Vancouver, British Columbia, Canada, April 7, 2022 – TROUBADOUR RESOURCES INC. (the “Company") (TSX VENTURE: TR) (OTC PINK: TROUF) is pleased to announce that it has staked additional ground at its Texas gold and silver project, located in the historic Beaverdell Mining Camp in southern B.C., increasing the overall size to 3,215 hectares (ha).
An additional 1,029 ha was acquired by staking, guided by new geological information that was obtained during the Company’s 2021 field work and continued research into the history of the surrounding area. Of note, 2021 field work showed that the high-grade polymetallic mineral occurrences on the Property are the product of a larger-scale hydrothermal alteration and mineralizing event, which will be the focus of upcoming exploration activities.
Option Agreement Extension
The Company has reached an agreement with the Vendor of the core claims of the Texas Gold project to further extend the payments due on the Year 1 anniversary of the agreement by six months for consideration of $5,000. All other terms of the option remain the same.
Repriced Incentive Stock Options
The directors have approved the re-pricing of 740,000 outstanding stock options from exercise prices between $0.375 to $0.45 per share to $0.16 per share. Of the outstanding stock options, 340,000 are currently held by insiders and their affiliates. The repricing of the stock options to insiders is subject to disinterested shareholder approval at the Company’s annual general meeting on April 28, 2022 and the approval of the TSX Venture Exchange.
TROUBADOUR RESOURCES INC. (TSX.V: TR) (OTC PINK: TROUF) is a public Canadian mining exploration company focused on copper and gold in British Columbia, Canada. The Company is managed by an experienced team consisting of youthful and seasoned professionals with proven track records as mine finders. The Texas gold property diversifies the Company’s commodity focus and compliments Troubadour’s Amarillo copper project, located 10 km south of the past-producing Brenda Mine in southern BC and 35 km east of Kodiak Copper’s MPD discovery.
For further information please contact:
Troubadour Resources Inc.
625 Howe Street, Suite 488
Vancouver, BC V6C 2T6
Geoff Schellenberg, President
Office: (604) 681-0221
Forward Looking Information
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.
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