P. Geo., President & COO, who is a qualified person as defined by National Instrument 43-101.