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INTERVIEW: Uragold Discusses Merits of Recent Acquisition from Fancamp

Posted by AGORACOM-JC at 8:44 AM on Friday, October 24th, 2014

UBR: TSX-V

Welcome to Beyond The Press Release a production of AGORACOM in which we take the time to talk to small cap ceo’s and executives about their recent press releases. Bernard Tourillon, Chairman, CEO and Director of Uragold discusses the Conditional Approval from the TSX Venture Regarding the Acquisition of 32 Claims from Fancamp.

Hub On AGORACOM / Corporate Profile / Watch Interview Now!

VOLUME ALERT – Stria Lithium (SRA: TSX-V) 101K Shares Traded, 9X Average Daily Vol.

Posted by AGORACOM-JC at 11:35 AM on Thursday, October 23rd, 2014

VOLUME ALERT!!!

SRA: TSX:V

Last: $0.15 Up $0.01

Percentage: 7.14% Vol. 101.5K Shares Traded (9X Average)

Stria Lithium Discusses Revolutionary Lithium Extraction Method

The company is aiming to become one of the lowest cost producers in the world for battery-grade technology lithium through partnerships, licensing and joint ventures  which are critical for high-technology green energy industries such as consumer electronics, energy storage and military.

Hub On AGORACOM / Corporate Website / Watch Interview Now!

Liberty Star Updates Financing & News on the Hay Mountain Project for Porphyry Copper, Gold, Moly and Other Metals

Posted by AGORACOM-JC at 12:50 PM on Wednesday, October 22nd, 2014

TUCSON, Ariz.–Liberty Star Uranium & Metals Corp. (“Liberty Star” or the “Company”) (OTCQB: LBSR) is providing an update on its plans to finance the Phase 1 exploration drilling program on its premier property, the Hay Mountain Project, for porphyry copper, gold, moly and other metals in Cochise County, southeast Arizona. The Phase 1 financing requires an expenditure of USD $6.5 million to drill up to 50 vertical “mother” holes (to a depth of up to 5,000 feet) and up to eight “daughter” holes per mother hole, depending on what is encountered (News Release 189). Another 31 holes on our Federal lode mining claims adjacent to the Arizona State Mineral Exploration Permits (MEPs) have subsequently been located, bringing the total number of planned, pre-positioned, permitted holes on the grid to 81. The Company is pursuing permitting on the entire grid simultaneously, allowing movement to almost any location within the geochemical, geophysical and geologic anomalies, depending on results of surrounding holes, as soon as that may be indicated by results of the previously drilled holes. The Company may not drill all 81 holes during Phase 1, but permitting the entire grid at once is more efficient in terms of time and costs given the lengthy permitting timeline under state and federal regulation. This would allow immediate continuation of Phase 2 drilling, with no time lag.

Phase 2 drilling could continue for up to an additional three or more years with multiple drills. Discovery of thin exposures of silicified and carbonate veined rock suggests that mineralization could be located at less depth than was previously suggested by old geologic maps. This, combined with the geochemistry and ZTEM geophysics, suggests a shallower top of the mineral zone and mineralization going to significant depth. In Phase 2 and beyond, planning could be for an open pit and a continuous deep underground skarn (altered limestone) mineral body.

The financing proposal is offered to foreign and domestic entities that have or might express an interest in the project as a joint venture (JV) arrangement:

1. The JV would be between partner and The Hay Mountain Project owned by Liberty Star, and would be managed by Liberty Star.

2. Partner would provide capital of $6.5 million for the Phase 1 drilling program and have an option to contribute $65 million for the second phase of drilling. Investors would also have the right of first refusal to contribute addition funds for the final permitting, design, construction and development of a mine(s) at Hay Mountain.

3. Liberty Star is not contemplating an arrangement exchanging stock to capitalize Phase 1 exploration drilling or subsequently Phase 2, and later phases for permitting, design and construction, which would be dilutive, but instead a Joint Venture, as is common in the industry.

The Company has received and anticipates receiving additional Non-Disclosure Agreements (NDAs) from potential funders introduced by naseba/Naru Capital and other entities, foreign and domestic. These NDAs allow Liberty Star to disclose confidential scientific data to potential funders as part of the potential funders’ due diligence programs.

