Vancouver, British Columbia – August 18, 2016 – GGL Resources Corp. (TSXV: GGL) (the “Company”) – Mr. Nick DeMare, Corporate Secretary, reports that the Company has sold six mining leases adjoining the southern border of the Gahcho Kue Mine, roughly 4,233 hectares, located approximately 270 kilometers east northeast of Yellowknife, Northwest Territories, to Kennady Diamonds Inc. (“Kennady”).
In consideration for the sale, the Company received from Kennady a cash sum of $200,000 and the Company will retain a 0.75% royalty interest (the “Royalty”) on all mineral products produced from the property. Kennady has the right at any time prior to commencement of production from the property to purchase one-third (1/3) of the Royalty, being 0.25%, for the sum of $1,000,000.
On behalf of the Board,
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