BCGold Corp. Enters Agreement to Option Minto Area Property to Pacific-Link Capital Inc.
BCGold Corp. (TSX VENTURE:BCG)(PINKSHEETS:BCGOF) (or the "Company") is pleased
to announce that the Company has entered into a Letter Agreement with
Pacific-Link Capital Inc. ("Pacific-Link") (TSX VENTURE:PCL.P) whereby, subject
to regulatory approval, Pacific-Link can earn up to a 70% interest in BCGold
Corp.'s 100% controlled Toe Property, Yukon.
BCGold Corp. has granted Pacific-Link the option to acquire a 60% interest in
the Toe Property ("Property") by making $255,000 in cash payments, $1,900,000 in
exploration expenditures and issuing 400,000 shares of Pacific-Link to BCGold
Corp. over a four year period. Pacific-Link can earn an additional 10% interest
in the Property by completing a feasibility study, for a total interest of up to
70%. In addition to regulatory approval, the Pacific-Link option is subject to
BCGold Corp. and Pacific-Link entering into a definitive option and joint
venture agreement on or before April 30, 2012.
The 1,600 hectare Toe Property is one of BCGold Corp.'s 16 Minto/Carmacks Copper
Gold Properties (15,925 hectares) in Yukon, strategically located proximal and
adjacent to Capstone Mining Corp.'s currently producing, high-grade copper-gold
Minto Mine and Copper North Mining Corp.'s Carmacks Copper Project. BCGold Corp.
is the largest land holder in the Carmacks Copper-Gold Belt, having spent
approximately $4 million in exploration expenditures over the past 4 years and
discovering 7 copper-gold mineralized zones.
The Toe Property is located 7 kilometers northwest of the Minto Mine and 255
kilometres northwest of Whitehorse, Yukon. The Toe Property is drill-ready and
hosts a number of copper-gold soil anomalies and "Minto-type" geophysical
targets. The Toe Property is subject to a 2.5% net smelter returns royalty
interest held by BCGold Corp. and a third party.
About BCGold Corp.
BCGold Corp. (TSX VENTURE:BCG) is a Vancouver-based junior resource company
focused on copper and gold exploration and development in under-explored
historic and emerging mining districts in British Columbia and Yukon. BCGold
Corp. acquires and develops conceptual, early and mid-stage exploration
opportunities and advances them towards resource development by using internal
expertise, engaging preferred joint venture partners, and creating strategic
alliances with major exploration and mining companies.
BCGold Corp. is unique in that the Company not only exposes investors to the
prospects of new discoveries, but is also positioned to offset exploration costs
and minimize dilutive share issuances for capital by monetizing / forward
selling gold concentrate recovered from on-site processing of bulk sample
material at the Company's high-grade gold Engineer Mine Property.
On behalf of the Board of Directors,
Brian P. Fowler, P.Geo., President & CEO
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