Auriga Gold Completes Acquisition of 46% Interest of the Nokomis Property, Maverick Gold, Manitoba
22 Novembre 2011 - 4:00PM
Marketwired
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 416-214-2785Info@aurigagold.ca Auriga Gold Corp. Alison
Tullis Manager, Investor Relations
416-214-2785atullis@aurigagold.cawww.aurigagold.ca
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