{"id":400838,"date":"2020-12-16T08:03:47","date_gmt":"2020-12-16T13:03:47","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=400838"},"modified":"2020-12-16T08:03:47","modified_gmt":"2020-12-16T13:03:47","slug":"kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/","title":{"rendered":"KORE Mining Announces Spin-out of Karus Gold Corp. Creating BC Focused Gold Explorer"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p class=\"prntac\">\n        <b><br \/>\n          <i>Strategic Position in BC&#8217;s Cariboo Gold District with Flagship FG Gold Project<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <span class=\"xn-location\">VANCOUVER, BC<\/span>, <span class=\"xn-chron\">Dec. 16, 2020<\/span> \/PRNewswire\/ &#8211; KORE Mining Ltd. (TSXV: KORE) (OTCQX: KOREF) (&#8220;<b>KORE<\/b>&#8221; or the &#8220;<b>Company<\/b>&#8220;) is pleased to announce plans to transfer all of its <span class=\"xn-location\">British Columbia<\/span> (&#8220;<b>BC<\/b>&#8220;) gold exploration assets (&#8220;<b>Spin-out<\/b>&#8220;) into a newly incorporated company: Karus Gold Corp. (&#8220;<b>Karus<\/b>&#8221; or &#8220;<b><span class=\"xn-person\">Karus Gold<\/span><\/b>&#8220;).\u00a0 <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1386820\/Kore_Mining_KORE_Mining_Announces_Spin_out_of_Karus_Gold_Corp__C.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1386820\/Kore_Mining_KORE_Mining_Announces_Spin_out_of_Karus_Gold_Corp__C.jpg\" title=\"KORE Mining Ltd (CNW Group\/Kore Mining)\" alt=\"KORE Mining Ltd (CNW Group\/Kore Mining)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b>Highlights of <span class=\"xn-person\">Karus Gold<\/span>:<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Unlocks value of BC assets for KORE shareholders through creation of <span class=\"xn-person\">Karus Gold<\/span><\/li>\n<li>Dominant 1,000 km<sup>2<\/sup> land position in the emerging Cariboo Gold District with Osisko Development Corp (TSX:ODV) investing heavily to the north <\/li>\n<li>Flagship FG Gold project open for growth after 2020 Lower Zone discovery intercepts of: <\/li>\n<ul type=\"circle\">\n<li>10.0 meters of 3.9 g\/t gold at 237 meters downhole <\/li>\n<li>14.3 meters of 6.4 g\/t gold at 386 meters downhole<\/li>\n<\/ul>\n<li>Controls under-explored 110 km trend including five high-priority gold prospects <\/li>\n<li>Results from 14 FG Gold holes and ongoing Gold Creek drilling expected through Q1 2021<\/li>\n<\/ul>\n<p>\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3014704-1&amp;h=2873047676&amp;u=https%3A%2F%2Fsoundcloud.com%2Fuser-841796423%2Faudio-nr-2020%2Fs-cqcJXjt5HBj&amp;a=Click+here+to+for+a+CEO+audio+clip\" rel=\"nofollow noopener noreferrer\">Click here to for a CEO audio clip<\/a>\u00a0on the proposed Spin-out.<\/p>\n<p>Following the Spin-out, one hundred percent of <span class=\"xn-person\">Karus Gold<\/span> common shares (the &#8220;<b>Karus Shares<\/b>&#8220;) will be distributed to KORE shareholders on a pro rata basis to their KORE holdings. <span class=\"xn-person\">Karus Gold<\/span> will not initially be listed on a public stock exchange but will operate as a reporting issuer in <span class=\"xn-location\">British Columbia<\/span> and <span class=\"xn-location\">Alberta<\/span>. \u00a0In early 2021, <span class=\"xn-person\">Karus Gold<\/span> intends to conduct a rights offering to all Karus shareholders to initially capitalize the company, followed by a planned public stock exchange listing in the first half of 2021. \u00a0Karus Gold would have the advantage of the ongoing drilling at Gold Creek and results from the completed FG Gold drill program expected to be released through Q1 2021.<\/p>\n<p>The Spin-out would enable KORE&#8217;s shareholders to realize the expected growth and returns from exploration investment through direct ownership in <span class=\"xn-person\">Karus Gold<\/span>.\u00a0 Upon completion of the Spin-out, KORE will continue as a leading gold company with a focus on growing and developing the Imperial and <span class=\"xn-person\">Long Valley<\/span> gold projects.