AuRico Gold and Carlisle Goldfields form a Strategic Partnership in the Lynn Lake Gold District

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[{"type":"text","content":"\n\n\nTORONTO, Nov. 11, 2014 /CNW/ - AuRico Gold Inc. (TSX: AUQ) (NYSE: AUQ), (\"AuRico\" or the \"Company\") today announced that it has entered into an\n agreement to subscribe for 70,600,000 common shares of Carlisle\n Goldfields Limited (\"Carlisle\"), at a price of C$0.08/share, for total\n consideration of approximately C$5.6 million (the \"Private Placement\"),\n subject to certain conditions including approval of the Toronto Stock\n Exchange. On closing of the Private Placement, AuRico will hold own\n 70,600,000 common shares of Carlisle, representing approximately 19.9%\n of the issued and outstanding common shares of Carlisle on a\n non-diluted basis.\n\n\nIn conjunction with the Private Placement, AuRico has entered into a\n joint venture agreement with respect to Carlisle's Lynn Lake Gold Camp\n (\"Lynn Lake\" or the \"Project\"), located in Lynn Lake, Manitoba,\n pursuant to which AuRico will acquire a 25% interest in the Project for\n an initial cash contribution of C$5 million, with the option to earn up\n to an additional 35% interest by funding C$20 million on the Project\n over a three-year period and delivering a feasibility study within that\n time period. Lynn Lake is a highly prospective past-producing gold camp\n consisting of five near surface deposits with significant existing\n infrastructure in place.\n\n\n\"This transaction with Carlisle represents a compelling, but low risk\n opportunity to participate in the early stage advancement of a highly\n prospective mining district in Canada and is consistent with our\n strategic focus on high-quality assets in North America,\" stated Scott\n Perry, President and CEO.\n\n\nReaders should refer to the section entitled \"Early Warning Disclosure\"\n provided in Appendix A at the end of this press release.\n\n\nAbout AuRico Gold\nAuRico Gold is a leading Canadian gold producer with mines and projects\n in North America that have significant production growth and\n exploration potential.  The Company is focused on its core operations\n including the Young-Davidson gold mine in northern Ontario, and the El\n Chanate mine in Sonora State, Mexico. AuRico's project pipeline also\n includes advanced development opportunities in Mexico and Canada.\n AuRico's head office is located in Toronto, Ontario, Canada.\n\n\nCautionary Statement\n\n\nThis press release cont...

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