Ownership, Earn-in and Royalties

3% State net income production on all claims

100% Ownership of Stellar Project

Altius Royalty on core Stellar claim blocks:

  • 2% NSR for precious metals
  • 2% Gross value royalty on U3O8
  • 1% NSR for other metals (including Cu)

Millrock 1% NSR on all claim blocks within Area of Influence (AOI) for all metals

Advanced royalty payment to Millrock from March 2019, US$20k in year 1, escalates by US$5k per annum, deductible from royalty payments,

Cash payment milestones to Millrock:

  • $1M on delineation of 1Moz gold in JORC-Indicated Resource at Zackly
  • US$2M on delineation of 1Mt contained copper metal (or equiv.) in JORC-Indicated resource anywhere on the property
Caribou Dome Property

Remaining commitments related to the Caribou Dome Property are as follows:

  1. Maintaining the claims (licenses) at the property in good standing, including making annual claim rental payments and ensuring minimum expenditure commitments are met;
  2. Either meeting the following qualifying expenditure requirements or completing a feasibility study to mine the Caribou Dome Project:
Due Date Expenditure
12 months ending 1 September 2022 US$400,000
12 months ending 1 September 2023 US$400,000
2 September 2023 to Earn-in deadline (6 June 2024 US$400,000

For any period during which the Company does not complete U$400,000 of qualifying expenditure until it has completed a feasibility study, it shall pay to the underlying vendors a penalty in the amount of 25% of the expenditure shortfall. This payment will be in lieu of the expenditure shortfall. Excess qualifying expenditure in any period may be carried forward to future periods.

  1. Making annual payments to the underlying vendors of the property in the amounts of:
Due Date Payment
6 June 2022 US$100,000
6 June 2023 US$100,000
6 June 2024 US$1,260,000
  1. The issue to certain underlying vendors of $12,500 worth of Shares on or before 1 June 2021 and on or before 1 June of each subsequent year as long as the option remains in effect. For each Share payment instalment, the number of Shares to be issued will be based on the 10-day volume weighted average price of the Company’s shares immediately prior to the date of each Share issue; and
  2. A 5% net smelter return royalty is payable in relation to the sale of ore from the property and the Company has the right to purchase the royalty for US$1,000,000 for each 1.0%.
All Claims
Thank you! Your subscription has been confirmed. You'll hear from us soon.
Email Updates
Enter your details below to receive email updates from PolarX.