| | Published : May 03rd, 2011 | Q-Gold Acquires Option on Historic Arizona Peck and Oriental Silver Mines |
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Q-GOLD RESOURCES LTD.
c/o Mineral Creek Resources Inc.
Bank of America Building
Suite 508, 121 East Birch Avenue
Flagstaff, Arizona 86001
Ph: (928) 779-0166/ Fax: 779-0107
www.QGoldResources.com |
Q-GOLD ACQUIRES OPTION ON HISTORIC ARIZONA PECK AND ORIENTAL SILVER MINES
SEC 12g 3-2(b) Exemption # 82-4931
Flagstaff,Arizona, May 3, 2011
Q-GoldResourcesLtd.(TSXVENTURE:QGR) (http://www.qgoldresources.com)announced todaythatit has signed a 5-year Purchase Option Agreement with private parties for 5 patented mining claims containingthehistoricPeckandOrientalSilverMines. TheminesarelocatedintheSouthernBradshaw
Mountains,near CrownKing, in the Peck Mining District of Yavapai County, Arizona. The Company has also recently staked 12 BLM mining claims totalling 240 acres adjoining the mines.
Q-Goldhas previouslyannounced the optioning of threeadditional historicsilver mines in Crown King, the "SilverKing"(PineGroveMiningDistrict),"BlackWarrior"andaportionofthe"SilverPrince"(bothin thePeckDistrict),allof whichwerehigh-gradehistoricsilverproducersattheendofthe19th Century (PressReleasedated10/13/10). Q-Goldhasrecentlystaked10additionalBLMclaimsaroundtheSilver Prince/BlackWarriorMines,foranadditional200acresofsilverprospects. Inaddition,thefamousTiger andtheHammondRiggssilverminesinCrownKing'sTigerMiningDistrictarealreadyunderoptionto Q-Gold.
TheCompanyplanstolaunchanairbornegeophysicalsurveyoveritsentire"silverpackage"atCrown Kingtodetermineprospectivedrilllocationsforacombinationreversecirculation/diamonddrilling programlater this summer.
TheOptionrequiresaseriesofsemi-annualcashpaymentstoOwnersandgivesQ-Goldtherightto conductexplorationandminingoperationsandtopurchase100%interestinthePeckMinePropertiesat anytimeduringthe OptionPeriodforapaymentofUS$200,000incashandUS$200,000inQ-Gold Shares.
ThePurchase Option Agreementis subject to the approval of the TSX-Venture Exchange.
About Q-Gold Resources Ltd.
Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals on its 26,000 acres of Ontario holdings in the historic Gold Camp at Mine Centre, including 5 historic gold mines. In addition, the Corporation holds options on historic gold and silver mines in the historic Arizona gold camp of Crown King, and copper prospects in eastern and western Arizona.
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. Neither the 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.
CONTACT INFORMATION
Corporate Inquiries
Q-Gold Resources Ltd.
J. Bruce Carruthers II, Chairman
1-888-779-0166
http://www.qgoldresources.com
FOLLOW US ON
Forward-looking statements relating to future events or future performance and reflecting First Star Resources or beliefs regarding future events include, but are not limited to, statements with respect to completion of the private placement and related matters. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Petro Horizon to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in First Star Resources interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although First Star Resources has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements.
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." | |
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Q Gold Resources | #508 - 121 East Birch Avenue | Flagstaff | AZ | 86001 |
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Q-Gold Resources Ltd.
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EXPLORATION STAGE |
CODE : QGR.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Q-Gold Res. is a gold exploration company based in United states of america. Q-Gold Res. holds various exploration projects in Canada. Its main exploration properties are FOLEY, CROWN KING, RAY, TROY, PINAFORE and MINE CENTRE in Canada. Q-Gold Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 764 100 as of today (US$ 610 938, € 535 182). Its stock quote reached its highest recent level on October 30, 2009 at CA$ 9.61, and its lowest recent point on September 15, 2023 at CA$ 0.01. Q-Gold Res. has 25 470 000 shares outstanding. |
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