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Northern Lights Resources Sells Secret Pass Gold Project, Retains NSR
Vancouver, British Columbia — June 19, 2025 — NewsWall — Northern Lights Resources Corp. (CSE:NLR, OTC: NLRCF) has entered into a definitive agreement to sell a 100% interest in the Secret Pass Gold Project to a private third-party company.
The total consideration for the Secret Pass Project includes $600,000 in cash and equity payments, plus Northern Lights retains a 2% Net Smelter Return (NSR) on the Project.
Upon closing of the Transaction, Northern Lights will receive $150,000 in cash (including a $25,000 deposit) and $150,000 as the first of three equal annual equity consideration payments totaling $450,000. The Buyer may purchase 1% of the NSR back by paying Northern Lights US$1,000,000.
Northern Lights acquired the Secret Pass Gold Project in 2021 and completed an initial core drilling program focused on the Tin Cup prospect. The company will now focus on exploration and value creation at the Horetzky copper project in British Columbia.
The Transaction is subject to required regulatory approvals, and Northern Lights has agreed to pay a finder’s fee of $30,000 payable in NLR shares to a third-party consultant.
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
Source: Northern Lights Resources Corp.