Company: GNTOF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001062993-25-008252
Chunk: 10

Company: GENTOR RESOURCES INC.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4
Chunk 10
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 liabilities.

As used in this document, the "Company" and "Gentor" refer to the existing Cayman Islands entity, Gentor Resources Inc., as well as the predecessor Florida entity, Gentor Resources, Inc. (incorporated on March 24, 2005).

In April 2012, the Company announced that it had entered into an agreement with a Turkish company pursuant to which the Company was granted a 12 month option period (the "Hacimeter Option") for the purposes of funding and carrying out the exploration for copper and base metals on properties (the "Hacimeter Project") located in northeastern Turkey.

In August and September 2012, the Company announced drilling results from the Hacimeter Project. This drilling program outlined significant high-grade massive sulphide extensions to the shallow stringer type volcanogenic massive sulphide ("VMS") system initially discovered at the Hacimeter Project.

In June 2012, the Company announced maiden Canadian National Instrument 43-101 mineral resource estimates for the Mahab 4 and Maqail South prospects at the Company's Block 5 property in Oman.

In October 2013, the Company announced that (a) the Company's search for Cyprus-type VMS deposits in Turkey has resulted in the identification in northern Turkey of several surface gossans in distal VMS settings and led to the signing by the Company's local subsidiary in Turkey of two new joint venture option agreements with local Turkish groups (one of these agreements relates to the Company's relinquished Karaburun project, which is discussed below), (b) having discovered further VMS mineralisation, but of insufficient size to eventually establish a commercial mining operation at the Hacimeter Project, Gentor allowed the Hacimeter Option to expire without continuing to form a joint venture, and (c) in light of continued depressed market conditions, Gentor was proposing to undertake a strategic review of its Oman properties over the coming months.

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Gentor determined during fiscal 2013 that it would not continue with its molybdenum-tungsten project in east-central Idaho, U. S. and relinquished its rights in respect of this project. The Company had not carried out any exploration work at this project since fiscal 2008.

In January 2014, the Company completed a non-brokered private placement for total gross proceeds of Cdn$393,750. Arnold T. Kondrat (a director and officer of the Company) was the sole purchaser under