States Liberty Star’s CEO/Chief Geologist James A. Briscoe: “The value of the Hay Mountain Project may be greatly enhanced with the discovery of factors that may indicate mineralization near the surface, in addition to a continuation of a skarn mineral body to great depth, which would be mined by underground methods. We have completed surface studies, and have scheduled due diligence visits to the site. We have received word from the Arizona State Land Department (ASLD) that our Plan of Operation with archaeology survey should be completed in one to three months, entirely dependent on their schedule. In effect, we are ready to get the diamond core drilling started. While I wish the process of financing Phase 1 drilling at Hay Mountain would quicken its pace, I am confident that the scientific data and the attractive JV proposal we have put forth will net us a suitable partner in due course.”

“James A. Briscoe” James A. Briscoe, Professional Geologist, AZ CA
CEO/Chief Geologist
Liberty Star Uranium & Metals Corp.

View Liberty Star’s “Introduction to Hay Mountain Presentation

Forward-Looking Statements

Statements in this news release that are not historical are forward-looking statements. Forward-looking statements in this news release include all our planned drilling program and our planned route to access partners or funding sources. Factors which may delay or prevent these forward-looking statements from being realized include: the failure of our proposals to be accepted; we may not attract any partners or funding sources; we may not be able to raise sufficient funds to complete our intended exploration, keep our properties or carry on operations; and we may encounter an inability to continue exploration due to weather, logistical problems, labor or equipment problems or hazards even if funds are available. Even if we find a partner, we may not be able to reach agreement or carry out the development program as contemplated. Despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures in the Company’s recent 10-K and the Company’s other periodic reports filed from time to time with the Securities and Exchange Commission.

Contacts

Agoracom Investor Relations
lbsr@agoracom.com
http://agoracom.com/ir/libertystar
or
Liberty Star Uranium & Metals Corp.
Tracy Myers, 520-425-1433
Investor Relations
info@LibertyStarUranium.com
Follow Liberty Star Uranium & Metals Corp. on Facebook , LinkedIn & Twitter@LibertyStarLBSR

Uragold Receives Conditional Approval from the TSX Venture Regarding the Acquisition of 32 Claims from Fancamp

Posted by AGORACOM-JC at 9:52 AM on Wednesday, October 22nd, 2014

Uragold Receives Conditional Approval from the TSX Venture Regarding the Acquisition of 32 Claims from Fancamp

Montreal, Quebec / October 22 2014 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it has received conditional approval from the TSX-Venture to go forward with the acquisition of 32 claims encircling Uragold’s Beauce Placer Gold Project located in the municipality of Saint-Simon-les-Mines in the Beauce region of southern Quebec held by Fancamp Exploration Ltd. (“Fancamp”) (TSX Venture: FNC).

Subject to Uragold submitting and/or filling the following documentation, the Uragold and Fancamp transaction will be allowed to close:

  1. 1.The Corporation must submit a National Instrument (“NI”) compliant technical report, that must include the work program proposed by the Qualified Person to be done during first 12 months on the 32 new claims to be acquired;
  2. 2.The Corporation must submit a financial plan or any other appropriate documentation that will demonstrate it has the financial capacity to meet any financial obligations emanating from this agreement during the first six months of the closing of the transaction and fund the phase one work suggested by the QP on the 32 new claims to acquired.
  3. 3.The Corporation must submit copies of all the pertinent executed agreements between the parties;
  4. 4.Since Fancamp will become an insider of the Corporation at the closing, the Corporation must submit the required Personal Information Form to the exchange; and
  5. 5.The Corporation will have to issue a follow-up press release once the transaction actually closes.

The Corporation does not envisage any problems completing these requirements in a timely basis, especially since, technically speaking, the Fancamp transaction only represents the acquisitions of the seventy four percent (74%) extension of the Beauce Paleoplacer not presently held by Uragold.

Therefore, instead of preparing a new technical report for the 32 claims acquired, the Corporation will simply take advantage of the situation, to up-date its previous Technical Report and include in the report all the information available over the full 6.5 km long paleoplacer gold channel. Furthermore, since the completion of the previous report, the Uragold technical team has done a lot of geological modelling work, using all the historical information available; this information will also be included in the report.

Regarding the financial requirements, since the Corporation intends to concentrate its work during the next twelve (12) to twenty four (24) months on its original 5 claims blocks, the actual financial obligations emanating from the new acquisition will be minimum.

Patrick Levasseur, President and COO of Uragold stated that: “The up-dated technical report will allow us to clearly explain why we believe that the acquisition of the 32 Fancamp claims is truly changing the whole dynamics of the Beauce Paleoplacer Gold project.”

