Estrella Provides a Corporate Update
- Cost reductions - Current JV projects active - New project search continues - AGM completed & options granted
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/30/13 -- Estrella Gold Corporation (TSX VENTURE: EST) ("Estrella" or the "Company") reports that it is moving ahead with project exploration and the search for new projects. Estrella has also implemented an ongoing program of operating cost reductions through reductions in administration costs and property holding costs. The Company is now looking forward to focusing on moving its projects ahead which are under option or joint venture agreements (4 properties) and acquiring new projects to advance and option out to third parties for exploration.
Estrellla's team in Peru, led by Mr. John Wilson, President and CEO, has recently met with our JV partners - Cliffs Natural Resources Exploration Inc. (Yanac Project), Mines Management, Inc. (La Estrella Project) and Lara Exploration Ltd. (Isy Project). Mr. Wilson has been in contact with partner Esperanza Resources Corporation (Pucarana Project).
The geological team in Peru is also active in looking for new projects to acquire as companies drop projects due to lack of financing and good properties become less expensive to acquire.
Further updates on the exploration programs and results, property acquisitions and dispositions, and options agreements will be provided as they are completed.
After the Annual General Meeting yesterday morning, Mr. John Wilson (Geologist) was re-appointed as the President and CEO and Ms. Winnie Wong (Chartered Accountant) was re-appointed as the Chief Financial Officer and Corporate Secretary. The directors were appointed as expected with Mr. Greg Harris, Chairman, (Lawyer), Mr. Don Taylor (Geologist), Mr. Mark Brown (Financier), and Mr. Fernando Pickmann (Peruvian Lawyer) being re-appointed and Mr. Wilson be appointed as a new director.
The shareholders also approved changing the Company's 20% fixed stock option plan to a 10% rolling stock option plan which limits and reduces the number of stock options to 10% of the outstanding common shares from the old 20% amount.
The Board of Directors also approved the grant of 1,455,000 stock options to directors, officers, employees and consultants of the Company which allow the holders the right to purchase a common share of the Company at a price of $0.08 per share no later than May 29, 2017 or for 4 years from the date of the grant.
About Estrella Gold Corporation (TSX VENTURE: EST) - Mineral exploration is inherently risky and Estrella increases the chances of success as a "Prospect Generator" focused on gold exploration in Latin America. Estrella identifies and acquires new mineral properties, conducts initial, low-cost exploration to define a potential new deposit and then forms joint ventures with other companies that will provide funding for more advanced exploration. Estrella has several active exploration properties in Peru, with four held in venture agreements. The Company has 31.6 million shares issued and outstanding, and is listed on the TSX Venture Exchange (TSX VENTURE: EST).
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STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.
NEITHER 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.
Contacts:
Estrella Gold Corporation
John R. Wilson
President and CEO
(604) 687-3520
Estrella Gold Corporation
Sandrine Lam
Shareholder Communications
(604) 687-3520
(888) 889-4874 (FAX)
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Unternehmensinformation / Kurzprofil:
Datum: 30.05.2013 - 20:45 Uhr
Sprache: Deutsch
News-ID 265062
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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