Auriga Gold Completes Acquisition of 46% Interest of the Nokomis Property, Maverick Gold, Manitoba
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 11/22/11 -- Gold Corp. (TSX VENTURE: AIA) ("Auriga Gold" or the "Company") today announced it has completed the acquisition of the Claude Resources ("Claude") 46% minority interest in the Nokomis property, previously announced on November 3, 2011. Prior to the acquisition, Auriga Gold held a 54% interest in the Nokomis property, which is contiguous to the Puffy Lake Property, part of the Maverick Gold Project. The 2,200 hectare, Nokomis property comprises 39 staked claims and is located less than 8 kilometres northeast of the Puffy Lake Mill, near Flin Flon, Manitoba.
Under the terms of acquisition, Auriga Gold has issued to Claude 3,428,571 common shares of Auriga Gold at an issue price of $0.35 per share. This represents approximately 7.8% of the outstanding shares of Auriga Gold. The issued shares are subject to a hold period of four months from November 14, 2011.
About Auriga Gold
Auriga Gold Corp. is a Canadian mining company focused on developing the Puffy Lake Mine and expanding gold resources on its Puffy Lake and Nokomis properties (the "Maverick Gold Project"). The Company plans to upgrade and expand the resources at the Maverick Gold Project, initiate test mining, complete feasibility studies, and bring the Puffy Lake Mine back into production. The Puffy Lake Mine includes a 1,000 tpd flotation mill, a developed underground ramp to 135 metres depth, is fully road accessible and close to existing mining infrastructure. The Maverick Gold Project is located in the Flin Flon Greenstone Belt of Central Manitoba.
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be achieved nor that the proposed operations will be economically viable.
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:
Auriga Gold Corp.
Dr. Richard H. Sutcliffe
President and CEO
416-214-2785
Auriga Gold Corp.
Alison Tullis
Manager, Investor Relations
416-214-2785
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Datum: 22.11.2011 - 15:00 Uhr
Sprache: Deutsch
News-ID 90220
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contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
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