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Canada Gold Receives Conditional TSX Venture Exchange Approval for the acquisition of 700km2 of Prospecting Licenses in Tanzania
(via Thenewswire.ca) Vancouver, British Columbia, Canada - October 12, 2011 - Canada Gold Cor...
About this update from South Star Battery Metals Corp
[{"type":"text","content":"\nCanada Gold Receives Conditional TSX Venture Exchange Approval for the acquisition of 700km2 of Prospecting Licenses in Tanzania\n\n(via Thenewswire.ca)\n\n \nVancouver, British Columbia, Canada - October 12, 2011 - Canada Gold Corporation (TSX-V: CI, Frankfurt: T9N, OTC-BB: CNGZF) (\"Canada Gold\" or the \"Company\") is pleased to announce that it has received conditional TSX Venture Exchange approval for its option to acquire a 100% interest in the Sindeni Project (the \"Sindeni Project\") in North-Eastern Tanzania, Africa. Pursuant to the option agreement (the \"Option Agreement\") with Falco Goldfields Limited (\"Falco\"), dated July 27, 2011, and amended September 23, 2011, the Company can acquire a 100% interest in 4 prospecting licenses, potentially hosting gold and other minerals, totaling approximately 702 square kilometers, by meeting the requirements outlined below. Falco will also be retaining a 2.5% net smelter return royalty, of which 1.5% can be purchased for US $2,000,000 at any time, once all considerations have been satisfied.\n\n\n \n\n------------------------------------------------------------------\n|Payment Date |US Cash | |Shares |Work Commitment|\n|----------------------------------------------------------------|\n|On TSX Filing (paid) |$ 50,000 | |- -- |\n|----------------------------------------------------------------|\n|On TSX-V Approval |$ 100,000 | |1,000,000 |- |\n|----------------------------------------------------------------|\n|On 6 month Anniversary |$ 150,000 | |500,000 |- |\n|----------------------------------------------------------------|\n|On 12 month Anniversary|$ 150,000 | |500,000 |- |\n|----------------------------------------------------------------|\n|On 18 month Anniversary|$ 150,000 | |500,000 |- |\n|----------------------------------------------------------------|\n|On 24 month Anniversary|$ 150,000 | |500,000 |$ 2,000,000 |\n|----------------------------------------------------------------|\n|On 30 month Anniversary|$ 150,000 | |500,000 |- |\n|----------------------------------------------------------------|\n|On 36 month Anniversary|$ 150,000 | |- |$ 2,000,000 |\n|----------------------------------------------------------------|\n|Total |$ 1,050,000| |*3,500,000|$ 4,000,000 |\n-------------------------------------------------...