Riley Gold Announces US$2.6M Investment From Osisko Gold Royalties

Provided By Globe Newswire

Last update: Nov 21, 2022

VANCOUVER, British Columbia, Nov. 21, 2022 (GLOBE NEWSWIRE) -- Riley Gold Corp. (TSX.V: RLYG) (OTCQB: RLYGF) (“Riley Gold” or the “Company”) is pleased to announce the completion of a US$2.6 million investment (the “Investment”) from Osisko Gold Royalties Ltd (“Osisko”) (NYSE:OR & TSE:OR) in exchange for royalties on projects held by Riley Gold’s wholly owned Nevada subsidiary, RRC Exploration Inc. (“RRC”) including: a 2.0% net smelter return (“NSR”) royalty on Riley Gold’s Pipeline West/Clipper Gold Project (“PWC”), located in Lander County, Nevada; a 0.5% NSR royalty on its Tokop Gold Project (“Tokop”), located in Esmeralda County, Nevada; and an assignment of certain royalty buy-back rights on PWC, held by RRC. The form of NSR royalty to be granted by RRC to Osisko is dependent on the Company’s land holdings as described in the Transactions Details below.