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DISCOVERY HARBOUR ENTERS EXTENSION TO THE AGREEMENT TO

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Sam Dan Member Level  Monday, 02/27/17 08:47:58 PM
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DISCOVERY HARBOUR ENTERS EXTENSION TO THE AGREEMENT TO PURCHASE 100% OWNERSHIP OF TWO NEVADA GOLD PROJECTS

Discovery Harbour Resources Corp. has reached an agreement with Genesis Gold Corp. to extend the term of the exploration licence and option-to-purchase agreement to acquire a 100-per-cent interest in two gold projects in Nevada.

As was set forth in the original agreement, Discovery Harbour was allowed 90 days from Nov. 18, 2016, during which it was to raise capital for exploration of the Caldera and Jersey Valley gold projects. The 90-day anniversary of the signing (Feb. 18, 2017) also required the company to pay the second advance royalty payment of $15,000 (U.S.). On Feb. 17, 2017, the company entered a three-month extension agreement with Genesis for the purpose of financing these projects and to extend the date of the second royalty payment to May 18, 2017. The remaining terms of the original exploration licence and option-to-purchase agreement announced in a press release dated Nov. 23, 2016, which may be viewed on SEDAR, remain unchanged.

Discovery Harbour continues to search for available financing sources, and the scope of Discovery Harbour's 2017 exploration program is subject to the company's ability to raise additional capital.

Michael J. Senn, a licensed professional geologist, is the qualified person for Discovery Harbour as described in National Instrument 43-101, and has reviewed and approved the technical contents of this release.


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