\u00a0 The transaction is supported by Mr. <span class=\"xn-person\">Eric Sprott<\/span>, KORE&#8217;s largest shareholder.<\/p>\n<p>KORE&#8217;s CEO <span class=\"xn-person\">Scott Trebilcock<\/span> stated: &#8220;The creation of <span class=\"xn-person\">Karus Gold<\/span> unlocks value for KORE shareholders, by providing direct exposure to high return exploration in the rapidly emerging Cariboo Gold District.\u00a0 KORE continues to focus on exploration and development of its pipeline of gold assets in California.\u00a0 KORE shareholders will be offered equal access to the initial capitalization of <span class=\"xn-person\">Karus Gold<\/span> through a planned rights offering in early 2021.\u00a0 KORE shareholders helped the Company achieve strong returns in 2020 and we plan on delivering again in 2021.&#8221;<\/p>\n<p>\n        <span class=\"xn-person\">Eric Sprott<\/span>, KORE&#8217;s largest shareholder commented, &#8220;I support management teams that actively work to generate shareholder value.\u00a0 I am pleased to support this transaction to daylight value of KORE&#8217;s strategic position in the Cariboo Gold District.&#8221;<\/p>\n<p>Additional information about <span class=\"xn-person\">Karus Gold<\/span> is available at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3014704-1&amp;h=2696061053&amp;u=https%3A%2F%2Fwww.koremining.com%2FKarus&amp;a=www.koremining.com%2FKarus\" rel=\"nofollow noopener noreferrer\">www.koremining.com\/Karus<\/a>.<\/p>\n<p>\n        <b>Terms of the Arrangement<br \/><\/b>KORE has executed an arrangement agreement whereby the business of KORE will be reorganized into two companies by way of a plan of arrangement (the &#8220;<b>Arrangement<\/b>&#8220;) under the <i>Business Corporations Act<\/i> (<span class=\"xn-location\">British Columbia<\/span>). \u00a0KORE will apply for an interim order from the Supreme Court of <span class=\"xn-location\">British Columbia<\/span> on or about <span class=\"xn-chron\">December 18, 2020<\/span>, authorizing the Company to call a shareholder meeting to approve the Arrangement.<\/p>\n<p>KORE shareholders will vote on the Arrangement at a special meeting of shareholders (the &#8220;<b>Meeting<\/b>&#8220;) which is expected to be held on or about <span class=\"xn-chron\">January 20, 2021<\/span> at <span class=\"xn-chron\">10:00 am Pacific Time<\/span>. \u00a0In light of the ongoing COVID-19 pandemic, the Meeting will be held by way of virtual only format whereby shareholders may participate in the Meeting remotely. To be effective, the Arrangement must be approved by a special resolution passed by at least 66\u2154% of the votes cast by KORE shareholders present or represented by proxy at the Meeting and 50% of the disinterested shareholder votes cast by KORE shareholders present or represented by proxy at the Meeting.\u00a0 Each shareholder is entitled to one vote for each KORE common share held.<\/p>\n<p>For purposes of voting on the Arrangement, 2176423 Ontario Ltd. (a corporation beneficially controlled by Mr. <span class=\"xn-person\">Eric Sprott<\/span>), which holds 25.75% of the Company&#8217;s currently issued and outstanding common shares is an insider and control person, will be excluded from the disinterested vote as the sole warrant holder of KORE. Pursuant to the Arrangement, 2176423 Ontario Ltd.\u00a0will be issued 1,750,000 Karus warrants at an exercise price of <span class=\"xn-money\">$0.75<\/span> per <span class=\"xn-person\">Karus Share<\/span>, exercisable for the same period of time as the KORE warrants.\u00a0 <\/p>\n<p>The Arrangement involves, among other things, the distribution of Karus Shares to KORE shareholders such that each KORE shareholder will hold one <span class=\"xn-person\">Karus Share<\/span> for every two common shares of KORE held on the effective date of the Arrangement and collectively, KORE shareholders, other than dissenting shareholders, will own 100% of <span class=\"xn-person\">Karus Gold<\/span>. There will be no change in the number of shareholdings of individual KORE shareholders as a result of the Spin-Out.