MONTREAL, July 22 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR) (the "Company") is pleased to announce that it has reached an agreement with Excel Gold Mining ("Excel") for the purchase of its Montauban Properties.
The Montauban Properties, which are located approximately 100 km north east of Shawinigan in the province of Quebec, include a past producing mine that was operated by the Company from 1982 to 1990. During that period the mine produced 550,000 tonnes grading 4.04 g/t gold and 36.6 g/t silver. There is no NI43-101 compliant resource presently identified on the property.
In return for a 100% of the mining rights and transferred rights in the mine and its 2 adjacent claims, Excel agrees to pay the Company a valued consideration of $150,000 plus a 1% Net Smelter Return (NSR) royalty, redeemable for $1,000,000.
Francois Perron, President and CEO comments "This sale agreement allows us to focus on our gold project at Magino where we have a NI43-101 compliant gold resource of more than 450,000 ounces measured and indicated and 1,1000,000 ounces in the inferred category."
ABOUT GOLDEN GOOSE RESOURCES
Golden Goose Resources Inc. is a Canadian public company listed on the TSX Venture Exchange under the symbol GGR. The Company is principally engaged in mineral exploration and acquisition and has a portfolio of gold, platinum group metals, and nickel properties in Ontario and Quebec.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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