A newly extended agreement with
X-Cal will pay 500,000 shares to Kinross as consideration for the extended option, which expires at year-end. Once the transaction is completed, Kinross will hold 9.5 million shares of X-Cal, while X-Cal will double its interest in the past-producing Sleeper project.
X-Cal has received expressions of interest from companies wanting to option the Sleeper project but says none met its threshold requirements. The property covers a high-grade gold system that hosted the mined-out resource, and which is considered prospective for new discoveries.
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