Everton Terminates Agreement for the Sale of Shoal Lake Gold Properties to Kaskattama Inc.
23.03.2012 | Marketwired
OTTAWA, ONTARIO -- (Marketwire) -- 03/23/12 -- Everton Resources Inc. ("Everton" or the "Company") (TSX VENTURE: EVR) (FRANKFURT: ERV) (OTCQX: EVRRF), announces that the share purchase agreement dated February 22, 2011, as amended, with Kaskattama Inc. ("Kaskattama") has been terminated. Under the terms of agreement, Kaskattama was granted the right to acquire the Shoal Lake properties for the price of CAD$2 million and 14 million shares (See Everton's press release dated September 29, 2010 for more information on the transaction with Kaskattama).About Everton Resources Inc.
Everton Resources and Brigus Gold Inc., Everton's exploration partner in the Dominican Republic, have reached an agreement whereby Everton will acquire 100% ownership of Brigus' remaining interest in the Ampliacion Pueblo Viejo II ("APV"), Ponton and La Cueva concessions in the Dominican Republic. Everton is actively exploring adjacent to the US$3.8 billion Pueblo Viejo project, currently being developed by the world's largest gold mining company, Barrick Gold Corporation (60%) in partnership with Goldcorp Inc. (40%) ("Goldcorp") (NYSE: GG) (TSX: G). Planned divestiture of its 100%-owned subsidiary Hays Lake Gold containing the Shoal Lake Gold Project in Kenora, Ontario is expected to provide internal funding to advance the Ampliacion Pueblo Viejo project. Everton also holds an interest in the Opinaca region of James Bay, Quebec where the Company has partnered with Aurizon Mines Ltd. who is advancing Everton's interest by funding 100% of all exploration work on one of the largest land packages adjacent to Goldcorp's Eleonore gold deposit.
For further information on Everton Resources Inc please visit www.evertonresources.com.
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 release.
Contacts:
Andre Audet, Chairman and CEO
613-241-2332
613-241-8632 (FAX)
andre@evertonresources.com
www.evertonresources.com