Mr. Vivian Stuart-Williams, SACNASPS, working under Special Authorization #290 of the Quebec Order of Geologist, is an Independent Qualified Person as defined by National Instrument 43-101 that supervised the preparation of the information in this news release.

About Uragold Bay Resources Inc.

Uragold Bay Resources is a TSX-V listed Gold and High Purity Quartz exploration junior focused on generating free cash flow from mining operations. Our business model is centered on developing mining projects suited for smaller-scale start-up, (Capex < C$10M), that will generate high yield returns (IRR > 50%). Uragold will reach these goals by developing Quebec’s first placer mine in 50 years, the Beauce Placer Project developing and, in partnership with Golden Hope Mines, the Bellechasse-Timmins Gold Deposit.

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.

For further information contact

Bernard J. Tourillon, Chairman and CEO
Patrick Levasseur, President and COO

Tel: (514) 846-3271

www.uragold.com

Engineer-Attorney Brett Gross Named to Liberty Star Board of Directors

Posted by AGORACOM-JC at 12:11 PM on Monday, October 20th, 2014

TUCSON, Ariz.–Liberty Star Uranium & Metals Corp. (“Liberty Star” or the “Company”) (OTCQB: LBSR) is pleased to announce mining engineer, entrepreneur, consultant and attorney Mr. Brett Gross of Denver, Colo. has joined the Liberty Star Board of Directors. Mr. Gross is a longtime LBSR shareholder dating from the first year of its founding and helped fund the Hay Mountain ZTEM survey last year.

About Mr. Gross:

Mr. Gross is a mining engineer (BS, Ohio State University, 1982; MS, Virginia Polytechnic Institute, 1988; PE, Colorado and Alabama) and attorney (JD, University of Denver, 2001) with over 30 years of experience, both domestic and international. His work experience includes surface and underground mining operations, engineering, and delivery of construction mega-projects across multiple industrial and commercial markets, and the practice of law related to each of these sectors. Brett brings a combination of professional skills that benefits every aspect of Liberty Star’s business. Brett’s engineering career began at Virginia Tech, with research focused on rock mechanics and the stability of underground openings, particularly the phenomenon of “coal bumps” and “rock bursts,” and studying methods to monitor stress changes in the longwall barrier pillar during the onset of the active longwall face. The ensuing years of his career have been intimately involved with a broad spectrum of engineering, operations, management and project delivery. Since 2002, Brett has practiced law both in private practice and as in-house counsel, negotiating and closing complex deals with what today is among the largest and most successful engineering and construction firms in the United States.

Jim Briscoe, Liberty Star CEO and Chief Geologist, comments, “Brett has a mining background, innovative ideas and solid connections with investors who may be interested in funding Phase 1 drilling. He has held LBSR stock for many years, and shares the goal of increasing our stock’s value through concrete activities toward the development of Hay Mountain and other projects. He will bring another spectrum to the Board as a mining engineer experienced in both open pit and underground mines, entrepreneur mentality, business experience, and legal background applied to heavy construction and mining agreements and negotiations. A recent full day, intensive trip to the Company facilities and the Hay Mountain target and adjacent similar exposed mines a few weeks ago, reinforced his enthusiasm and faith in Liberty Star and careful approach to exploration and understanding of mines and mining. We believe Brett will be a giant addition to our Board of Directors and we look forward to having him on the team.”

“James A. Briscoe” James A. Briscoe, Professional Geologist, AZ CA
CEO/Chief Geologist
Liberty Star Uranium & Metals Corp.

View: “Introduction to Hay Mountain Project Presentation” (PDF)

Contacts

Agoracom Investor Relations
lbsr@agoracom.com
http://agoracom.com/ir/libertystar
or
Liberty Star Uranium & Metals Corp.
Tracy Myers, 520-425-1433
Investor Relations
info@LibertyStarUranium.com
Follow Liberty Star Uranium & Metals Corp. on Facebook , LinkedIn & Twitter@LibertyStarLBSR

Stria Validates Its Pontax Lithium Mineralization as Feedstock for a Novel, Low-Cost, Environmentally Sustainable Chlorination-based Pilot Plant Process

Posted by AGORACOM-JC at 10:03 AM on Monday, October 20th, 2014

OTTAWA, ONTARIO–(Oct. 20, 2014) - Stria Lithium Inc. (TSX VENTURE:SRA) (“Stria” or the “Company”) is pleased to report the completion of a dense media separation study (“DMS”) demonstrating the mineralogical quality of spodumene mineralization from its wholly-owned Pontax Lithium Project in the James Bay Region of Northern Quebec.

