Victoria Gold Corporation

Published : November 02nd, 2009

Announces the Sale of the Clear Creek Exploration Property to Golden Predator

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

 


Press Release

Media Relations

Web Development

 

Victoria Announces the Sale of the Clear Creek Exploration Property to Golden Predator

TORONTO, ON, November 2, 2009 - Victoria Gold Corp. (VIT.TSX-V) (�Victoria� or the �Company�) is pleased to announce as part of its ongoing non-core gold asset value optimization program, the sale of its Clear Creek exploration property in the Yukon Territory, Canada to Golden Predator Royalty & Development Corp. (GPD.TSX-V) (�Golden Predator�) for a total consideration of up to $1,050,000 cash,,1050,000 shares of Golden Predator stock, plus a work commitment of $3 million and a retained royalty.

�The sale of Clear Creek is positive for Victoria�, said Chad Williams, President, CEO, and Director.  �The property has exploration promise, but our focus in the Yukon is on the large, advanced Eagle Gold Project.  The sale of Clear Creek to Golden Predator, an entrepreneurial company already active in gold elsewhere in the Yukon, allows Victoria to retain a sizeable economic interest in the property.�

William M. Sheriff, Chairman and CEO of Golden Predator stated: �The acquisition of Clear Creek presents us with an important advanced exploration project in the emerging Tintina Gold Belt, as well as the opportunity to work with Victoria Gold, one of the leading companies in the Yukon. We look forward to taking this established Project and advancing it through an aggressive drill program to commence in the second quarter of 2010.�

The Clear Creek Property

Clear Creek is composed of 77 Quartz claims in the Dawson Mining District and is 100% owned by Victoria.  Clear Creek is located 110km east of Dawson between the Little South Klondike River and Clear Creek.  The property was acquired in conjunction with Victoria�s acquisition of StrataGold Corporation that closed on June 4, 2009. 

Terms of the deal

Victoria will grant to Golden Predator the exclusive option to acquire a 100% interest in the Clear Creek Project.  In exchange, Victoria will receive an initial payment of $50,000 and 300,000 common shares of Golden Predator.
Additionally, Victoria will receive a further $1.0 million cash and 750,000 shares of Golden Predator stock over a period of 5 years.  Plus, Golden Predator must spend in aggregate $3 million in work on the property on or before December 31, 2013.

Of the total consideration, $125,000 in cash payments, 300,000 shares and $500,000 in exploration expenditures are firm commitments by Golden Predator.
Victoria will retain a 3% NSR on the property which can be reduced to 2% by Golden Predator upon pay ment of $1 million to Victoria.

About Victoria

Victoria Gold Corp. is a high growth gold company with a focus on adding value per share through efficient exploration, project development, accretive acquisitions and effective marketing. Maintaining a low risk profile through project diversification, sound financial management, and operating in secure jurisdictions are key priorities for Victoria�s management team.


On Behalf of Victoria Gold Corp.
Chad Williams, P. Eng, CEO, President & Director

Cautionary Language and Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include metal prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.

This news release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration.

 

 

Contact

Victoria Gold Corp.

Chad Williams
President & CEO
Tel.: (416) 866-8800 ext 230
cwilliams@vitgoldcorp.com

Renmark Financial Communications Inc.
Barbara Komorowski: bkomorowski@renmarkfinancial.com
Christine Stewart: cstewart@renmarkfinancial.com
Tel.: (514) 939-3989 or (416) 644-2020 www.renmarkfinancial.com

 

Renmark Financial Communications Inc.

Montreal (Head Office): 2080 boul. Ren�-L�vesque Ouest, Montr�al, Qu�bec, H3H 1R6
Tel.: (514) 939-3989 Fax: (514) 939-3717
Toronto: 121 King Street West, Suite 1140, Toronto, Ontario, M5H 3T9
Tel.: (416) 644-2020 Fax: (416) 644-2021

Website: www.renmarkfinancial.com - Email: info@renmarkfinancial.com

 

Disclaimer: This correspondence is not to be construed as an offer to buy or sell securities or options. Renmark does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest. We support best practices in responsible e-mail marketing and respect your right to be removed from this campaign. Should you no longer wish to receive e-mails from us, please reply to this e-mail, indicating "Unsubscribe" in the subject line.

