StraightUp Resources (CSE: ST) (OTCQB: STUPF), a public company engaged in the business of mineral exploration and the acquisition of mineral property assets in North America, has paid a third-option cash payment; the payment was made to Bounty Gold Corporation. According to the announcement, StraightUp Resources is contracted to make cash payments totaling C$150,000 over a four-year period for its flagship properties, which include the RLX North, RLX South and Belanger projects; those projects are all located within the Red Lake Mining District in Ontario. In addition, STUPF is required to issue shares with a value of C$300,000. The announcement also noted that the geological interpretation on the RLX claims has been completed. The report, which includes more than 40 years of exploration expenditures as well as insight and guidance regarding future work and resource analysis on the project, was completed by Orix Geoscience Inc. Data from the report will be made available in the coming weeks after the company reviews the report. The company also announced that Rod Husband has resigned as CEO. “The RLX Gold Project is our flagship property and continues to be the company’s primary focus,” said StraightUp Resources president and director Mark Brezer in the press release. “This new report will be pivotal, illustrating the complexities of a landscape with tremendous potential. The RLX Property neighbours the former Great Bear Resources’ Sobel Project and lies just 20 kilometers north of their tremendous discovery at Dixie.”
To view the full press release, visit https://ibn.fm/FhNX1
About StraightUp Resources Inc.
StraightUp is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic, precious and base metal properties of merit. StraightUp intends to conduct exploration on the RLX North, RLX South, Belanger and Ferdinand Gold properties, all located in the Red Lake Mining Division, as well as the recently acquired Bear Head Gold Project, located within the Meen-Dempster Greenstone Belt of the Uchi Subprovince, approximately 80 kilometers west of the Pickle Lake Gold Camp. The Company’s recently acquired West Cat Mine includes an unpatented mining claim on federal land, located in the historic Beatty Mountin Nevada Mining District/Nye County Nevada about 15 kilometers east of US-95, approximately 20 kilometers from Beatty, Nevada, at the base of the Bare Mountain Range. For further information about the company, visit www.StraightUpResources.com.
NOTE TO INVESTORS: The latest news and updates relating to ST are available in the company’s newsroom at https://ibn.fm/STR
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