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LKA Gold and Kinross Gold U.S.A Sign Exploration & Option Agreement
LKA Gold and Kinross Gold U.S.A Sign Exploration & Option Agreement.
About this update from Lka Gold Inc
[{"type":"text","content":"\n\n\n\nLKA Gold and Kinross Gold U.S.A Sign Exploration & Option Agreement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nLKA Gold and Kinross Gold U.S.A Sign Exploration & Option Agreement\nLKA grants Kinross exclusive rights to explore and develop Golden Wonder Mine area claims.\nPR Newswire\nLAKE CITY, Colo., July 13, 2015\n\n\n\nLAKE CITY, Colo., July 13, 2015 /PRNewswire/ -- LKA Gold Incorporated (OTCQB: LKAI) announces that it recently executed an \"Exploration Agreement & Option\" (the \"Agreement\") with Kinross Gold U.S.A., Inc. for the purpose of expanding its Golden Wonder Mine exploration beyond LKA's active workings. \n\nThe Agreement, amongst its other provisions, grants Kinross a five-year exclusive right to explore, and if successful, develop any mineral resource(s) containing 50,000 or more ounces of gold on LKA's properties above and adjacent to the Golden Wonder Mine located near Lake City, Colorado. If such a resource, or multiple resources, is discovered, LKA will have the option to enter into a joint venture with Kinross for the purpose of developing such resource(s) by reimbursing 40.25% of Kinross' exploration expenses in return for a 35% interest in the joint venture. If a joint venture is formed, LKA's contribution will also include all of LKA's Golden Wonder properties.\n\nDuring the five-year exploration period, Kinross will, but is not obligated to, conduct exploration, at its own expense, while LKA will retain the exclusive right to continue exploration and development of any resources within a \"Carve-Out Area\" which is LKA's current area of operation. \n\nAccording to LKA President, Kye Abraham, \"This Agreement with Kinross enables us to get a look at, and participate in, any gold discoveries made over a much larger area, much sooner, than LKA's limited resources would otherwise allow.\" Mr. Abraham added, \"As one of the world's preeminent gold producers, Kinross brings the technical and financial muscle this project needs. We're encouraged that Kinross recognizes the potential of this unique property.\" \n\nInterested par...