Velocity Enters into Option Agreement to Acquire up to 75% Interest in the Zlatusha Copper-Gold Property in Bulgaria
VANCOUVER, British Columbia, Jan. 24, 2023 (GLOBE NEWSWIRE) — Velocity Minerals Ltd. (TSX.V: VLC, OTCQB:VLCJF) (“Velocity” or the “Company”) announces that it has entered into a binding letter agreement with Zelenrok EOOD (“Zelenrok”), a wholly-owned subsidiary of Raiden Resources Limited (collectively with Zelenrok, “Raiden”), whereby Velocity has been granted an exclusive option to acquire, in two stages, up to a 75% interest (the “Option”) in and to the prospecting and exploration licence covering the 195 km² Zlatusha gold-copper property (“Zlatusha” or the “Property”), located in Bulgaria. The Option consists of a first option to acquire up to a 51% interest (the “First Option”) and a second option (the “Second Option”) to acquire an additional 24% (aggregate 75%) interest in and to the Property.