Yorkton Signs Service Agreement with GoldSpot Discoveries Corp.
Vancouver, British Columbia – TheNewswire - October 14, 2021 – Yorkton Ventures Inc. (TSXV:YVI) (the "Company") is pleased to announce that it has engaged GoldSpot Discoveries Corp. (TSXV:SPOT, OTCQX:SPOFF) (“GoldSpot”) to utilize its proprietary Artificial Intelligence technology to advance the exploration of Yorkton’s projects in Central Newfoundland. GoldSpot is a leading technology services company leveraging machine learning to transform the mineral discovery process. GoldSpot develops artificial intelligence in mineral exploration to reduce capital risk.
Andrew Lee Smith, Chief Executive Officer of Yorkton, commented: “We are pleased to engage the services of GoldSpot to assist in the exploration of our portfolio of gold exploration properties in Central Newfoundland. GoldSpot’s proven success and proprietary, machine learning exploration techniques will greatly enhance our exploration efforts and further develop our geological model. ”
“We are thrilled to leverage our strong foothold in Newfoundland and add Yorkton to our growing client roster” said GoldSpot Discoveries Executive Chairman and President Denis Laviolette. “Our work so far in the province has yielded incredible success and we are confident that our leading team of geoscientists and data scientists will maximize the chances of discovery at Yorkton’s Newfoundland properties using our proprietary machine learning technology.”
GoldSpot has also been granted an option to acquire a 0.5% NSR on the following licenses in Newfoundland for $2.0 million:
- The Parkview Project (1,850 ha.)
- The Knights-Melange Project (950 ha.)
The payment due on execution of the NSR options granted to GoldSpot will be paid to the original vendors of the properties that have been purchased by Yorkton and subject to the terms of the individual purchase agreements (per Yorkton Press Release, July 14, 2021).
In addition the Company reports that it has granted an aggregate of 1,200,000 stock options to officers, directors and consultants exercisable at $0.35 for two years. Additional information about Yorkton can be viewed at www.sedar.com.
On behalf of Yorkton Ventures Inc.
Andrew Lee Smith
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including but not limited to, the uncertainty of the financing, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals. Readers are cautioned that the assumptions used in preparing such information, although considered reasonable at the time of preparation, may prove imprecise and undue reliance should not be placed on forward-looking statements. Forward-looking statements in this press release are expressly qualified by this cautionary statement.
The forward-looking statements in this press release are made as of the date of this press release, and the Company undertakes no obligations to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities law.