ARCTIC FOX MINERALS

Ontario

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Overview


The Company is currently engaged in the business of mineral exploration in the Northwest Territories, Canada. 

Pursuant to an assignment and assumption agreement dated December 04, 2020 (the “Assignment Agreement”) between Rover Metals Corp. (“Rover”) and the Company, the Company has assumed Rover’s first option to acquire a 75% interest (the “First Option”) in the Up Town Gold property (the “Up Town Gold Property” or the “Property”). Among other terms, In order to satisfy the terms of the First Option, Melius is required to issue shares and cash to Rover, make a payment to the original optioners, Silver Range Resources (“SNG”), and complete $1.25 million in expenditures on the Property.  If and when the Company satisfies all obligations under the First Option, Rover has the option to purchase the remaining 25% of the Property (the “Second Option”) by making a share payment. Upon the exercise of the First Option, the Property assets shall become subject to a net smelter royalty return interest of 2% in favour of SNG, one half of which may be purchased by the Company for CAD$1,000,000 prior to commencing production.

The Property is located in Canada’s Northwest Territories, approximately three kilometers north of the city of Yellowknife. The Property is comprised of six mineral claims, totaling 3,267.24 hectares.

A geological report (the “Technical Report”) prepared by David White, P. Geo., who is a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), was completed in relation to the Property on January 27, 2021. The Technical Report recommends that the Company conduct a program consisting of geophysics (Induced Polarization survey) and diamond drilling, to retest historical drill results and to test any identified geophysical anomalies. The estimated budget is $650,000.

Crowdfunded Activities

Here's how MELIUS CAPITAL CORP. is planning on using the funds raised from this crowdfunding:

  Minimum Raise Maximum Raise
General Working Capital $4,600 $27,600
Portal Fees (Note 1) $400 $2,400
TOTAL $5,000 $30,000
Note1 See item 9.1 of this document (Compensation)
$7,400 raised

148% of Goal

Offering up to 300,000 Special Warrants convertible into common shares at $ 0.10

Minimum Investment: $100

75 Days Remaining

31 Investors

This project will only be financed if at least $5,000 is raised by Aug 27, 2021

Note: All funds are expressed in Canadian dollars.