Avalon Peninsula, Newfoundland, Canada
The Mid-Corner Cobalt Property is located on the Avalon Peninsula on the north side of Chance Cove Brook about 60 kilometres south from St. John’s along Route 10, in the province of Newfoundland and Labrador.
New Point has entered into the option agreement with a private arm’s-length vendor, whereby the company has been granted the exclusive right and option to acquire a 100-per-cent interest in the Mid-Corner Property, subject to an existing 2-per-cent net smelter royalty on the property.
The option agreement provides for the payment of $5,000 to the vendor upon the execution of the option agreement, the issuance of 500,000 shares to the vendor within five business days thereafter and the issuance of a further 500,000 shares on or before the first anniversary of the option agreement.
Technical aspects of this website have been reviewed and approved by Eric Saderholm, PGeo, the designated qualified person (QP) under National Instrument 43-101.