VANCOUVER,
BRITISH COLUMBIA--(Marketwire - Sept. 14, 2009) - BCGold Corp. ("BCGold"
or the "Company") (TSX VENTURE:BCG) is pleased to announce that the
Company and Kaminak Gold Corp. ("Kaminak") have amended the Voigtberg
Option Agreement entered into on August 18, 2006, subject to TSX Venture
Exchange approval (See news release dated September 15, 2006).
In consideration for 100,000 BCGold Corp. common shares, to be issued to
Kaminak within 15 days of TSX Venture Exchange approval, the following
agreement components have been amended:
- A one year extension to fulfill certain option terms in order to acquire
interests in Kaminak's Voigtberg property, originally requiring BCGold to incur
$1,000,000 in eligible exploration expenditures by September 15, 2009 to earn a
50% interest.
- A one year extension to issue and deliver 100,000 BCGold Units to Kaminak,
originally requiring BCGold to issue said Units on September 15, 2009.
- A one year extension to incur an additional $350,000 in eligible exploration
expenditures on or before September 15, 2009, and the extension by one year of
the date by which BCGold must incur an additional $650,000 in eligible
exploration expenditures, on or before the end of September 15, 2010, for an
additional 10% interest in the Property.
BCGold has incurred $919,000 in eligible exploration expenditures on the
Voigtberg Property to date by conducting geological mapping, sampling, soil
geochemical and airborne geophysical surveys, and limited diamond drill
programs in 2006 and 2007. The exploration focus has been the "Gold
Zone", partially defined over a 300 metre strike length and a 2006 drill
hole intersection of 51.15 m averaging 1.03 g/t gold, including an 18.17 metre
segment averaging 1.87 g/t gold.
"The Voigtberg property remains a cornerstone gold property for BCGold. We
are very grateful that Kaminak has agreed to amend this option agreement and
accommodate BCGold's exploration agenda," cites Brian P. Fowler, P.Geo.,
President and C.E.O. of BCGold.
About BCGold Corp.
BCGold Corp. (TSX VENTURE:BCG) is a Vancouver-based junior resource company
focused on copper and gold exploration in under-explored historic mining and
exploration 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.
On behalf of the Board of Directors,
Brian P. Fowler, P. Geo., President & CEO
Some statements in this news release contain forward-looking information. These
statements include, but are not limited to, statements with respect to future
payments, expenditures and unit issuances and exploration, development and
production activities. These statements address future events and conditions
and, as such, involve known and unknown risks, uncertainties and other factors,
which may cause the actual results, performance or achievements to be
materially different from any future results, performance or achievements
expressed or implied by the statements. Such factors include, among others, the
timing of future payments, expenditures and unit issuances and the timing and
success of future exploration, development and production activities.
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FOR FURTHER INFORMATION PLEASE CONTACT:
BCGold Corp.
Investor Relations
(604) 646-1589
Fax: (604) 642-2411
info@bcgoldcorp.com
www.bcgoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
INDUSTRY: Manufacturing and Production - Mining and Metals
SUBJECT: JVN - JOINT VENTURES
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