Suche
 
Folgen Sie uns auf:

Estrella Provides a Corporate Update

30.05.2013  |  Marketwired

- Cost reductions


- Current JV projects active


- New project search continues


- AGM completed & options granted


VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/30/13 -- Estrella Gold Corporation (TSX VENTURE: EST) ("Estrella" or the "Company") reports that it is moving ahead with project exploration and the search for new projects. Estrella has also implemented an ongoing program of operating cost reductions through reductions in administration costs and property holding costs. The Company is now looking forward to focusing on moving its projects ahead which are under option or joint venture agreements (4 properties) and acquiring new projects to advance and option out to third parties for exploration.


Estrellla's team in Peru, led by Mr. John Wilson, President and CEO, has recently met with our JV partners - Cliffs Natural Resources Exploration Inc. (Yanac Project), Mines Management, Inc. (La Estrella Project) and Lara Exploration Ltd. (Isy Project). Mr. Wilson has been in contact with partner Esperanza Resources Corporation (Pucarana Project).



-- Exploration work is planned for the Yanac Project and will be funded by
Cliffs. Further updates will be provided in the coming months as
exploration progresses. Cliffs and the Company formed a 50-50 JV in
February 2013 and Cliffs must spend a firm commitment of US$500,000 in
year one on exploration or pay the same amount to the Company, with an
additional work or payment amount of US$250,000 required to maintain
Cliffs' interest beyond year one.

-- The La Estrella Project funded by Mines Management will continue
exploration for a second year. Mines Management is currently awaiting
permits to accommodate an expanded area for drilling. The year 2
expenditure requirement is US$500,000 as part of a total of US$5 million
to be spent on exploration and US$600,000 in cash payments to be made,
along with the preparation of a preliminary economic assessment on a
defined resource, to earn a 75% interest in the project by March 4,
2016. Per the agreement, Estrella's 25% interest is carried to
production with proportionate costs paid back to Mines Management from
production profits.

-- Estrella's Isy project makes up a part of the Sami Project owned by Lara
Exploration. Lara Exploration has an option to purchase the Isy claims
from Estrella by paying US$80,000 (paid) and US$175,000 over the next
two years, and issuing 50,000 shares to Estrella. Estrella will also
receive a 1.5% NSR on the project.

-- Esperanza's (60%) Joint Venture with Estrella (40%) on the Pucarana
Project is approximately 7 kilometers from Buenaventura's high-grade
underground Chipmo Mine and 15 km from the Poracota mine which has
become one of the largest gold producers in South America. Estrella is
currently in the process of finalizing a 60-40 joint venture agreement
with Esperanza on the Pucarana project.


The geological team in Peru is also active in looking for new projects to acquire as companies drop projects due to lack of financing and good properties become less expensive to acquire.


Further updates on the exploration programs and results, property acquisitions and dispositions, and options agreements will be provided as they are completed.


After the Annual General Meeting yesterday morning, Mr. John Wilson (Geologist) was re-appointed as the President and CEO and Ms. Winnie Wong (Chartered Accountant) was re-appointed as the Chief Financial Officer and Corporate Secretary. The directors were appointed as expected with Mr. Greg Harris, Chairman, (Lawyer), Mr. Don Taylor (Geologist), Mr. Mark Brown (Financier), and Mr. Fernando Pickmann (Peruvian Lawyer) being re-appointed and Mr. Wilson be appointed as a new director.


The shareholders also approved changing the Company's 20% fixed stock option plan to a 10% rolling stock option plan which limits and reduces the number of stock options to 10% of the outstanding common shares from the old 20% amount.


The Board of Directors also approved the grant of 1,455,000 stock options to directors, officers, employees and consultants of the Company which allow the holders the right to purchase a common share of the Company at a price of $0.08 per share no later than May 29, 2017 or for 4 years from the date of the grant.


About Estrella Gold Corporation (TSX VENTURE: EST) - Mineral exploration is inherently risky and Estrella increases the chances of success as a "Prospect Generator" focused on gold exploration in Latin America. Estrella identifies and acquires new mineral properties, conducts initial, low-cost exploration to define a potential new deposit and then forms joint ventures with other companies that will provide funding for more advanced exploration. Estrella has several active exploration properties in Peru, with four held in venture agreements. The Company has 31.6 million shares issued and outstanding, and is listed on the TSX Venture Exchange (TSX VENTURE: EST).


To learn more visit: www.estrellagold.com


STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.


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.

Contacts:

Estrella Gold Corporation

John R. Wilson

President and CEO

(604) 687-3520


Estrella Gold Corporation

Sandrine Lam

Shareholder Communications

(604) 687-3520

(888) 889-4874 (FAX)
www.estrellagold.com


Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!




Mineninfo
Estrella Gold Corp.
Bergbau
-
-
Minenprofile
Alle Angaben ohne Gewähr! Copyright © by GoldSeiten.de 1999-2024.
Die Reproduktion, Modifikation oder Verwendung der Inhalte ganz oder teilweise ohne schriftliche Genehmigung ist untersagt!

"Wir weisen Sie ausdrücklich auf unser virtuelles Hausrecht hin!"