<\/p>\n<p>After careful consideration, the Board of Directors has unanimously determined that the Arrangement is in the best interests of the Company. A description of the various factors considered by the Board of Directors in arriving at this determination will be provided in the management information circular (the &#8220;Circular&#8221;).<\/p>\n<p>The Arrangement is anticipated to be completed in late <span class=\"xn-chron\">January 2021<\/span> subject to receipt of required shareholder, court and other approvals and satisfaction of other closing conditions. Further details will be contained in the Circular to be issued in connection with the Meeting, which will be mailed to shareholders in advance of the Meeting following receipt of the interim order.\u00a0 Shareholders of the Company are cautioned that there can be no assurance that the Arrangement will be completed on the terms described herein or at all.<\/p>\n<p>After closing of the Arrangement, new KORE shares will continue trading on the TSX Venture Exchange in <span class=\"xn-location\">Canada<\/span> under the symbol KORE and on the OTCQX in <span class=\"xn-location\">the United States<\/span>. \u00a0Karus Gold Shares will not be listed on a stock exchange after closing of the Arrangement but Karus will be a reporting issuer in <span class=\"xn-location\">British Columbia<\/span> and <span class=\"xn-location\">Alberta<\/span> and will comply with its continuous disclosure obligations including press releases and financial reporting.\u00a0 <span class=\"xn-person\">Karus Gold<\/span> intends to conduct a rights offering to initially capitalize itself, followed by a public stock exchange listing. \u00a0The Karus Board will consider other opportunities to enhance value including mergers and acquisitions in addition to a potential stock exchange listing.<\/p>\n<p>\n        <span class=\"xn-person\">Karus Gold&#8217;s<\/span> day-to-day activities will be managed by <span class=\"xn-person\">James Hynes<\/span> as interim CEO, <span class=\"xn-person\">Jessica Van Den Akker<\/span> as CFO and Corporate Secretary and <span class=\"xn-person\">Michael Tucker<\/span> as VP Exploration.\u00a0 Mr. Hynes and Mrs. <span class=\"xn-person\">Van Den Akker<\/span>, will also continue with their KORE responsibilities. Immediately upon the closing of the Arrangement, the Board of <span class=\"xn-person\">Karus Gold<\/span> will consist of <span class=\"xn-person\">Scott Trebilcock<\/span>, <span class=\"xn-person\">James Hynes<\/span>, <span class=\"xn-person\">Marc Leduc<\/span> and <span class=\"xn-person\">Jessica Van Den Akker<\/span>. \u00a0In support of a public stock exchange listing, it is expected that Karus will engage a permanent CEO and appoint new independent Directors.<\/p>\n<p>\n        <b>About KORE&#8217;s South Cariboo Exploration Assets<br \/><\/b>KORE controls a dominant 1,000 square kilometers of claims in its South Cariboo Gold District of British Columbia.\u00a0 The claims host 110 km of structural trend that is highly prospective for gold deposits.\u00a0 The north part of the Cariboo Gold District is controlled by Osisko Development Corp (TSXV: ODV), which is financing a major exploration and development program that will bring attention to the Cariboo Gold District.\u00a0 KORE has multiple projects in the Cariboo Gold District, including the FG Gold and Gold Creek gold projects.\u00a0 Much of the area is under-explored and wide open for additional discoveries.\u00a0 The Cariboo region is a prolific gold region.\u00a0 The Cariboo Gold District was host to the Cariboo gold rush in the late 1800&#8217;s, followed by a long history of modern gold mining.\u00a0 The Cariboo region is accessible with local power, a well-developed road network and skilled local labour.\u00a0 <\/p>\n<p>The FG Gold project hosts an orogenic gold deposit on a 20 km trend defined by gold in soils and geophysics.