BCGold Corp. Enters Agreement to Option Minto Area Property to Pacific-Link Capital Inc.
MarketwirePress Release: BCGold Corp. – Thu, Mar 15, 2012 9:45 PM
VANCOUVER, BRITISH COLUMBIA--(Marketwire -03/15/12)- BCGold Corp. (TSX-V: BCG.V - News)(Pinksheets: BCGOF.PK - News) (or the "Company") is pleased to announce that the Company has entered into a Letter Agreement with Pacific-Link Capital Inc. ("Pacific-Link") (TSX-V: PCL-P.V - News) 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-V: BCG.V - News) 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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