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TERMINATION OF OPTION ON REVEL RIDGE PROJECT

CNW Group
·1-min read

VANCOUVER, BC, April 9, 2024 /CNW/ - Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or the "Company") announces that further to its news release dated March 8, 2024, the Company has not made the option payment in the amount of C$19,400,000 (the "Current Option Payment") by the deadline of 4:30 pm (Vancouver time) on April 8, 2024 stated in a notice of default (the "Notice of Default") received by the Company from Huakan International Mining Inc. ("Huakan").

Rokmaster Resources Corp. logo (CNW Group/Rokmaster Resources Corp.)
Rokmaster Resources Corp. logo (CNW Group/Rokmaster Resources Corp.)

The Notice of Default was issued by Huakan with respect to the Company not making the Current Option Payment due on February 25, 2024 pursuant to the terms of an option agreement dated December 23, 2019 between the Company, Huakan and Huakan's shareholders, as amended on January 30, 2023 (the "Option Agreement"), granting to the Company an option to acquire a 100% interest in the Revel Ridge Project located approximately 45 km from Revelstoke, British Columbia.

The Company has terminated the Option Agreement, effective immediately. As such, the Company is evaluating its prospects and details regarding those plans will be released shortly.

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On Behalf of the Board of Directors of

Rokmaster Resources Corp.

John Mirko
President & Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE Rokmaster Resources Corp.

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2024/09/c9153.html