MOUNTAIN LAKE MINERALS INC. OPTIONS CALEDONIA BROOK
GOLD PROPERTY, CENTRAL NEWFOUNDLAND
Paradise, NL,November 9, 2017 -New Dawn Resources Inc. (NDRI) is pleased to announce that it has entered into an Option Agreement with Mountain Lake Minerals Inc. on NDRI’s Caledonia Brook Gold Property in Central Newfoundland. The property consists of 53 mineral claims in two licences and lies between claims held by Torq Resources to the north, Antler Gold to the south, and Sokoman Iron to the southwest. All are gold related projects with field work ongoing and Antler Gold is presently conducting a 2500 m diamond drill program further to the southwest near Wilding Lake.
On closing of the grant of the Option (“Closing”), Mountain Lake will issue to New Dawn 50,000common shares of Mountain Lake at a deemed price of $0.10 per share and pay $10,000 to New Dawn.To exercise the Option, Mountain Lake must issue to New Dawn 150,000 common shares at a deemedprice of $0.20 per share on or prior to the first anniversary of the date of Closing and 250,000 commonshares at a deemed price of $0.30 per share on the second anniversary of the date of Closing, make anadditional cash payment to New Dawn of $25,000 on or prior to the third anniversary of the date ofClosing, and incur at least $175,000 in exploration expenditures on the property, of which at least$25,000, $50,000 and $100,000 must be incurred by each of the first, second, and third anniversary datesof the date of Closing, respectively. In addition, if Mountain Lake has received assay results prior to thethird anniversary of the date of Closing showing that at least one rock assay sample from the explorationwork on the property contains one or more ounces of gold per tonne (“Target Results”), then it willissue a further 350,000 common shares to New Dawn at a deemed price of $0.40 per share.All shares to be issued to New Dawn under the option agreement will be subject to a hold period notexceeding four (4) months and one day. New Dawn will retain a 1.5% NSR Royalty (“Royalty”) andMountain Lake will have the unfettered right to buy back 1% of the Royalty for $1,500,000. Both partieshave the preferential right to include as part of the Option additional interests acquired by the otherwithin the two (2) kilometer area of interest surrounding the two (2) licences subject to the Option.
This release has been approved by Peter M. Dimmell, P.Geo, FGC, a director of NDRI, who is a Qualified Person (QP) in NL and ON as defined in National Instrument 43-101.Shareholders and other interested parties can view information on the company and our properties, including pictures, on our website at
Kevin P. Ryan, President/CEO
on behalf of the Board of Directors of New Dawn Resources Inc.
For more information please contact:
Kevin Ryan, President(709) 221-6024 or cell (709)
Norm Mercer, VP Corp. Development(709) 364-7029 or cell (709)
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) or any other regulatory agency, accepts responsibility for
the adequacy or accuracy of this release. The company seeks Safe Harbour.