Golden Share Consolidates Land Package at Berens River North of Red Lake, Ontario, Canada
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwire) -- 12/20/11 -- Editors' Note: Two maps are associated with this press release
Golden Share Mining Corporation ("Golden Share" or the "Company")(TSX VENTURE: GSH) is pleased to announce it has entered into an option agreement dated December 16, 2011 with Favourable Lake Gold ("FLG"), a private Canadian company, to acquire a 100% interest in 20 unpatented claims, representing 220 units, located in the Setting Net Lake and North Trout Lake areas of northwestern Ontario, Canada (the "Property").
The optioned claims consist in two discrete blocks and consolidate Golden Share's Berens River property by providing access to two important areas :
Please see the attached two figures or visit : . Highlights for both areas comprise :
Berens Extension
Berens South
About the Sandy Lake First Nation
The Berens River project is located on the Sandy Lake First Nation traditional territory. During the month of November 2011, Golden Share held a second meeting with the Chief and Council of the Sandy Lake First Nation to advance discussions for the establishment of a constructive relationship for the future while preserving heritage, culture and traditions of the Sandy Lake First Nations Community. It was notably announced that a mining representative appointed to work with the Community was to be hired shortly. It was moreover announced to the Company that the Sandy Lake First Nation had almost completed a protocol to establish harmonious relationships with mining companies wanting to assist with the development of the area, such as Golden Share.
Golden Share can acquire a 100% interest in the Property from FLG over two years by meeting the following conditions :
Following exercise of the option and acquisition of the interest, Golden Share shall issue additional Common Shares to FLG as follows:
Golden Share will be the operator and as such will have the responsibility to execute the work programs on the Property. Golden Share will shortly provide a detailed technical update on the consolidated Berens River Mine land package.
About Golden Share Mining Corporation
Golden Share Mining Corporation is a Canadian-based mining exploration company developing a promising portfolio of properties in the greenstone belts of eastern Canada, namely in the Val d'Or-Malartic, Red Lake and Shebandowan areas.
Lake Shore Gold Corp., a Canadian emerging gold producer, holds a strategic 27.2%(i) interest in Golden Share which is led by a technically focused management team strengthened by an experienced board of directors and a proven advisory board including successful geologists Roy Corrans and Sethu Raman as well as seasoned financier Anthony Frizelle.
Golden Share's development strategy involves advancing a well balanced portfolio of gold properties in a politically stable environment with a history of gold endowment through systematic exploration, resource definition and acquisitions. Highlights of the current portfolio include:
(i) Lake Shore Gold Corp. acquired direct ownership of a total of 21.69 million common shares of Golden Share representing 19.9 per cent of the outstanding shares, as well as warrants to acquire an additional 10,845,000 common shares of Golden Share (representing 9 per cent of the outstanding shares on a partially diluted basis) at an exercise price of 20 cents per common share
(ii) 2,857,200 MT (at) 1.64 g/t Au at 1.00 g/t Au cut off
(iii) These estimates were executed prior to the introduction of National Instrument 43-101; hence they should be treated as historical data and therefore not be relied upon.
(iv) 536,500 MT (at) 2.03 g/t Au at 1.00 g/t Au cut off
Golden Share's exploration programs are executed under the supervision of Mrs. Laurence Huss, M.Sc., P. Geo., a "Qualified Person" as defined in National Instrument 43-101, and Vice-president Exploration of Golden Share. Philippe Giaro, P.Geo., President and CEO of Golden Share and Qualified Person for Golden Share, has reviewed and approved the content of this release.
FOR MORE INFORMATION, CONSULT :
OR OUR FACEBOOK PAGE AT:
To view the maps associated with this press release, please visit the following links:
Berens River Land Position:
Berens River Geology:
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:
Golden Share Mining Corporation
Philippe Giaro, President & CEO
1-514-866-4224
32-473-52-30-29
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 20.12.2011 - 14:30 Uhr
Sprache: Deutsch
News-ID 98741
Anzahl Zeichen: 0
contact information:
Town:
MONTREAL, QUEBEC
Kategorie:
Mining & Metals
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"Golden Share Consolidates Land Package at Berens River North of Red Lake, Ontario, Canada"
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