Goldplay Signs $3.75M Letter of Agreement to JV Part of Its Portuguese Assets

VANCOUVER, BC / ACCESSWIRE / June 13, 2022 / (TSXV:AUC)(OTCQB:AUCCF)(Frankfurt:9FY), (the "Company" or "Goldplay"), is pleased to announce that it has signed a Letter of Agreement (the "LOA") with Cullinan Metals Corp (CSE: CMT) ("Cullinan"), a copper focused public company, in regards to Goldplay's Borba 2 projects located in Portugal.

Terms of the Agreement

Cullinan can acquire 100% interest in the Borba 2 properties by making the following cash and share payments to Goldplay and incurring certain exploration expenditures over a 4 years period.

Date	Cash	Share Issuance in $ Equiv.	Aggregate of Work Expenditures
Upon signing the Definitive Agreement	$50,000
60 days after regulatory approval	$200,000	$250,000	NI 43-101 Report
One Year Anniversary	$75,000	$350,000	$0.2 Million
Two Year Anniversary	$100,000	$500,000	$0.3 Million
Three Year Anniversary	$150,000	$750,000	$0.5 Million
Four Year Anniversary	$175,000	$1,150,000	$0.5 Million
Total