\u00a0 Drilling performed by KORE in 2020 transformed the project, opening up the potential for both open pit and underground type mineralization.\u00a0 The project also hosts copper-gold porphyry mineralization at the Nova Zone, discovered by KORE in 2018. \u00a0Details of FG Gold Lower Zone discovery including intercepts reported above are detailed in <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3014704-1&amp;h=3081263201&amp;u=https%3A%2F%2Fwww.koremining.com%2Fnews%2F2020%2F11%2F11%2Fkore-mining-drills-313-meters-of-32-gt-gold-including-143-meters-of-64-gt-gold-in-large-215-meter-step-out-at-fg-gold-project&amp;a=November+11%2C+2020\" rel=\"nofollow noopener noreferrer\"><span class=\"xn-chron\">November 11, 2020<\/span><\/a>\u00a0Company news release.<\/p>\n<p>The Gold Creek project is an orogenic gold discovery centered on the &#8220;Camp Zone&#8221; which show similarities to the high-grade zone of the nearby Spanish Mountain Gold Deposit (TSXV:SPA).\u00a0 The Camp Zone&#8217;s near surface mineralization currently extends over 400 metres along strike and is open along both strike and at depth.\u00a0 KORE is currently drilling a 2,000-meter program to expand Gold Creek.<\/p>\n<p>In connection with the transaction, the Company and Karus will file an updated National Instrument\u00a043-101 compliant Technical Report titled &#8220;Technical Report on the South Cariboo Property, <span class=\"xn-location\">British Columbia, Canada<\/span>&#8221; effective <span class=\"xn-chron\">November 15, 2020<\/span>, prepared by independent qualified persons <span class=\"xn-person\">Ron Voordouw<\/span>, P.Geo., <span class=\"xn-person\">Henry Awmack<\/span>, P. Eng., and Equity Exploration Consultants Ltd (the &#8220;<b>Updated Report<\/b>&#8220;).\u00a0 The Updated Report replaces the previously filed technical report issued to Eureka Resources Inc. in 2015 and amends prior disclosure regarding mineral resources on the FG Gold and Gold Creek gold projects.\u00a0 The Updated Report will be available on the Company&#8217;s website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3014704-1&amp;h=2696061053&amp;u=https%3A%2F%2Fwww.koremining.com%2FKarus&amp;a=www.koremining.com%2FKarus\" rel=\"nofollow noopener noreferrer\">www.koremining.com\/Karus<\/a> and under KORE&#8217;s profile on SEDAR at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3014704-1&amp;h=582746650&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>.<\/p>\n<p>\n        <b>About KORE Mining<br \/><\/b>KORE is 100% owner of a portfolio of advanced gold exploration and development assets in <span class=\"xn-location\">California<\/span> and British Columbia.\u00a0 KORE is supported by strategic investor <span class=\"xn-person\">Eric Sprott<\/span> who recently invested <span class=\"xn-money\">$7.0 million<\/span>, bringing his total ownership to 26%.\u00a0 KORE management and Board are aligned with shareholders, owning an additional 38% of the basic shares outstanding.\u00a0 KORE is actively developing its Imperial Gold project and is aggressively exploring across its portfolio of assets.<\/p>\n<p>Further\u00a0information on the Spin-out and KORE can be found on the Company&#8217;s website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3014704-1&amp;h=2696061053&amp;u=https%3A%2F%2Fwww.koremining.com%2FKarus&amp;a=www.koremining.com%2FKarus\" rel=\"nofollow noopener noreferrer\">www.koremining.com\/Karus<\/a>\u00a0or by contacting us as <a target=\"_blank\" href=\"mailto:karusgold@koremining.com\" rel=\"nofollow noopener noreferrer\">karusgold@koremining.com<\/a>. <\/p>\n<p>\n        <b>On behalf of KORE Mining Ltd<br \/><\/b><br \/>\n        <i>&#8220;Scott Trebilcock&#8221;<br \/><\/i>Chief Executive Officer<\/p>\n<p>\n        <b>Karus Gold Spin Out Investor Support<\/b><br \/>\n        <br \/>\n        <span class=\"xn-person\">David Jan<\/span><br \/>\n        <br \/>1-888-455-7620<br \/><a target=\"_blank\" href=\"mailto:karusgold@koremining.com\" rel=\"nofollow noopener