The mineralization will be used to feed Stria’s pilot plant using novel technologies for purification purposes. Pilot plant operations are scheduled for early 2015.

In April 2014, Stria conducted a surface sampling program at its Pontax property to collect 100kg of spodumene mineralization. The aim of the program was to demonstrate the mineralization was amenable to conventional processing techniques and; to validate that spodumene concentrate could be used with conventional DMS or gravity separation techniques to feed the proposed pilot plant.

Mineralogical and metallurgical testing was undertaken by SGS Canada at their Lakefield, Ontario facilities. It included sample preparation, head sample analysis, mineralogical analysis, heavy liquid separation (“HLS”) tests and the grindability characterization. Upon completion of the gravity separation tests, dense media separation and magnetic separation were conducted to improve the grade and recovery of the spodumene.

SGS reported that conventional HLS processes indicated the Pontax mineralization can generate an initial spodumene concentrate recovery of 53.9% Li grading at 6.03% Li2O. With fine portions added, the total spodumene concentrate is capable of achieving 94.9% Li purity.

Work continues at SGS using a small parallel flotation circuit to upgrade the middlings and to improve overall recoveries and lithium purity. HLS testing also demonstrated it was possible to reject 61% of the original mass as mainly silicate gangue with a resulting Li loss of only 5.1% of that mass.

“We are very pleased with these metallurgical test results,” said Stria President and Chief Operating Officer Julien Davy. “They confirm our Pontax spodumene mineralization is a viable feedstock for a planned 2015 pilot plant.

“Our next milestone will be to demonstrate our proprietary technologies – as we designed them – are capable of producing high grade Li-metal, Li-carbonate or Li-hydroxide products with significant economies realized within a low chemical consumption environment,” said Mr. Davy.

“The greatest cost in producing lithium compounds and products are attached to processing and purification. Stria’s business model holds a ‘technology-first’ bias aimed at building a disruptive, competitive advantage into both our spodumene and brine operations,” Mr. Davy added.

About Stria Lithium Inc.

Stria Lithium (TSX VENTURE:SRA) owns the Pontax spodumene lithium property in Northern Quebec and the Willcox brine lithium property in southeastern Arizona. As announced in January 2014, Stria is developing proprietary, in-house processing technologies for both projects with the purpose of reducing processing costs on an environmentally sustainable basis.

Stria’s technologies, based on recovering lithium metal directly from mineralization and from brine liquids, will be more efficient, will require fewer controls, less chemistry and require less energy from compact facilities designed to enable easy automation.

Qualified Person: This news release has been reviewed and approved by Mr. Julien Davy, P.Geo., M.Sc., MBA, President and COO of Stria and a Qualified Person under NI 43-101 Guidelines.

Forward Looking Statement – Disclaimer

This news release may contain forward-looking statements, being statements which are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company’s expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com.

Stria Lithium Inc.
Mr. Julien Davy
President and COO
jdavy@strialithium.com

Uragold Bay Resources Conducts Silicon Metals Education Series – Vol. 1

Posted by AGORACOM-JC at 10:29 PM on Tuesday, October 14th, 2014

UBR: TSX-V

Welcome to our silicon metals series, a production of AGORACOM in which we aim to educate our viewers about the newly minted market for silicon metals. With us today is Patrick Levasseur, President, COO and Director of UraGold Bay Resources.

High Purity Silica (HPS) and Silicon Metal are key strategic minerals with applications in high-tech industries that include semiconductors, LCD displays, fused quartz tubing, microelectronics, solar silicon applications and recently, Silicon Anode Lithium Batteries.

Uragold Bay Resources is a Gold and High Purity Quartz exploration junior focused on generating free cash flow from mining operations. The company’s business model is centered on developing mining projects suited for smaller-scale start-up, Capex < C$10M, that will generate high yield returns IRR > 50%.

Hub On AGORACOM / Watch Interview Now!

Rob McLeod, President and CEO of IDM Mining (IDM.T) Goes “Beyond the Press Release”

Posted by AGORACOM-JC at 6:19 PM on Tuesday, October 14th, 2014

In the latest episode of our “Beyond the Press Release” show, George and Allan spoke with Rob McLeod, President and CEO of IDM Mining (IDM.T). Watch the show to hear them discuss Rob’s family history in mining, and learn more about the Red Mountain gold project near Stewart, BC.

