Schryburt Lake Project

Bindi Metals has entered into a Joint Venture option agreement with Canamera Energy Metals under which Canamera has the right to earn up to a 90 percent interest in the Schryburt Lake Project through staged cash payments, equity consideration, and substantial exploration expenditure commitments.

The agreement has been structured to fund systematic exploration and advancement of the project while preserving Bindi’s exposure to exploration success and long term value creation.

Initial Earn In to 51 percent – $25,000 cash, issuing of 250,000 Canamera shares to Bindi Metals and funding an aggregate of $1,500,000 in Project expenditures on or before the date is 12 months from the date that all required permits are received for such work. 

Second Earn In to 76 percent – Following the exercise of the initial earn in, Canamera may increase its interest to 76 percent by incurring an additional 3.0 million dollars in exploration expenditures within two years of exercising the first option.

Final Earn In to 90 percent  –Canamera may elect to earn a further interest up to 90 percent by completing an additional $4.5 million dollars in exploration expenditures within two years of exercising the second option.  Across all stages, exploration activities are to be conducted and funded by Canamera, with Bindi not required to contribute capital during the earn in period.