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King's Bay Gold Corporation receives the Third Anniversary Earn-In Option Agreement payment for the Headway Project in Red Lake, Ontario
(via Thenewswire.ca) Winnipeg, Manitoba - October 2nd, 2012 King's Bay Gold Corporation...
About this update from Lion Rock Resources Inc
[{"type":"text","content":"\nKing's Bay Gold Corporation receives the Third Anniversary Earn-In Option Agreement payment for the Headway Project in Red Lake, Ontario\n\n(via Thenewswire.ca)\n\n \nWinnipeg, Manitoba - October 2nd, 2012\n\n\n \nKing's Bay Gold Corporation (TSX.V: KBG) is pleased to report that it has received the third anniversary earn-in option agreement payment from Mega Precious Metals Inc. (TSX.V: MGP) (\"Mega\"). The third anniversary payment consisted of $40,000 in cash and 67,500 common shares of Mega. King's Bay Gold Corporation now holds an aggregate total of 382,500 common shares of Mega from the initial, 1st anniversary, 2nd anniversary and 3rd anniversary earn-in distributions. The final payment to King's Bay Gold of 3,600,000 common shares of Mega is due on or before Nov. 30th, 2012.\n\n\n \n \n\n\n \nKyle Picard, President and CEO of King's Bay Gold Corporation recently stated: \"These final earn-in option payments from Mega for the Headway Project will put King's Bay Gold in a great position going forward. We have great projects, growing assets and a talented management team. We've made the right decisions to get us here and look forward to aggressively building shareholder value in the near future.\"\n\n\n \n \n\n\n \nThe Headway Group of Patented Claims Property is comprised of 7 claims units for approximately 320 acres and is located in Dome and Balmer Townships near the Town of Red Lake, Ontario. The property lies approximately 8 kilometres from the Town of Red Lake, and approximately 1.5 kilometres south of the Town of Balmertown, Ontario where Goldcorp's Red Lake Mines are located. The claim units are transected by the highway that runs between Red Lake and Balmertown. \n\n\n \n \n\n\n \nMega Precious Metals Inc. has an option to acquire a 100% interest in the Headway Project in Red Lake, Ontario subject to one final share issuance obligation that began in October 2009. Mega is the Operator for this project and updates are available on the home page of their website at www.megapmi.com . Detailed geological information on the Headway project, along with maps, diagrams and pictures can be found at: http://www.megapmi.com/headway_property .\n\n\n \n \n\n\n \nWebsite Feature - Join Our President's List\n\n\n \n \n\n\n \nA \"Join Our President's List\" feature is available on the Company's website at http://www.kingsbaygold....