Posescu and Thompson Complete Royalty Agreements on the Kahuna Property for Gold with Solstice Gold and Diamonds with Dunnedin Ventures

VANCOUVER, May 22, 2018 /CNW/ - Sorin Posescu and Gary R. Thompson (Posescu & Thompson) are pleased to announce the completion of the Solstice Gold Spin-Out which is now trading under the ticker SGC:TSX Venture. The completion of the gold rights Spin-out concludes the Kahuna Property Option located in Nunavut subject to the Royalties.

Posescu and Thompson have entered into a Royalty Agreement dated November 14, 2017 with Dunnedin Ventures Inc., and Solstice Gold Corp. Under the terms of the Royalty Agreement, Posescu and Thompson hold a combined 4 percent net smelter royalty (NSR) on gold and other metals and a 4 percent gross over-riding royalty (GORR) on diamonds. The Area of Interest with respect to the NSR and GORR included all claims held by Dunnedin and Solstice within a 35-kilometer radius from the original Kahuna claims, which comprises the majority of the land held by Dunnedin and Solstice. Please see Area of Interest map for the NSR and GORR coverage.

Area of Royalty Interest Posescu and Thompson (CNW Group/XT88 holdings inc)

During the summer of 2014, Posescu and Thompson acquired the Kahuna Property through staking, which included the diamond bearing dikes, Kahuna, Notch and PST. The Kahuna Property was optioned to Dunnedin Ventures Inc. ("Dunnedin") (TSX-V: DVI), as previously announced on August 18, 2014 (the "Kahuna Option Agreement"). The Option Agreement was subsequently amended as announced on May 01, 2017 where Posescu & Thompson entered into a Letter of Agreement with Dunnedin to accelerate the Kahuna Option Agreement ("Option acceleration") allowing Dunnedin to spin out the rights to gold mineralization. Subsequently, Dunnedin's shareholders approved the plan of arrangement at the Annual General Meeting held on December 22, 2017. On January 31, 2018, Dunnedin announced the closing of the gold assets spin out at the Kahuna Project and $8.37M financing. The gold rights are now held by Solstice Gold Corp. (TSX-V: SGC).

For more information about the Kahuna Gold Project please visit the website at the following link: https://www.solsticegold.com/

For more information of the Kahuna Diamond Project please visit the website the following link. https://dunnedinventures.com/

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements:

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

SOURCE XT88 holdings inc