Mont Royal Resources Enters Option To JV Agreement Wapatik Project Canada

Jane Morgan Management
Mont Royal Resources Limited (“Mont Royal”, the “Company”) (ASX:MRZ) is
pleased to announce that the Company has entered into a binding JV option
agreement (“Agreement”) with Azimut Exploration Inc. (“Azimut”) (TSXV: AZM),
to earn-in up to 70% of the Wapatik Gold-Copper Project (“Project”), located in
James Bay area, a tier 1 mining jurisdiction of Quebec, Canada.
Highlights
  • Located in world class, mining-friendly jurisdiction of Quebec, Canada.
  • Mont Royal can earn up to 70% of the Wapatik Gold-Copper project.
  • 220 claims totalling 115sq/km in continuous tenure.
  • Underexplored with highly limited modern exploration.
  • Located over the lower Eastmain greenstone belt, part of the Archean
    Superior Province.
  • Geological formation which hosts Azimut’s Elmer project extends east to
    west associated with high magnetic/iron formations.
  • A linear scale fault has been interpreted as striking from Elmer property
    into the Project (west-to-east).
  • Five faults identified on the eastern side of the property.
  • The transaction will enable Mont Royal to deploy its cash position via the
    earn-in partnership arrangement, whilst leveraging off Azimut’s strong
    technical exploration team, to unlock the full potential of the Wapatik
    project.
  • Transaction conditional upon Mont Royal gaining shareholder approval
    at the upcoming annual general meeting.
Mont Royal Executive Director, Peter Ruse,
/Public Release.