Rockland Resources signs earn-in deal with Evolution Mining for up to 70% of Pipestone Bay gold ground in Red Lake, Ontario

By Public Technologies
  • Rockland signed an arms-length earn-in agreement with Evolution Mining’s Canadian unit to consolidate the Pipestone Bay gold system in Red Lake, Ontario.
  • Deal lifts the project footprint to about 3,471 hectares from 608 hectares, surrounding Rockland’s 100%-owned Cole Gold Mine property.
  • Rockland can earn 51% by issuing 250,000 shares and funding CAD 5 million in exploration over three years.
  • Option to raise its stake to 70% with 250,000 more shares and at least CAD 6.5 million of added exploration spending over 30 months.
  • Evolution can buy back to 70% if an NI 43-101 resource of at least 1.5 million gold-equivalent ounces is declared, paying 150% of costs.


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