Novus Gold Corp. Options Two B.C. Gold Properties
13.10.2011 | Presse Minen
October 13, 2011 - Novus Gold Corp. (TSX-V:NOV, "Novus") announces that it has entered into two option agreements with a private B.C. company pursuant to which Novus may earn up to a 50% interest in each of the GP Property and PC Property (collectively "the Properties").The Properties are gold-silver epithermal-style exploration targets that cover prospective stratigraphy in the southern Spences Bridge Gold Belt, a 110 km northwest-trending belt of felsic to intermediate volcanic rocks of the Cretaceous Spences Bridge group. The GP Property consists of 1,916.04 hectares and the PC Property consists of 2,452.31 hectares.
Novus must incur $112,500 of exploration expenditures on each property on or before October 12, 2012 in order to earn a 50% interest in that respective property.
Technical information in this news release has been prepared by Mike Magrum, P.Eng., a Qualified Person as defined in NI 43-101.
For further information visit the company's website at www.novusgold.com or contact Gunther Roehlig, Director, at 604-683-0911.
On behalf of the board of directors of NOVUS GOLD CORP.
"Mike Magrum"
Mike Magrum, President & CEO
Neither the 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 news release.
This News Release contains forward-looking statements
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While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