Red Mountain is located in a world renowned area for high grade gold mines, IDM Mining has been very active lately raising money for aggressive work on the project, and are going to have drill results out shortly. We are always promoting doing your homework on high quality companies, and this show gives you a great leg up on doing that homework on a dynamic gold company.

Uragold And Fancamp Sign Final Agreement Regarding The Acquisition Of 32 Claims Covering The Section Of The 6.5 Km Long Historical Beauce Paleoplacer Gold Channel Not Owned By Uragold

Posted by AGORACOM-JC at 10:58 AM on Wednesday, October 8th, 2014

Montreal, Quebec / October 8 2014 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it has signed a definitive written Agreement with Fancamp Exploration Ltd. (“Fancamp”) (TSX Venture: FNC) regarding the acquisition of 32 claims encircling Uragold’s Beauce Placer Gold Project located in the municipality of Saint-Simon-les-Mines in the Beauce region of southern Quebec.

Uragold’s original Beauce paleoplacer project, 5 claims situated between the Rang Chaussegros and the Rang Gustave, covered only twenty-six percent (26%) of the length of the paleo-placer gold channel. When the transaction closes, Uragold’s claim block will cover the full 6.5 km long paleo-placer gold channel.


Click Image To View Full Size
Figure 1. This figure shows the paleo-placer identified by Beauce Place Company in 1959 (Orange); Uragold’s original Beauce Claims (Blue); mineralized zones where Uragold delineated an Inferred Resource in March 2014 (Thick Orange); and the Fancamp Claims subject to the Letter of intent (Red).

The Beauce Placer Project Overview:

The property is located southeast of Beauceville and 3 km northeast of Saint-Simon-les-Mines, in the Gilbert River Valley (in the Appalachians of southern Quebec) where the discovery of an egg-sized gold nugget in the river sands was made in 1846. News of this find attracted hundreds of prospectors who panned just about every stream, brook and river in the area. Two of the largest recorded gold nuggets found in Canada came from the Gilbert River, in areas now covered by Uragold. In 1866 J. Kilgour found a nugget weighing 52 oz. on the north branch of the Gilbert River; and in 1867 Mr. MacDonald found a nugget weighing 45 oz. in the same general area.

By 1880, the profitable properties were taken over by larger mining companies, and gold was mined intermittently in various tributaries of the Chaudiere River (into which the Gilbert River flows). Unfortunately, legal challenges between the old Seigneurial rights owners, landowners and the Mining Companies created such a hindrance to the development of gold projects in the region that almost all work stop by 1900. The result was that prospectors and the mining Companies moved their attention elsewhere in Quebec and in Canada.

In 1957, Mr. M. J. Boylen formed the Beauce Placer Mining Company. The Company drilled the area to estimate the volume and gold content of the buried placers. By 1959, they had defined a drilled historical resource of 168,952 Au oz (12,978,710 m3 @ 0.405 g/m3) (June, 1959 – GM08785) on a paleo-channel striking from the Rang St-Charles through to Rang Delery, Rang Chaussegros, Rang St-Gustave all the way to Rang 6. Parts of the paleo-channel were mined from 1959 to 1964 using dragline and dredging operations. Some of this mining was conducted, on the western part of the Original Uragold Property. Despite a significant production of 56,000 oz. gold, the operations ceased somewhere in 1963/4 because of technical problem.

On the section of the deposit previously mined by The Beauce Placer Mining Company, the unpublished gold production data for the dredging and drag line operation from 1959 to the early 1960s and their 1958-59 exploration reports mentioned that:

This infers that the actual gold grade recovered during dredging was roughly six times (x6) the suggested grade derived from the Beauce Placer Mining Company drilling programme.

This point was emphasised by Rose (1959) who in relation to the proposed dredging by the Beauce Placer Company at the time stated: -

“…Gold obtained in the drill samples has been coarse and in a number of holes small nuggets were found. In estimating volumes and values these nuggets have been included. When the gold is coarse it usually follows that actual dredging recoveries are higher than the drill estimates.”

In March 2014, the Uragold technical team concluded, after having reviewed all the technical data available derived from 30 boreholes (7 recently drilled sonic boreholes and 23 historical boreholes from work done in the 80′s) located only on Uragold original claim blocks, that there was enough recent and historical information to disclose an Inferred Polygonal Resource on the Claims block controlled by Uragold.