noreferrer\">karusgold@koremining.com<\/a><\/p>\n<p><b>KORE Investor Relations<br \/><\/b><span class=\"xn-person\">Arlen Hansen<\/span>, KIN Communications<br \/>1-888-684-6730<br \/><a target=\"_blank\" href=\"mailto:kore@kincommunications.com\" rel=\"nofollow noopener noreferrer\">kore@kincommunications.com<\/a><\/p>\n<p>Technical information with respect to the Cariboo Gold District, FG Gold and the Gold Creek Projects contained in this news release has been reviewed and approved by\u00a0Michael Tucker, P. Geo. who is KORE&#8217;s VP Exploration and is the qualified person under National Instrument 43-101 responsible for the technical matters of this news release.<\/p>\n<p>\n        <b>Neither the TSX Venture Exchange 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.<\/b>\n      <\/p>\n<p>\n        <u>Cautionary Statement Regarding Forward-Looking Information<\/u>\n      <\/p>\n<p>This news release contains forward-looking statements relating to the future operations of the Company and <span class=\"xn-person\">Karus Gold<\/span> and other statements that are not historical facts. Forward-looking statements are often identified by terms such as &#8220;will&#8221;, &#8220;may&#8221;, &#8220;plan&#8221;, &#8220;should&#8221;, &#8220;anticipate&#8221;, &#8220;expects&#8221;, &#8220;intends&#8221;, &#8220;indicates&#8221; and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company and <span class=\"xn-person\">Karus Gold<\/span> are forward-looking statements.\u00a0 Forward-looking statements in this news release include, but are not limited to, the expected timeline and date of completion of the Arrangement, the ability of KORE to receive and obtain shareholder approval and court approval, the ability of the parties to satisfy, in a timely manner, the other conditions to closing of the Arrangement, the future listing of <span class=\"xn-person\">Karus Gold<\/span> and the expected timeline and completion of the anticipated Karus rights offering. There can be no assurance that the Arrangement will be completed or that it will be completed on the terms and conditions contemplated in this news release. The Arrangement could be modified or terminated in accordance with its terms. Such forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information.\u00a0 <\/p>\n<p>Such factors include, among others: the Arrangement will be completed on the terms currently contemplated, the Arrangement will be completed in accordance with the timing currently expected without any undue delay, all conditions to the completion of the Arrangement will be satisfied or waived in due course and the Arrangement Agreement will not be terminated prior to the completion of the Arrangement, assumptions and expectations related to the trading price of KORE and the future listing of <span class=\"xn-person\">Karus Gold<\/span>, and other expectations and assumptions concerning the Arrangement.\u00a0 <\/p>\n<p>In addition to the above summary, additional risks and uncertainties inherent to the Company and its operations are described in the &#8220;Risk Factors&#8221; section of the Company&#8217;s management discussion and analysis for the year ended <span class=\"xn-chron\">December 31, 2019<\/span>, prepared as of <span class=\"xn-chron\">April 27, 2020<\/span>, available under the Company&#8217;s issuer profile on <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3014704-1&amp;h=582746650&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>. Other risks and uncertainties include, among other things: the Arrangement may not be completed on the terms, or in accordance with the timing currently contemplated, or at all; the Company and <span class=\"xn-person\">Karus Gold<\/span> has incurred expenses in connection with the Arrangement and will be required to pay for those expenses regardless of whether or not the Arrangement is completed; the Company and <span class=\"xn-person\">Karus Gold<\/span> may not be successful in satisfying the conditions to the Arrangement, including failing to obtain KORE shareholder approval; the possibility of adverse reactions or changes in business relationships resulting from the announcement or completion of the Arrangement; the failure to realize the expected benefits of the Arrangement; and other risks inherent to KORE&#8217;s current business and\/or factors beyond its control which could have a material adverse effect on KORE or the ability to consummate the Arrangement.