Rhyolite Resources Closes Acquisition of the Suku Passi Project in Suriname – MENAFN.COM

Rhyolite Resources Closes Acquisition of the Suku Passi Project in Suriname – MENAFN.COM

(MENAFN - Newsfile Corp) Rhyolite Resources Closes Acquisition of the Suku Passi Project in Suriname The Vendors received 3, 500, 000 common shares of Rhyolite in consideration for all of the outstanding share capital of ONCorp (the "Transaction"). "We are delighted with the transformational progress made in the last few months, with the closing of two acquisitions in Suriname that will form our flagship portfolio along with our Paxson gold project in Alaska, positive sampling results at the Brothers Project announced in January, as well as the strengthening of our board and management team with key appointments," said Richard Graham, President and Chief Executive Officer of Rhyolite. "We look forward to advancing these strategically-located prospects with the drill bit on a number of defined targets this year." Highlights of the Suku Passi Project More information on the Suku Passi Project is available in Rhyolite's March 22, 2021 news release available at rhyoliteresources. com . Highlights of the Transaction Rhyolite has assumed ONCorp's right to earn up to a 70% interest in the Project, which right is exercisable by completing the following: Suku Passi concession Bob's Pit concession These statements reflect the Company's current expectations regarding future events, performance, and results