StraightUp Resources Inc. Releases Update On RLX Project
For Immediate Release
Vancouver, BC, July 4th, 2022- StraightUp Resources Inc. (CSE: ST) (OTCQB: STUPF) ("StraightUp" or the “Company”) is pleased to announce that it has paid its 3rd Option cash payment to Bounty Gold Corporation. Under the agreement, the Company is required to make cash payments over 4 years for an aggregate amount of CDN $150,000 for its flagship properties, including the RLX North, RLX South and Belanger Projects, located within the Red Lake Mining District of Ontario. Under the Option Agreement, the Company is also required over the same period to issue shares with an aggregate value of CDN $300,000.
In furtherance supporting the Company's flagship properties, StraightUp Resources is excited to report that the geological interpretation has been completed by Orix Geoscience Inc. Orix has compiled over 40 years of exploration expenditures on the RLX claims and provided insight and guidance towards future work and resource analysis on the project.
This data from Orix will be released in the coming weeks as the Company's geological team completes its review.
President and Director, Mark Brezer, says, “The RLX Gold Project is our flagship property and continues to be the Company’s primary focus. This new report will be pivotal, illustrating the complexities of a landscape with tremendous potential. The RLX Property neighbours the former Great Bear Resources’ Sobel Project and lies just 20 kilometers north of their tremendous discovery at Dixie”.
The Company would like to thank Rod Husband for his lead role and efforts this year. His resignation as CEO has been accepted and management expresses the best luck in future endeavours.
About StraightUp Resources:
StraightUp is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic, precious and base metal properties of merit. StraightUp intends to conduct exploration on the RLX North, RLX South, Belanger and the Ferdinand Gold Properties, all located in the Red Lake Mining Division as well as the recently acquired Bear Head Gold Project, located within the Meen-Dempster Greenstone Belt of the Uchi Subprovince, approximately 80km west of the Pickle Lake Gold Camp. The Company’s recently acquired West Cat Mine includes an Unpatented Mining Claim on Federal Land, located in the Historic Beatty Mountain Nevada Mining District / Nye County Nevada about 15 km east of US-95, approximately 20 km from Beatty, Nevada at the base of the Bare Mountain Range.
On Behalf of the Board of Directors
Mark Brezer, President and Director
For further information, please contact:
President and Director
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