Following the signature of the letter of intent with Fancamp, the Uragold technical team reviewed all the technical data available derived from 90 boreholes now located on the new Uragold claim blocks (7 recently drilled sonic boreholes and 83 historical boreholes from work done in the 80′s). From this recent and historical information, a new historical Polygonal Resource was calculated, and a new resource potential was estimated for the Beauce Placer.

It must be emphasised that any grade/ tonnage calculation at the Beauce Project will be fraught with difficulty. Key amongst the problems with the Beauce (and many other gold projects) is ore grade variability. The grade can and will change from almost nothing to a value of several grams per cubic metre within a very short distance.

Due to the nugget effect and the clear disparity between drilled and mined gold grades at the Beauce, the Uragold technical team believes that gold volumes contained in the deposit will be larger than indicated by the historical drilling. However, until the completion of additional drilling that can validate the historical data, the only way to quantify and divulge the historical information, while taking into consideration the nugget effect, is to look at the historical Polygonal Resource as a guideline for a new potential exploration* target range.

Making the assumption that recovered gold could be up to six times (x6) the historical Polygonal Resource figure (as per the data derived from the historical mining figures) suggests that the gold potential for the entire deposit now controlled by Uragold could range between 61,000 ounces (2,200,000 m3 @ 0.87 g Au/m3) and 366,000 ounces** (2,200,000 m3 @ 5.22 g Au/m3) using the x6 multiplier.

*Potential quantity and grade are conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will results in the discovery of a mineral resource.

All information such as resources estimates and grades herewith presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.

While the presence of significance quantities of visible (placer) gold in the region is a fact, the source/s of these gold showings has not yet been identified. Studies by Uragold of the auriferous basal till and the underlying saprolite suggest a close proximity source of gold, and since the acquired claims cover an extensive area of the Gilbert river valley this increases the chances that the unknown Bellechasse / Timmins type deposit mentioned in our March 27, 2014 press release will be found on Uragold claims.

Subject to regulatory approval, the Uragold and Fancamp definitive agreement transaction contains the following salient points:

  1. 1.Uragold will acquire the 32 claim block contained in the Appalachian Properties that surrounded the Uragold Beauce Property (herein, collectively the “Claims”) (“The Acquisition”) through:
    1. a.As consideration for the transfer and the sale of the Claims and related assets to Uragold, Uragold will issue, at the closing an amount equal to 8,000,000 Uragold Units. Each Unit will be comprised of 1 common share and 1 common share purchase warrant (the Warrant”) of Uragold.
    2. b.Each full Warrant will entitle Fancamp to purchase one common share of the capital stock during a period of 60 months from the date of the issuance of the Units. Each Warrant shall entitle Fancamp to purchase one (1) additional common share of Uragold at a price of C$0.20 per share during the first 24 months from the date of issuance of the units, at a price of C$0.30 from the start of the 25th month until the end of the 48th month, and at a price of C$0.40 per share at the start of the 49th month until the end of the 60th month.
  1. 2.Contemporaneously with the signing of the definitive Agreement:
    1. a.Uragold will make cash payment of C$25,000 to Fancamp within six (6) months of the Signing of the definitive Agreement.
    2. b.Uragold will finance C$400,000 worth of exploration work on the Claims over the next 4 years, under the following schedule, Year 1: C$50,000, Year 2: C$75,000, year 3: C$100,000 and year 4: C$175,000.
    3. c.Uragold has granted Fancamp a three and one half percent (3.5 %) Gross Metal Royalty on any gold production extracted from the 32 Claim block acquired by Uragold.
  2. 3.Fancamp and Uragold have signed a Covenant regarding the sale of Uragold shares held by Fancamp.
    1. a.Included in the Covenant is a Standstill agreement whereby Fancamp agrees not to sell any of its Uragold shares (“Standstill”) during a twelve (12) month period (“Standstill Period”) starting on the day of the issuance of the Uragold Units to Fancamp.
    2. b.The Covenant also includes a Change of Control Clause whereby in the event that a Change of Control event occurs at either Parties, then either the Fancamp Standstill Period will be automatically increased by thirty-six (36) months or a new thirty-six (36) months Standstill Period will start, or in the case that the change of control occurs at Uragold, then the standstill agreement will lapse.
    3. c.So long as Fancamp owns at least ten percent (10%) of the issued and outstanding Uragold Shares, Fancamp can have one nominee elected as a director to the Uragold board of directors.
  3. 4.Fancamp intends to nominate Mr. Peter H Smith to the Uragold Board.

