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Frontline Gold Purchases Remaining 10% of Turkish Assets
Published : December 07, 2012
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Keywords :   Copper | Gold | Gold Mine | Mali | Market | Turkey |

TORONTO, ONTARIO--(Marketwire - Dec. 7, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Frontline Gold Corporation (News - Market indicators) ("Frontline" or the "Company") announces that it has purchased the outstanding 10% ownership of its Turkish subsidiary, FrontlineGold Madencilik San. Ve Tic. Ltd. Şti, from Aegean Gold Madencilik Ltd. Sti. ("Aegean Gold"). Aegean Gold, through its partners, had assisted the Company with the sourcing and acquisition of its permits in Turkey. Frontline now owns 100% of the Turkish assets, including the Menderes project. Frontline will issue 1,500,000 shares of the Company to Aegean Gold, at a deemed value of C$0.03 per share, subject to TSX Venture Exchange approval and final documentation. 

Frontline's Menderes project, located in Izmir province, western Turkey and located only 20 km from the provincial capital of Izmir, consists of 62 km2 in a high potential epithermal gold environment. The exploration focus of Menderes is the eastern strike extension of Eldorado Gold Corporation's Efemcukuru gold mine, which began operation in mid-2011.

Update

As highlighted in the Company's November 8, 2012 press release, Frontline continues to engage in active discussions with several interested parties in an effort to monetize its interest in the Menderes project.

Finally, early stage prospecting and review of compilation work of properties in Turkey continues with the objective of adding to Frontline's Turkish portfolio.

Commentary

"I would like to thank Aegean Gold and its partners for its assistance and guidance during the early days of development of the Company's Turkish subsidiary" said President and CEO, Walter Henry. "Furthermore, I am pleased with the level and progress of the discussions that we have been having with parties interested in our 100% owned Menderes Project."

About Frontline Gold Corporation

Frontline is a Canadian junior mineral exploration company with an experienced discovery team and a proven record of accomplishment. The Company's flagship properties include the Menderes gold project in the Izmir province of Western Turkey and the Niaouleni gold project in southern Mali in the heart of West Africa's prolific gold belt. Ongoing Canadian exploration includes the Poly (gold VMS) and the Stewart (gold-copper porphyry) projects.

For further information, please visit the Company's website at www.frontlinegold.com to view the most recent corporate presentation.

This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Walter Henry, President & CEO

FRONTLINE GOLD CORP.

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Frontline Gold Corporation
Walter Henry
(416) 362-9100
(416) 362-9300 (FAX)
info@frontlinegold.com
www.frontlinegold.com
Companies Mentionned : Eldorado Gold | Frontline Gold | Reliance | Southern |
Data and Statistics for these countries : Mali | Turkey | All
Gold and Silver Prices for these countries : Mali | Turkey | All

Frontline Gold Corp.

EXPLORATION STAGE
CODE : FGC.V
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Frontline Gold is an exploration gold company based in Canada.

Frontline Gold holds various exploration projects in Mali and in Turkey.

Its main exploration properties are JUBILEE in Canada, NIAOULENI in Mali and MENDERES in Turkey.