<\/p>\n<p>Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.\u00a0 <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=VA25754&amp;sd=2020-12-16\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer-301193737.html\">http:\/\/www.prnewswire.com\/news-releases\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer-301193737.html<\/a><\/p>\n<p>SOURCE  Kore Mining<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=VA25754&amp;Transmission_Id=202012160800PR_NEWS_USPR_____VA25754&amp;DateId=20201216\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Strategic Position in BC&#8217;s Cariboo Gold District with Flagship FG Gold Project VANCOUVER, BC, Dec. 16, 2020 \/PRNewswire\/ &#8211; KORE Mining Ltd. (TSXV: KORE) (OTCQX: KOREF) (&#8220;KORE&#8221; or the &#8220;Company&#8220;) is pleased to announce plans to transfer all of its British Columbia (&#8220;BC&#8220;) gold exploration assets (&#8220;Spin-out&#8220;) into a newly incorporated company: Karus Gold Corp. (&#8220;Karus&#8221; or &#8220;Karus Gold&#8220;).\u00a0 Highlights of Karus Gold: Unlocks value of BC assets for KORE shareholders through creation of Karus Gold Dominant 1,000 km2 land position in the emerging Cariboo Gold District with Osisko Development Corp (TSX:ODV) investing heavily to the north Flagship FG Gold project open for growth after 2020 Lower Zone discovery intercepts of: 10.0 meters of 3.9 g\/t gold at &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;KORE Mining Announces Spin-out of Karus Gold Corp. Creating BC Focused Gold Explorer&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-400838","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>KORE Mining Announces Spin-out of Karus Gold Corp. Creating BC Focused Gold Explorer - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KORE Mining Announces Spin-out of Karus Gold Corp. Creating BC Focused Gold Explorer - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Strategic Position in BC&#8217;s Cariboo Gold District with Flagship FG Gold Project VANCOUVER, BC, Dec. 16, 2020 \/PRNewswire\/ &#8211; KORE Mining Ltd. (TSXV: KORE) (OTCQX: KOREF) (&#8220;KORE&#8221; or the &#8220;Company&#8220;) is pleased to announce plans to transfer all of its British Columbia (&#8220;BC&#8220;) gold exploration assets (&#8220;Spin-out&#8220;) into a newly incorporated company: Karus Gold Corp. (&#8220;Karus&#8221; or &#8220;Karus Gold&#8220;).\u00a0 Highlights of Karus Gold: Unlocks value of BC assets for KORE shareholders through creation of Karus Gold Dominant 1,000 km2 land position in the emerging Cariboo Gold District with Osisko Development Corp (TSX:ODV) investing heavily to the north Flagship FG Gold project open for growth after 2020 Lower Zone discovery intercepts of: 10.0 meters of 3.9 g\/t gold at &hellip; Continue reading &quot;KORE Mining Announces Spin-out of Karus Gold Corp. Creating BC Focused Gold Explorer&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-16T13:03:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1386820\/Kore_Mining_KORE_Mining_Announces_Spin_out_of_Karus_Gold_Corp__C.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"12 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"KORE Mining Announces Spin-out of Karus Gold Corp. Creating BC Focused Gold Explorer\",\"datePublished\":\"2020-12-16T13:03:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\\\/\"},\"wordCount\":2408,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1386820\\\/Kore_Mining_KORE_Mining_Announces_Spin_out_of_Karus_Gold_Corp__C.