 

Victoria Gold Corporation

DEVELOPMENT STAGE
CODE : VIT.V
ISIN : CA92625W1014
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Victoria Gold Corp. is an exploration gold company based in Canada.

Victoria Gold Corp. holds various exploration projects in Canada and in Guyana.

Its main asset in development is DUBLIN GULCH EAGLE GOLD MINE in Canada and its main exploration properties are TASSAWINI GOLD, COVE, TASSAWINI, WHITE CREEK, MILL CANYON and KAITUMA in Guyana and EUREKA, SANTA FE, MAR-TUNGSTEN and DUBLIN GULCH MAR TUNGSTEN in Canada.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Corporate Presentations of Victoria Gold Corporation
3/6/2015Provides Updated Corporate Presentation
In the News and Medias of Victoria Gold Corporation
5/20/2010Sign MOU on the Eagle Gold Project
Financings of Victoria Gold Corporation
8/8/2016Victoria Gold Announces $25,025,000 Bought Deal Financing
8/7/2009 Commences Drilling at Santa Fe, Nevada and Closes Flow-Thro...
Option Grants of Victoria Gold Corporation
12/18/2009Announces Grant of Stock Options
Nominations of Victoria Gold Corporation
2/4/2011Announces Appointment of John McConnell as President and CEO
1/8/2009Appoints John McConnell as Executive Vice President
Project news of Victoria Gold Corporation
4/5/2017Begins $6.2M, Phase 1 Exploration Program, Yukon
2/6/2013Closes the Sale of the Big Springs Property in Nevada
9/11/2012Continues to Define Higher Grades at Eagle Gold Deposit
5/25/2012(Mill Canyon)Enters Into Agreement to Sell its Mill Canyon Property in Ne...
9/19/2011(Mill Canyon)To Drill the Mill Canyon Project in Nevada
5/23/2011(Dublin Gulch Eagle Gold Mine)Reports Positive Drill Results from the Eagle Gold Deposit
5/12/2011(Cove)Announces Updated Cove Resource Estimate
2/28/2011(Dublin Gulch Mar Tungsten)Victoria Gold Announces 2011 Dublin Gulch Exploration Progra...
2/28/2011(Dublin Gulch Eagle Gold Mine)Announces 2011 Dublin Gulch Exploration Program
2/7/2011(Dublin Gulch Eagle Gold Mine)Announces Further Progress on the Path toDevelopment of the ...
1/25/2011(Dublin Gulch Eagle Gold Mine)Announces Eagle Feasibility Study Underway
12/10/2009Eagle Gold Project Drilling Results Including 161.8 m Gradin...
6/23/2009(Cove)Announces Additional High-Grade Gold Assays From the Helen Z...
3/2/2009(Cove)Advancing the Helen Zone: Growth Plans Defined
Corporate news of Victoria Gold Corporation
7/6/2016Victoria Receives Surface Trench Results from Olive includin...
7/5/2016Victoria Gold Purchases Construction Camp and Reduces Upfron...
6/28/2016Victoria Receives Olive Results including: 168m at 0.92 g/t ...
6/17/2016Victoria Gold Closes $2.85 Million Flow-Through Financing at...
6/16/2016Victoria Gold Strengthens its Technical Team with the Appoin...
6/15/2016Victoria Receives Olive Results including: 35m at 1.8 g/t an...
6/3/2016Victoria Confirms High Grade Results at Olive including: 46m...
5/24/2016Victoria Confirms High Grade Mineralization between the Oliv...
5/16/2016Victoria's Shamrock Zone Achieves 88% Metallurgical Recovery
12/24/2015Victoria Gold Completes $3.6M Flow-Through Financing to Dril...
12/22/2015Victoria Gold Receives Final Major Permit for Eagle Gold Pro...
12/22/2015Victoria Gold Completes Flow-Through Private Placement Finan...
12/16/2015Victoria Announces Grant of Stock Options
8/7/2015Victoria's High Grade Olive Zone is Heap Leachable
2/26/2015Yukon Ranks 1st in Mineral Potential and 9th Overall in the ...
2/24/2015(Cove)Olive Zone Demonstrates Attractive Metallurgical Recovery an...
