#Barrick Purchases #Coral #Gold Robertson Property in #Nevada

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Coral Gold has entered into a purchase and sale agreement with Barrick Cortez for the sale of the Robertson Property in Lander County, Nevada in the amount of US$15.75 million (Cdn $20.17 million). Barrick will return 4,150,000 shares of Coral held by them for cancellation by the company.

Coral will retain an NSR on the Robertson, payable quarterly, as well as a right of first refusal enabling Barrick to acquire the NSR in the event that the Company wishes to sell the NSR to any third party.

The sliding scale NSR rate will be determined based on the observed gold price each quarterly period based on the average LBMA Gold Price. In the event the Robertson Property is not placed into production by December 31, 2023, then beginning on January 1, 2024 and continuing on an annual basis thereafter until the earlier of (i) the commencement of commercial production and (ii) January 2, 2033, Barrick will make advance royalty payments of US$500,000, which will be non-refundable and fully credited against any future obligations of the NSR.

Annual General and Special Meeting

The Annual General and Special Meeting of the shareholders of Coral Gold is scheduled to be held at 11AM (PDT) on Friday, July 22, 2016 at The Metropolitan Hotel, Vancouver Room, 645 Howe Street, Vancouver, BC, V6C 2Y9.

Reasons and Benefits of the Transaction

  • Substantial immediate value creation for Coral shareholders. Based on Coral’s basic shares outstanding as of June 20, 2016 adjusted for the Share Reduction, the Immediate Cash Consideration alone, excluding the value of the NSR, on a per share basis is equal to approximately Cdn $0.46, as compared to the closing price of Coral’s common shares on June 20, 2016 on the TSX Venture Exchange of Cdn $0.195.
  • The potential for long term value for Coral shareholders through the NSR. With this continued commercial relationship with Barrick through the NSR, Coral shareholders will have the opportunity to participate and benefit from expected future gold production at Robertson, additional resource growth potential at the Robertson Property, and will also have economic returns that will substantially improve if gold prices increase over the Robertson Property’s mine life.
  • Strong financial position at closing. Upon closing of this Transaction, Coral will have a very strong balance sheet as compared to its very limited financial resources currently, which exposed its shareholders to significant dilution if the Robertson Property was to be advanced in any meaningful way.

Falcon Gold $FG TSX.V Closes First Tranche of Private Placement

Falcon has closed a first tranche of the previously announced $600,000 private placement for gross proceeds of $191,225 and issued 2,549,666 Units logo-falcon-319x150-2priced at $0.075 per Unit. Each Unit is one common share and 1/2 warrant, priced at $0.10 per share for the first 12 months or at a price of $0.20 per share for the 12 months thereafter.

Proceeds from this financing will be used for exploration and development work on the New York Canyon project and for general corporate purposes.

 

Falcon’s CEO Stephen Wilkinson Speaks with ABN Newswire at PDAC 2015 in Toronto

2014-10-14 16.40.46Stephen Wilkinson, CEO of Falcon Gold CVE:FG, was interviewed by ABN Newswire at the PDAC 2015 in Toronto.

Click here to watch the video:  Stephen Wilkinson Interview with ABN Newswire

Falcon Gold Corp. Logo

Nancy

Grizzly Discoveries’ COO Ian Lambert Speaks with ABN Newswire at PDAC 2015 in Toronto

Grizzly Discoveries Inc. (TSX-V: GZD; OTCQX: GZDIF; Frankfurt: G6H) is pleased to provide a link to an interview with COO Ian Lambert conducted by ABN Newswire at PDAC 2015 in Toronto.

Click here to view the video:  COO Ian Lambert Speaks with ABN Newswire

Grizzly continues to pursue joint ventures, property options, and financing opportunities, to be positioned to take advantage of the inevitable recovery of the natural resources sector.