Peter H. Smith PhD, P.Eng. is a Director and founder of Fancamp Exploration Ltd. and is presently Chairman of the Board and interim President. He has been a Director of Fancamp Exploration Ltd. and its predecessor company, Fancamp Resources Ltd, since January 1986. He is presently a Director of Lamelee Iron Ore Ltd., since May of 2014 and served as a Director of Argex Titanium Inc. from October 2009 to May 2013. He has served as a Director of Litewave Corp. and St. Georges Platinum Base Metals Ltd. since January 2010, leaving the latter company in October 2010. He was a Director of Golden Hope Mines Ltd from May 1997 to August 2009. He is a member of the Ontario Order of Professional Engineers and is a former Director of the Prospectors and Developers Association of Canada.

  1. 5.Once Gold Mining operations have begun on the Claims purchased, Uragold will make a one-off cash payment of C$500,000 to Fancamp.
  2. 6.Pursuant to an agreement entered into between Fancamp and a private vendor as of December 12, 2005, the Vendor currently holds a one point five percent (1.5 %) net smelter return royalty affecting the Claims, of which one percent (1%) may be purchased at the sole discretion of Fancamp, or of Uragold as of the date hereof, for a payment of one million dollars ($1,000,000), (the “NSR Royalty”).

The transaction is also subject to the approval of the TSX Venture Exchange, approval that requires the filing of an updated NI43-101 compliant technical report on the Beauce Property.

Mr. Vivian Stuart-Williams, SACNASPS, working under Special Authorization #290 of the Quebec Order of Geologist, is an Independent Qualified Person as defined by National Instrument 43-101 that supervised the preparation of the information in this news release.

Patrick Levasseur, President and COO of Uragold stated that: “This signature of a final agreement is another significant step being undertaken by Uragold. This acquisition is changing the whole dynamics of the Beauce Paleo-placer Gold project, as it significantly increase the size and scope of our project.” Mr. Levasseur went on to add: “We are extremely pleased to have been able to conclude such a transaction with Fancamp Exploration Ltd., a Canadian junior mineral exploration company that is evolving into a holder of shares in partner companies and royalties on near-term producing mines. Lastly, the addition of Peter Smith to the board of Uragold, an experience project developer, is another very positive development for the Corporation.”

About Uragold Bay Resources Inc.

Uragold Bay Resources is a TSX-V listed Gold and High Purity Quartz exploration junior focused on generating free cash flow from mining operations. Our business model is centered on developing mining projects suited for smaller-scale start-up, (Capex < C$10M), that will generate high yield returns (IRR > 50%). Uragold will reach these goals by developing Quebec’s first placer mine in 50 years, the Beauce Placer Project developing and, in partnership with Golden Hope Mines, the Bellechasse-Timmins Gold Deposit.

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.

For further information contact

Bernard J. Tourillon, Chairman and CEO
Patrick Levasseur, President and COO

Tel: (514) 846-3271

www.uragold.com

KWG Extends Option Notice

Posted by AGORACOM-JC at 11:12 AM on Wednesday, October 1st, 2014

 

TORONTO, ONTARIO–(Oct. 1, 2014) - KWG Resources Inc. (TSX VENTURE:KWG) (FRANKFURT:KW6), (“KWG”) announces that by mutual agreement of the parties, KWG and Bold Ventures Inc. (“Bold”) have extended by 30 days, to October 30, 2014, the deadline by which KWG must provide Binding Notice 2. Pursuant to the Option Agreement between KWG and Bold, Section 3.1 provides that KWG must provide Binding Notice 2 by September 30, 2014 that it intends to make the $700,000 option payment due February 7, 2015 under the KWG/Bold Option Agreement and expend an aggregate of $8,000,000 on the property by March 31, 2015. If the Binding Notice 2 is not delivered, the Option is terminated.

About KWG: KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite where resources are being defined. KWG has also acquired patent interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG also owns 100% of Canada Chrome Corporation which has staked claims and conducted a $15 million surveying and soil testing program for the engineering and construction of a railroad to the Ring of Fire from Exton, Ontario.

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.

Shares issued and outstanding: 777,842,468

KWG Resources Inc.
Bruce Hodgman
Vice-President
416-642-3575
info@kwgresources.com