Klondike Gold Receives $0.5 Million Royalty Payment for 2015
Vancouver, British Columbia (FSCwire) - Klondike Gold Corp. (“Klondike Gold” or the “Company”) (TSX.V:KG) is pleased to report receipt of $526,994 from the sale of placer gold relating to a production royalty from Klondike Gold’s “McKinnon Creek” placer property.
The McKinnon Creek placer property is currently leased to Jerusalem Mining LLC (“Jerusalem Mining”) in return for a 20% production royalty. The leased McKinnon Creek property is a small parcel within Klondike Gold’s 7 kilometers long by 2 kilometer wide “Indian River” property. These properties are owned 100% by Klondike Gold. More details can be found on Klondike Gold’s website HERE.
A total cash amount of $526,994 has been received by Klondike Gold due from the 2015 production royalty. This amount is net of Yukon production taxes, payment of an underlying 5% royalty to 19651 Yukon Inc., processing, fees, and other charges.
Peter Tallman, President of Klondike Gold states “The non-core Indian River placer asset has been turned around in the past two years into a cash-generating property with significant and increasing revenues of $0.5 million in 2015, following $0.2 million in 2014. Leasing Indian River has allowed the Company to focus on making significant bedrock gold discoveries on its core quartz claims underlying the western half of the Klondike goldfields.”
The technical and scientific information contained within this news release has been reviewed and approved by Peter Tallman, P.Geo, President and CEO of Klondike Gold Corp., and Qualified Person as defined by National Instrument 43-101 policy.
ABOUT KLONDIKE GOLD CORP.
Klondike Gold Corp. is a Canadian exploration company with offices in Vancouver, British Columbia, and Dawson City, Yukon Territory. The company is focused on exploration and development of its road accessible Yukon gold projects located on the outskirts of Dawson City, YT in the historic Klondike region covering 25,000 hectares of hard rock and 2,000 hectares of placer claims including “McKinnon Creek” leased to Todd Hoffman/Jerusalem Mining LLC and featured on the Discovery Channel show “Gold Rush”.
On behalf of Klondike Gold Corp.
“Peter Tallman”
President and CEO
(604) 559-4440
E-mail: info@klondikegoldcorp.com
Website: www.klondikegoldcorp.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.
Disclaimer for Forward-Looking Information
“This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Klondike in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Klondike’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon. Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Klondike disclaims any obligation to update or revise any forward-looking information or statements except as may be required.”
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/klondike11032015.pdf
Source: Klondike Gold Corp. (TSX Venture:KG)
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