August 1, 2023 – Vancouver, British Columbia – Thunderstruck Resources Ltd. (The “Company”) is pleased to announce that it has entered into an Asset Sale Agreement dated July 26, 2023 with Austasia Investments Pte Ltd. to acquire a track mounted drill rig and related equipment for aggregate consideration of USD$211,726, of which US$100,000 will be paid through the set off a previously advanced deposit, US$86,726 will be paid through the issuance of 722,717 units (each a “Unit”) at a deemed price of US$0.12 per Unit and the remaining US$25,000 will be paid within six months.
Each Unit will comprise one common share and one share purchase warrant. Each warrant will entitle the holder to acquire an additional common share at a price of US$0.20 per share for a period of 36 months.
The transaction is subject to regulatory approval, including the approval of the TSX Venture Exchange.
About Thunderstruck Resources
Thunderstruck Resources is a Canadian mineral exploration company focused on the discovery of high value gold-silver epithermal and copper-gold porphyry deposits on the main island of Viti Levu in Fiji.
Fiji has a long history of mining with over 75 years of activity at the prolific Vatukoula Gold Mine alongside several advanced development projects including Tuvatu (Lion One LIO:TSX.V), Indicated Resources of 1.00 Mt @ 8.48 g/t Au (274,600 oz), Inferred Resources of 1.33 Mt @ 9.0 g/t Au (384,000 oz) (TuvatuPEA-Update-NI-43-101) and Namosi (Newcrest Mining NCM:ASX), Proven, Measured and Indicated Resources of 1.8Bt at 0.35% Cu and 0.11 g/t Au (6.4M oz Au and 6.3Mt Cu) (Newcrest Annual Mineral Resources Update, June 2022).
The Company provides investors with exposure to a diverse portfolio of exploration stage projects with potential for zinc, copper, gold and silver in a politically safe and stable jurisdiction. Thunderstruck trades on the Toronto Venture Exchange (TSX-V) under the symbol “AWE” and United States OTC under the symbol “THURF.”
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed “forward-looking statements”. Although Thunderstruck believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Thunderstruck’s management on the date the statements are made. Except as required by law, Thunderstruck undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.