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Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) announces that it has filed on SEDAR the NI 43-101 technical report of the Preliminary Economic Assessment (“PEA”) titled “NI 43-101 Technical Report and Preliminary Economic Assessment for the Chimo Mine and West Nordeau Gold Deposits, Chimo Mine and East Cadillac Properties, Quebec, Canada”, prepared in accordance with National Instrument 43-101 – Standard of Disclosure for Mineral Projects (“NI 43-101”).
Cartier Resources Inc. (TSX-V: ECR) (“Cartier” or the “Company”) announces that it has closed its previously announced private placement (the “Private Placement”) for aggregate gross proceeds of $204,000. 1,457,143 common shares of Cartier (each, a “Common Share”) were issued at a price of $0.14 per Common share. Agnico Eagle now owns approximately 15.55% of the issued and outstanding Common Shares on a non-diluted basis and 17.33% of the issued and outstanding Common Shares on a partially-diluted basis.
Cartier Resources Inc. (TSX.V: ECR) (“Cartier” or the “Corporation”) announces that it has filed an early warning report in respect of its holdings in Earthwise Minerals Corp. (“Earthwise”). The requirement to file this report was triggered by the receipt, on May 4, 2023, of 1,600,000 common shares of Earthwise (the “Consideration Shares”) issued to Cartier under the terms of an option agreement dated April 22, 2021, as amended, between Earthwise and Cartier (the “Option Agreement”). The Consideration Shares were issued at a deemed price of $0.08 per share in satisfaction of the scheduled share issuance required to be made by Earthwise under the terms of the Option Agreement (the “Share Issuance Payment”) and will be subject to a contractual release period, as follows: (a) July 22, 2023: 25%; (b) October 22, 2023: 25%; (c) January 22, 2024: 25%; and (d) April 22, 2024: 25%.
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Chimo Mine project: 25,000 meter drill program. Resource Estimate for Chimo Mine and West Nordeau deposit. PEA in progress for project.
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Founded in 2006, Cartier Resources Inc. is an exploration company focused on the Abitibi gold belt in Quebec, one of the best mining territories in the world.
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