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Northern Lights signed an option to acquire a 100% interest in the Secret Pass Gold Projectin Arizona

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The company has until August 21, 2019 to complete its due diligence and exercise its option, which will consist of cash payments of US$350,000 and 2 million shares in staged payments to be completed by October 15, 2019.

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Additional Information:

Company: Northern Lights Resources
Website: http://www.NorthernLightsResources.com
Stock Symbol: CSE: NLR
Date Published: Jul 16, 2019
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Northern Lights Resources has signed an option to acquire a 100% interest in the Secret Pass Gold Project.

The Secret Pass property, which consists of 868 hectares, is located in Mohave County, northwest Arizona.

The company has until August 21, 2019 to complete its due diligence and exercise its option, which will consist of cash payments of US$350,000 and 2 million shares in staged payments to be completed by October 15, 2019.

Jason Bahnsen, CEO, stated: “The Secret Pass Gold Project Transaction represents an excellent opportunity for Northern Lights to acquire a high value exploration gold project at a very attractive price. The property will be 100% owned by Northern Lights and is free of third party royalties. Only 10% of the license area has been explored. There are over 13 km of gold bearing structures offering significant exploration potential for the project. Management believes this acquisition will generate significant value for Northern Lights shareholders.”

The Secret Pass Project is located in the famous Oatman-Katherine Gold District of northwestern Arizona, close to the Nevada and California State borders, includes many historic mines and workings with over 80 separate mines reporting production.

The District, historically Arizona’s third largest gold producing area, was established in 1863 and between 1870 and 1980 it is estimated the district produced more than 2 million ounces of gold and 1 million ounces of silver.

Current operating mines in the area include Northern Vertex’s Moss mine, an open pit heap leach operation that reached commercial production in September 2018, and Para Resources’ Gold Roads Project that reported starting underground production in February 2019.

The Secret Pass property is transected by two major gold bearing regional structures, the Frisco Mine and Union Pass faults, which have combined strike length in excess of 13 kilometers on the property.

The last exploration program was completed on the Secret Pass property was in 1991 and was entirely focused on the Tin Cup and FM gold zones which accounts for less than 10% of the total license area.

Only the area between the Tin Cup and FM gold zones has been drill tested over a strike length of 1.2 kilometers and very limited surface exploration was conducted on the structures located outside of Tin Cup and FM gold zones.

During the period from 1984 to 1991 drilling program, significant gold mineralization was intersected in a number of holes in the Tin Cup Gold Zone.

Assays ranging as high as 40 grams per tonne gold over significant widths at depths ranging from 30 to 180 meters below surface were reported.

These results are historical in nature and a qualified person has not done sufficient work to verify these previous drilling intersections.

The company is also preparing for the first two phases of exploration drilling at its flagship Medicine Springs Project located in Elko County Nevada.

The exploration drill program will consist of 4,900 meters of diamond drilling, with Phase 1 drilling of approximately 2,800 meters on the Golden Pipe prospect beginning in late September or early October 2019, subject to the required permits being in place.

The company is raising up to $3,250,000 from a non-brokered private placement of up to 65,000,000 units, priced at $0.05 per unit.

Each unit consists of one share and one warrant, with the warrant exercisable at $0.075 for 24 months.

The shares are trading at $0.04.

For more information, please visit the company’s website, www.NorthernLightsResources.com, contact Albert (Rick) Timcke, President, at 604-608-6163 or email rtimcke@NorthernLightsResources.com, or contact Jason Bahnsen, CEO, at 604-608-6163 or email jason@NorthernLightsResources.com.

I’m Megan Edwards for Investmentpitch Media