Your feedback is appreciated, please leave a comment or rate this article.
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Financings of Frontline Gold Corp.
9/30/2013Announces Closing of Private Placement
5/30/2013Extends Private Placement
4/17/2013Extends Private Placement
2/22/2013Announces a $500,000 Non-Brokered Private Placement
11/4/2011Announces Private Placement Offering
5/4/2011Announces Private Placement
Option Grants of Frontline Gold Corp.
10/25/2011Announces Stock Option Grant
Nominations of Frontline Gold Corp.
8/26/2011Announces Appointment of Tom Hussey as Board Member
Project news of Frontline Gold Corp.
5/6/2016Frontline announces acquisition of Rainy River Properties St...
4/2/2013(Menderes)Completes 100% Interest in Menderes Turkey Asset
1/30/2013(Menderes)Amends the Terms of Its Option Agreement Regarding the Mende...
4/19/2012highlights planned 2012 Exploration Programs at its Poly and...
2/22/2012(Menderes)Commences Diamond Drill Program on the Menderes Gold Project...
1/12/2012Provides an Update on the 2011 Exploration Programs at the P...
1/4/2012(Menderes)Announces Drill Contract for Menderes Gold Project, Located ...
12/22/2011(Menderes)Makes Option Payment on the Menderes Gold Project, Located i...
11/8/2011Makes Payment on the Poly Project in the Stewart Gold Camp, ...
11/7/2011(Menderes)Receives Drill permit for its Menderes Gold Project, Izmir ...
10/25/2011Provides an Update on the 2011 Exploration Program on the Po...
10/18/2011(Menderes)Expands Exploration Activities at Menderes Gold Project, Izm...
10/13/2011(Niaouleni)intersects 1.76 g/t Au over 8.5 metres and extends the R1 go...
9/28/2011Announces Results from Summer 2011 Prospecting Program on it...
9/22/2011announces the commencement of the 2011 diamond drill program...
8/24/2011Announces Drill Contract for the Poly Project in the Stewart...
5/5/2011Frontline Gold Stewart Camp Property Payments
4/27/2011Stewart Camp Property Payments
4/12/2011Stewart Camp Property Payments
4/1/2011(Menderes)Renames Turkish Gold Project
2/22/2011(Niaouleni)Confirms 4 Gold Structures at Niaouleni and Intersects 21.56...
11/17/2010(Jubilee)TSX Approves Disposition of Jubilee Zinc Lead Project
Corporate news of Frontline Gold Corp.
6/22/2016Frontline announces an increase to the Loan funding to advan...
6/3/2016Frontline JV in suezmax creates fleet of 43 suezmax vessels
5/31/2016Frontline Announces Keban Tailings Assays, (including signif...
5/10/2016Frontline Announces Increase in Keban Tailings Tonnage and P...
4/20/2016Frontline secures funding to advance production at its Kambe...
4/7/2016Frontline Acquires Fully Permitted Keban and Kambertepe Tail...
8/6/2015Frontline Acquires Red Lake Mining Patents Between Goldcorp ...
7/22/2015Frontline Provides Update on its Menderes Gold Project, Plan...
6/24/2015Frontline Options Chukuni Property Along Goldcorp's Red Lake...
5/15/2015Frontline Cancels Stock Options
12/18/2014Frontline Options Baird Property Along Pure Gold's Madsen Go...
12/18/2014Frontline Options Chukuni Property Along Goldcorp's Red Lake...
8/28/2014Frontline Gold - Results of Annual and Special General Meeti...
8/13/2014TSX Venture Exchange Daily Bulletins
5/28/2014IIROC Trading Resumption - FGC
5/21/2014IIROC Trading Halt - FGC
6/7/2013Announces Shares for Debt Agreement for US$200,000
6/7/2013Announces Shares for Debt Agreement for US$200,000
5/29/2013Defending Claim
5/28/2013-Results of Annual and Special General Meeting of Shareholde...
5/28/2013-Results of Annual and Special General Meeting of Shareholde...
3/27/2013Announces Shares for Debt Transaction
3/14/2013Initiates Strategic Review Process
3/13/2013Announces Significant Drill Ready Base-Precious Metal VMS Ta...
3/7/2013Announces Results of 2012 Surveys Completed on the Poly Prop...
12/7/2012Purchases Remaining 10% of Turkish Assets
11/8/2012(Menderes)Announces Discussions Regarding Menderes Turkey Asset
10/2/2012Announces Completion of Phase 1, 2012 Follow-Up Program on t...
7/4/2012Results of the Annual and Special General Meeting of Shareh...
6/5/2012(Menderes)Submits Application for Operating License on the Menderes Pr...
10/18/2011FGC update by Edison Investments
8/23/2011Identifies 2 IP Anomalies from IP/Resistivity Survey
8/17/2011Divests Share Position held in Merrex Gold Inc.
8/17/2011Edison Investment Research report on Frontline Gold
5/19/2011(Niaouleni)New Gold Discovery and Resumption of Diamond Drilling at Nia...
5/5/2011Engages Auburn Partners as Investor Relations Consultants
4/27/2011Stewart Property Payments
4/12/2011Frontline Gold Corp.
2/23/2011Frontline Gold Corporation
2/23/2011-Stock Options
2/23/2011Stock Options
2/22/2011Frontline Gold Corporation
2/11/2011Frontline Gold Corporation
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1/11/2011Frontline Gold Corp.
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11/29/2010Frontline Gold Corporation
11/29/2010Change of Officer
11/29/2010Frontline Gold Corporation
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