VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 27, 2014) - Duncastle Gold Corp. ("Duncastle" or the "Company") (TSX VENTURE:DUN) announced today that it has signed a property purchase agreement (the "Agreement") with Ashburton Ventures Inc. ("Ashburton") (TSX VENTURE:ABR) to acquire the CKR mineral property per the binding Letter of Intent announced June 23, 2014 (the "LOI").
By the terms of the Agreement, Duncastle will issue 350,000 shares to acquire 100% ownership of 304 mineral claims totaling over 95 square kilometers in the Southwest Yukon, several of which adjoin Wellgreen Platinum's world-class PGM-Ni-Cu Wellgreen deposit. The Agreement, and the issuance of shares per the Agreement, are subject to acceptance of the TSX Venture Exchange.
The CKR property is the first of four properties to be acquired under the LOI. Work is underway on acquiring the remaining three and completing the remaining terms of the LOI.
Duncastle also announced it has signed a letter agreement with Ashburton and Denali Resources Ltd. to extend the deadline for completion of a formal agreement per the LOI to September 30, 2014.
More information is available on the Company's website at http://duncastlegoldcorp.com.
On behalf of the Board of Directors,
Michael Rowley, President, Director, Duncastle Gold Corp.
For further information, please visit the company's website at duncastlegoldcorp.com.
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Duncastle Gold Corp. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
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.