Estrella to Enter Agreement With Buenaventura Regarding Pucarana
10 Marzo 2014 - 6:50PM
Marketwired
Estrella to Enter Agreement With Buenaventura Regarding Pucarana
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 10, 2014) -
Estrella Gold Corporation (TSX-VENTURE:EST) ("Estrella" or the
"Company"), announced that its subsidiary, Gallant Minerals Peru
Ltd. S.A., has signed a Memorandum of Understanding with Compañía
de Minas Buenaventura S.A.A. ("Buenaventura") regarding the
Pucarana property in Peru.
Under the arrangements, Buenaventura will be in charge of
planning, implementing and developing for the exploitation of the
Pucarana property and Buenaventura will grant a 3% NSR royalty to
the joint venture that will be then distributed as to 60% to Alamos
Gold Inc., 36% to Estrella and 4% to Gallant Minerals Ltd. The
parties expect the final agreement to be fully executed by mid May
2014.
Estrella will have no further obligations with regard to the
project and will simply hold the net 1.08% NSR. In the case that
gold production comes from the property in the future, Estrella
will receive 1.08% of the revenues from any gold production from
the Pucarana mineral claims, net of smelter costs.
Mr. John R. Wilson, President and CEO of Estrella commented, "We
are excited to have Buenaventura advancing the Pucarana property on
behalf of the joint venture."
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 three properties optioned out or held in joint venture
agreements. The Company has 31.6 million shares issued and
outstanding, and is listed on the TSX Venture Exchange
(TSX-VENTURE:EST). Mr. John Wilson, BSc, MS, is a Qualified Person
for the purposes of National Instrument 43-101 Standards of
Disclosure for Mineral Projects of the Canadian Securities
Administrators, and has reviewed and verified the technical
information contained in this news release.
www.estrellagold.com.
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. 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.
Estrella Gold CorporationJohn R. WilsonPresident and CEO(604)
687-3520Estrella Gold CorporationSandrine LamShareholder
Communications(604) 687-3520(888) 889-4874www.estrellagold.com
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