Battle North Gold Signs Commitment Letter For The Development Of Bateman Gold Project

TORONTO – Battle North Gold Corporation has executed a binding commitment letter with Macquarie Bank Limited for a senior secured term loan facility of US$40 million to be used to fund the construction of the 100%-owned, shovel-ready Bateman Gold Project in Red Lake, Ontario, Canada. The proceeds of the Credit Facility, together with cash currently on the Company’s balance sheet, is expected to fully fund the Project to Commercial Production.

President and Chief Executive Officer George Ogilvie, said, “This is a major milestone for the Company and for the community of Red Lake. The Credit Facility, along with our existing cash balance, are expected to provide us with all the funding we require to complete the construction of the Bateman Gold Project. We believe 2021 will be a transformational year for the Company as we look, subject to Board approval, to complete construction and realize first production from the Bateman Gold Mine.  Along with our Red Lake Regional Exploration and String of Pearls drilling programs throughout 2021, it should make for an exciting year.”