LOI To Purchase The Nugget Pond Gold Plant

TORONTO - Maritime Resources Corp. has signed a further letter of intent with Rambler Metals & Mining Canada Limited, a wholly-owned subsidiary of Rambler Metals and Mining PLC, to purchase the existing gold circuit at the Nugget Pond metallurgical facility and a number of Canadian exploration properties and royalties. The proposed transaction is expected to close during the first quarter of 2021.

Garett Macdonald, President and CEO, said, "We are pleased to announce this transaction with Rambler to purchase the gold processing circuit which is an important component to the Hammerdown Gold Project as we advance the project towards a development decision. The addition of the royalty package and a number of Canadian gold properties, particularly in the world-renowned Abitibi Greenstone Belt, provides additional exposure to a strengthening gold market."