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\\\/\",\"name\":\"KORE Mining Announces Spin-out of Karus Gold Corp. Creating BC Focused Gold Explorer - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1386820\\\/Kore_Mining_KORE_Mining_Announces_Spin_out_of_Karus_Gold_Corp__C.jpg\",\"datePublished\":\"2020-12-16T13:03:47+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\\\/#primaryimage\",\"url\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1386820\\\/Kore_Mining_KORE_Mining_Announces_Spin_out_of_Karus_Gold_Corp__C.jpg\",\"contentUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1386820\\\/Kore_Mining_KORE_Mining_Announces_Spin_out_of_Karus_Gold_Corp__C.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"KORE Mining Announces Spin-out of Karus Gold Corp. Creating BC Focused Gold Explorer\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"KORE Mining Announces Spin-out of Karus Gold Corp. Creating BC Focused Gold Explorer - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/","og_locale":"en_US","og_type":"article","og_title":"KORE Mining Announces Spin-out of Karus Gold Corp. Creating BC Focused Gold Explorer - Market Newsdesk","og_description":"PR Newswire Strategic Position in BC&#8217;s Cariboo Gold District with Flagship FG Gold Project VANCOUVER, BC, Dec. 16, 2020 \/PRNewswire\/ &#8211; KORE Mining Ltd. (TSXV: KORE) (OTCQX: KOREF) (&#8220;KORE&#8221; or the &#8220;Company&#8220;) is pleased to announce plans to transfer all of its British Columbia (&#8220;BC&#8220;) gold exploration assets (&#8220;Spin-out&#8220;) into a newly incorporated company: Karus Gold Corp. (&#8220;Karus&#8221; or &#8220;Karus Gold&#8220;).\u00a0 Highlights of Karus Gold: Unlocks value of BC assets for KORE shareholders through creation of Karus Gold Dominant 1,000 km2 land position in the emerging Cariboo Gold District with Osisko Development Corp (TSX:ODV) investing heavily to the north Flagship FG Gold project open for growth after 2020 Lower Zone discovery intercepts of: 10.0 meters of 3.9 g\/t gold at &hellip; Continue reading \"KORE Mining Announces Spin-out of Karus Gold Corp. Creating BC Focused Gold Explorer\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-16T13:03:47+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1386820\/Kore_Mining_KORE_Mining_Announces_Spin_out_of_Karus_Gold_Corp__C.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"12 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"KORE Mining Announces Spin-out of Karus Gold Corp. Creating BC Focused Gold Explorer","datePublished":"2020-12-16T13:03:47+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/"},"wordCount":2408,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1386820\/Kore_Mining_KORE_Mining_Announces_Spin_out_of_Karus_Gold_Corp__C.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/","name":"KORE Mining Announces Spin-out of Karus Gold Corp. Creating BC Focused Gold Explorer - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1386820\/Kore_Mining_KORE_Mining_Announces_Spin_out_of_Karus_Gold_Corp__C.jpg","datePublished":"2020-12-16T13:03:47+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/#primaryimage","url":"https:\/\/mma.prnewswire.com\/media\/1386820\/Kore_Mining_KORE_Mining_Announces_Spin_out_of_Karus_Gold_Corp__C.jpg","contentUrl":"https:\/\/mma.prnewswire.com\/media\/1386820\/Kore_Mining_KORE_Mining_Announces_Spin_out_of_Karus_Gold_Corp__C.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kore-mining-announces-spin-out-of-karus-gold-corp-creating-bc-focused-gold-explorer\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"KORE Mining Announces Spin-out of Karus Gold Corp. Creating BC Focused Gold Explorer"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/400838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=400838"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/400838\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=400838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=400838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=400838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}