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Crown Gold Signs Letter of Intent to Option Red Lake Property
Toronto, Ontario--(Newsfile Corp. - June 3, 2014) - Crown Gold Corporation (TSXV: CWM) (" Crow...
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[{"type":"text","content":"\nCrown Gold Signs Letter of Intent to Option Red Lake PropertyToronto, Ontario--(Newsfile Corp. - June 3, 2014) - Crown Gold Corporation (TSXV: CWM) \n(\"Crown\" or the \"Company\") is pleased to announce that it has \nsigned a letter of intent with UC Resources Ltd. (\"UC\") to grant UC an option to \nacquire Crown's McKenzie Island property in Red Lake, Ontario.\nTo acquire 100% of the property, UC must issue 2,000,000 \nconsolidated UC shares (UC is proposing a 1:10 consolidation of its shares) and \npay $395,000 in cash over a 5-year period. The transaction is subject to a \nnumber of conditions, including due diligence by UC, completion of formal \ndocumentation, and all necessary regulatory approvals.\nCrown is focused on advancing its 100% controlled Superior \nCopper Project in Northeast California for which an initial National Instrument \n43-101 (\"NI 43-101\") compliant resource estimate, effective October 2, 2013, was \nrecently reported and filed on Sedar. \nFor more information please see the Crown website at \nwww.crowngoldcorp.com. \nFor Further Information Contact: \nMr. Stephen Dunn, President, CEO and director, Crown Gold \nCorporation (416) 361-2827 or email [email protected] \nNeither TSX Venture Exchange nor its Regulation Services \nProvider (as that term is defined in the policies of the TSX Venture Exchange) \naccepts responsibility for the adequacy or accuracy of this release. \nThis press release contains forward-looking statements \nwithin the meaning of applicable Canadian and U.S. securities regulation, \nincluding statements regarding the future activities of the Company. \nForward-looking statements reflect the current beliefs and expectations of \nmanagement and are identified by the use of words including \"will\", \n\"anticipates\", \"expected to\", \"plans\", \"planned\" and other similar words. Actual \nresults may differ significantly. The achievement of the results expressed in \nforward-looking statements is subject to a number of risks, including those \ndescribed in the Company's management discussion and analysis as filed with the \nCanadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue \nreliance upon forward-looking statements. \n\t\t\t\n\t\t\t\tcopyright (c) newsfile corp. 2014. all rights reserved\n\t\t\...