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Terraco Gold Reports on Barrick�s 70% Earn-In on the Spring Valley Gold Project, Nevada
Highlights:
<!--[if !supportLists]-->- <!--[endif]-->Barrick has earned 70% interest (by spending $38,000,000) in the joint venture with Midway Gold Corp. of the Spring Valley project, Nevada
<!--[if !supportLists]-->- <!--[endif]-->Terraco has royalty coverage of up to 3% NSR on claims covering the known Spring Valley gold deposit
Vancouver, BC, November 21, 2013 - (TSX Venture: TEN). Terraco Gold Corp. (�Terraco� or the �Company�) is pleased to announce that on November 18, 2013, Midway Gold Corp. (�Midway�) reported that Barrick Gold Corp. (�Barrick�) has informed Midway of the completion of $38 million in expenditures on the Spring Valley project, Pershing County, Nevada which meets the expenditure requirement for Barrick to earn a 70% interest in the joint venture. Midway also reported that the Barrick expenditures for the earn-in on the Spring Valley project are more than a year ahead of the scheduled requirements under their agreement.
The Spring Valley project is a large, porphyry-hosted gold system, located approximately 32 kilometers (�km�) northeast of Lovelock, Nevada that hosts a NI43-101 compliant gold resource. Terraco has gold royalty coverage of up to 3% NSR on claims covering the project and also controls over 35 square km�s of early-stage exploration potential (the Moonlight Project) adjoining the Spring Valley project joint venture to the north.
�With a significant royalty structure and option of up to 3% NSR on the Spring Valley gold project, we are pleased to see that Barrick has completed this earn-in with Midway. This milestone is encouraging from a project development standpoint. The Spring Valley project is a great Nevada story from the discovery by the early prospectors to a grass roots project to its current advanced stage development and we look forward to the continued success at Spring Valley�, stated Todd Hilditch, President and CEO of Terraco.
Terraco�s Royalty Assets and Map
For a description of Terraco�s royalty assets, including a royalty map of Spring Valley deposit, please follow the below link to our website.
http://www.terracogold.com/s/SpringValleyRoyalty.asp
More information on the Spring Valley project can be accessed through Sedar (further to Midway Gold) or Midway�s website.
To view this entire press release please visit:
November 21st, 2013 Terraco Gold press release The reader is invited to view a recent video interview by Jeremy Naylor of Proactive Investors and Terraco President & CEO Todd Hilditch:
Terraco Gold CEO sees 'Significant' Cashflows from Barrick Gold Project
The reader is invited to view Terraco�s corporate presentation (including detailed outline of the Barrick led NSR royalty assets in Nevada) contained in the link below:
Please always feel welcome to call at either of the numbers listed below.
Thank you as always for your time.
Matt
Please find the Terraco Gold Corporate Video with contained in the link below:
Terraco Gold Corporate Video
Please visit our website at:
http://www.terracogold.com/
Matt W. Johnston
1825-1055 West Hastings St.
Vancouver, BC Canada
V6E 2E9
Tel: 604.443.3835
Toll-Free: 1.877.792.6688 Ext: 4
Request more information
About Terraco Gold
Terraco Gold Corp. (TSX.V: TEN | US: TCEGF), ("Terraco") project portfolio includes an NSR royalty and NSR royalty options on a Barrick Gold led project in Nevada and controls 100% of the 35 sq km that adjoins the north side of the Barrick led project. In addition Terraco controls 100% of an advanced-stage gold project in Idaho.
Terraco has royalty coverage on claims covering the Spring Valley Gold Project ("Spring Valley"), located in Pershing County, Nevada. Spring Valley is a joint venture between Barrick Gold Corp. ("Barrick") and Midway Gold Corp., where Barrick has the right to earn 60% interest in the project by completing work expenditures totalling US $30 million before December 31, 2013. Terraco's net smelter returns ("NSR") royalty coverage includes the option to acquire a 2.5% NSR royalty on claims covering the majority of the Spring Valley deposit and an additional direct ownership up to an additional 1% NSR royalty covering the remaining portion of the Spring Valley deposit.
Terraco also controls over 13 sqm's (35 sqkm) in its 100%-owned Moonlight Project which is located along trend and adjoins the north side of Spring Valley.
The 100% owned �Moonlight Project� is located 200 kilometres northeast of Reno, Nevada and approximately 8 kilometres north of the Coeur d'Alene Rochester silver-gold mine. The Rochester Mine has produced over 125 million ounces of silver and 1.2 million ounces of gold in its 25 year history and has recently returned to production.
The 100% owned �Almaden (Nutmeg Mountain) Project� is located 126 kilometres north of Boise, Idaho. The project hosts a National Instrument 43-101 compliant measured plus indicated and inferred resource of 948,000 ounces of gold within 90 m of surface. The advanced- stage Almaden (Nutmeg Mountain) Project project has excellent access with good infrastructure and includes over 69,000 m of drilling in 935 drill holes.
Terraco's exploration is conducted by Charles Sulfrian, CPG (Vice President, Exploration) and Ken Snyder, PhD (Lead Consulting Geologist). Both Mr. Sulfrian and Dr. Snyder were instrumental in the discovery of major Nevada gold mines including Barrick's Goldstrike Mine and Newmont's Ken Snyder Midas Mine respectively.
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Safe Harbor Statement
The material herein is for informational purposes only and is not intended to and does not constitute the rendering of investment advice or the solicitation of an offer to buy securities. The foregoing discussion contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The Act). In particular when used in the preceding discussion the words �plan,� confident that, believe, scheduled, expect, or intend to, and similar conditional expressions are intended to identify forward-looking statements subject to the safe harbor created by the ACT. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward looking statements. Such risks and uncertainties include, but are not limited to future events and financial performance of the company which are inherently uncertain and actual events and / or results may differ materially. Johnston-Sequoia Capital Corp. is a paid advisor and owns shares of Terraco gold Corp. Mr. Johnston owns shares in Terraco Gold Corp. We cannot attest to nor certify the correctness of any information in this e-mail. Please consult your financial advisor and perform your own due diligence before considering the company mentioned in this informational e-mail.
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