| Mill City Terminates Discussions With Vendor of Indonesian Project; Company to Focus on Mining Sector | |
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CALGARY, ALBERTA--(Marketwired - May 13, 2014) - MILL CITY GOLD CORP. ("Mill City" and/or the "Company")(TSX VENTURE:MC)(MCYGF)(FRANKFURT:NJ6) announced today that the Company will not be proceeding with an agreement to purchase up to a 75% interest in the North East Tanjung Block, an onshore oil and gas concession located in Indonesia. The vendor of the Indonesian project has been unable to raise the required funds to complete the reverse takeover. The details of the acquisition were previously outlined in the Company's news release dated February 13, 2014. Mill City management has determined it is in the best interest of the Company and its shareholders to focus on the mining sector. Jim Brown, Mill City President, comments, "We are very encouraged by the quality of precious metals projects that are available to us at a small fraction of the capital previously invested in their development by other companies. Therefore, we are taking the steps necessary to acquire and finance one or more of these opportunities for our stakeholders." Although management continues to investigate several such opportunities, no definitive negotiations or agreements have yet to occur. About Mill City Gold Corp. Mill City Gold Corp. is a TSX Venture Exchange listed exploration company that is focused on identifying and acquiring advanced precious metals projects in the most favorable jurisdictions around the world. For further information please visit the Company's website at www.millcitygold.com. ON BEHALF OF THE BOARD OF DIRECTORS James R. Brown, Chairman, President & CEO The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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Mill City Gold Corp
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EXPLORATEUR |
CODE : MC.V |
ISIN : CA5998052073 |
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Mill City Gold est une société d’exploration minière d'or basée au Canada. Mill City Gold détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont SOUTHERN STAR EAGLE, CROXALL, NORTHERN STAR EAGLE et GP2 au Canada. Mill City Gold est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 17,1 millions CA$ (12,7 millions US$, 11,2 millions €). La valeur de son action a atteint son plus haut niveau récent le 05 novembre 2010 à 1,87 CA$, et son plus bas niveau récent le 25 octobre 2013 à 0,01 CA$. Mill City Gold possède 89 939 000 actions en circulation. |