VANCOUVER, June 9, 2011 /CNW/ - Calico Resources Corp. (TSX-V: CKB) (the "Company" or "Calico") is pleased to announce that the TSX Venture Exchange has given final approval on the option agreement for the acquisition of a 100% interest (subject to certain royalties) in the Grassy Mountain Project (the "Project") from Seabridge Gold Inc. ("Seabridge").
The Grassy Mountain Project has NI 43-101 compliant Indicated resources of 924,000 ounces of gold averaging 1.54 gram per ton at a 0.55 gram per ton cutoff.
The Company also announces that effective May 16, 2011, BDO Canada LLP, Chartered Accountants has been appointed the Company's auditor in place of Smythe Ratcliffe, Chartered Accountants. The former auditor and new auditor confirm that there are no disagreements or unresolved issues.
The resignation of Smythe Ratcliffe and the recommendation to appoint BDO Canada LLP has been approved by the Board of Directors of the Company.
At the Company's 2011 annual general meeting, shareholders of the Company will be asked to approve the change of auditor of the Company.
On behalf of the Board,
William S. Wagener
President and CEO
This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound.
"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."