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Robert's Lake property acquisition

The TSX Venture Exchange has accepted for filing an option agreement  (the Robert's Lake agreement) between Gulfside Minerals Ltd. and an  arm's-length individual named Kal Malhi, pursuant to which the company  has the option to acquire up to a 100-per-cent interest in 128 claims in  Northern Quebec that comprise the Robert's Lake property.

The total consideration payable in stages by the company over a  seven-year period ending Oct. 31, 2018, to the Robert's Lake vendor in  stages is:

• $3.54-million cash ($140,000 cash payable in the first year);
• One million common shares (one million common shares payable in the first year).

In addition, the company must incur total exploration expenditures on  the Robert's Lake property of $2.9-million by Oct. 31, 2018 ($150,000 to  be incurred in the first year).  The Robert's Lake vendor is also  entitled to a 2-per-cent net smelter return (NSR) on the Robert's Lake  property, with the company having the right to reduce the NSR to 1 per  cent by paying the Robert's Lake vendor $1.5-million cash.