Nancy

 

Falcon FG Announces $600,000 Private Placement and Update on NY Canyon Property, Mineral County, Nevada

Falcon Gold (CVE:FG) announced a non-brokered private placement of up to 8M units priced at $0.075 per Unit for total gross proceeds of $600,000. Each unit will consist of one common share and one-half warrant priced at $0.10 per share for the first 12 months and $.020 per share for the 12 months thereafter.

Proceeds will be used to advance its exploration and development work on the New York Canyon project, continued exploration activities on its Washington silver project, and general corporate purposes.

To view an updated Corporate Presentation that includes preliminary 3-D modeling and illustrated drillhole data, visit our website at: www.falcongold.ca

Nancy Massicottelogo-falcon-319x150-2

 

PDAC 2015 in Toronto Canada

Although the attendance was down from last year’s PDAC, the quality of companies exhibiting and the attendees were of significance. Grizzly Discoveries (TSX.V-GZD) has three assets and all three were of interest to investors. Representatives from numerous mid-tier to major mining companies were inquiring about the gold/copper/silver BC properties given the politically stable jurisdiction and historical mining and mining friendly area.

I find that even though we are in a down-turned market, it is always of benefit to exhibit and/or be present at the PDAC. You just never know what will come from who you meet there.

Nancy at Grizzly Booth

Nancy

Metanor MTO.V Produced 3,425 Ounces of Gold During the Month of January

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Metanor Resources (TSX.V-MTO) produced 3,425 ounces of gold during the month of January, 2015.

A total of 21,413 tonnes of ore, at a feed grade of 5.18 g/t were processed during the month with a 96.1% recovery rate.

Falcon Gold FG.V Updates 2014 Activities and Outlines Work Programs for Nevada and Washington Properties

Falcon finalized the New York Canyon Nevada copper project agreement and completed all required payments pursuant to the transaction in August and closed the final tranche of an over-subscribed $706,000 financing.

To date, 188 drill holes totaling approximately 128,000 feet have been completed on the New York Canyon copper property. Much of the historical drill core and cuttings are well preserved and stored on the property.

In 1977, Conoco reported an estimated (non-compliant) resource of 142 million tons of 0.35% Cu and 0.015% Mo, based on 107 drill holes totaling approximately 98,433 feet. Results from a Conoco drill hole, (MN-42) completed in 1977 on the Copper Queen zone, returned assays over a length of 1,040 feet (317 m) that averaged 0.41% Cu, 0.012% Mo and 4 ppm Ag. This “sulphide” zone represents a significant porphyry-style target.

www.falcongold.ca

Nancy

Coral Announces Barrick Has Completed 2nd Hole of Drilling at Gold Ridge Property, Nevada

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Barrick has now completed the second hole of the 2014 diamond core hole drill program on the Gold Ridge property located in Crescent Valley, Nevada. With the second hole now complete, the drill rig has been moved and has started on the third hole.

Barrick is targeting Carlin-type mineralization in the lower plate which hosts large mines on the Carlin Gold Belt as well as the nearby Pipeline, Cortez Hills, Gold Acres and Gold Rush projects on the Cortez trend.

The Gold Ridge claims are separate and adjacent to Coral’s core claims at Robertson which host an inferred gold resource of 2.7 million ounces, a portion of which was the subject of a PEA in 2012. To view a map of Coral’s claims and the Cortez trend, click here: Coral Gold Claims Map

www.coralgold.com

Nancy

Coral Gold “TSXV.CLH” Announces that Barrick has Completed the First Drill Hole on Gold Ridge, Nevada

Barrick has completed the first hole of the 2014 diamond core hole drill program on Coral Gold Resources Ltd.’s Gold Ridge property located in Crescent Valley, Nevada. With the first hole now complete, the drill rig has been moved and has started on the second hole.

The Gold Ridge claims are separate and adjacent to Coral’s core claims at Robertson which host an inferred gold resource of 2.7 million ounces, a portion of which was the subject of a preliminary economic assessment in 2012. The core claims are host to a near surface resource that shows typical characteristics of porphyry/hornfels mineralized system which has historically been an indication of a deeper feeder system hosted in the lower plate below.

Nancy