2/24/2015Victoria's Olive Zone Demonstrates Attractive Metallurgical ...
1/14/2015Announces Grant of Stock Options
11/4/2014Victoria Completes Successful Exploration Program at High-Gr...
8/13/2014Victoria Announces Olive Grows as Step-Out Holes Continue to...
7/28/2014Victoria Continues to Receive High Grade Results at Olive; $...
6/24/2014Victoria's Olive Zone Yields High Grade Gold Intercepts Over...
6/18/2014Victoria Receives $10 Million Third Payment from Sale of Cov...
5/20/2014Victoria Initiates Drilling to Test High Grade Target Adjace...
5/20/2014Victoria Initiates Drilling to Test High Grade Target Adjace...
4/19/2014Victoria Gold Announces Changes to its Board of Directors
5/7/2013Provides Status Report on Eagle Gold Project
2/22/2013Announces Upcoming Marketing Events
2/15/2013Acquires Common Shares of Banyan Gold Corp.
1/28/2013Extends Gold Mineralization at Olive, Adjacent to Victoria's...
1/12/2013Announces Grant of Stock Options
1/12/2013Announces Grant of Stock Options
10/29/2012Expands Higher Grade Gold Target at Olive, Adjacent to Victo...
6/26/2012Working Capital Update
6/7/2011The First Nation of Nacho Nyak Dun and Victoria Extend Explo...
3/17/2011Selected for Global X S&P/TSX Venture 30 Canada ETF
4/27/2010Completes Guyanese Gold Asset Transaction
1/12/2010Hits Another Wide Gold Intercept at Santa Fe: 284 m Grading ...
12/15/2009 Provides Update on Nevada Gold Projects
11/13/2009Announces Guyanese Gold Asset Monetization
11/2/2009 Announces the Sale of the Clear Creek Exploration Property ...
10/29/2009 Announces That Drilling at Summit Gold Project is Underway
7/20/2009Exceptional Gold Exploration Results in Guyana
7/16/2009Notice of AGM on July 22, 2009
6/5/2009Closing of Business Combination With StrataGold Corporation
5/27/2009Acquisition by Victoria Gold Corp. Approved by Shareholders ...
2/13/2009StrataGold Corporation and Victoria Gold Corp. Webcast
2/11/2009 and StrataGold Corporation Announce Business Combination
1/26/2009 Board Approves $2.5 million Budget to Advance Nevada Gold P...
12/17/2008Announces Closing of Business Combination with Gateway Gold ...
5/30/2007Further Drill Results at Cove-McCoy Project, Nevada
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (VIT.V)Other OTC (VTSRF)
8.30-3.60%0.330+10.00%
TSX-V
CA$ 8.30
01/22 15:55 -0.310
-3.6%
Prev close Open
8.61 8.52
Low High
8.30 8.58
Year l/h YTD var.
8.30 -  9.35 -2.35%
52 week l/h 52 week var.
0.380 -  9.35 1,576.77%
Volume 1 month var.
79,893 0.851%
24hGold TrendPower© : 24
Produces
Develops Gold
Explores for Gold - Silver - Tungsten
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
20201704.35%
201922.67%0.660.37
2018-13.79%0.470.31
2017-22.32%0.740.40
2016250.00%0.800.15
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 8.82-1.45%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.66-1.48%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 2.81-1.75%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 1.17-1.68%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 1.76+15.03%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.01+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.13-1.39%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 0.67+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 7.49+0.40%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.06+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.12+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 3.52+4.76%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 24.30-2.76%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+13.33%Trend Power :