Golden Share Announces Update Regarding "Ring of Fire" Progress
TORONTO, ON / ACCESSWIRE / August 22, 2016 / Golden Share Mining Corp. (TSXV: GSH) (the "Company" or "Golden Share") is pleased to announce that with its facilitation efforts, China Railway Fist Survey & Design Institute Group Co., Ltd. ("FSDI") have entered a Framework Strategic Cooperation Agreement with KWG Resources Inc. Pursuant to the Strategic Cooperation Agreement, FSDI and KWG have also executed a Conditional Bankable Feasibility Study Consultation Service Agreement ("BFSCS"). Under terms of the BFSCS, the parties have agreed on the deliverables and timetable for FSDI to complete a Conditional Bankable Feasibility Study of a commercial railroad line linking Ontario's "Ring of Fire" mineral belt to a junction with the CN Railroad line at Exton, Ontario. (Please see KWG Press Release #243 dated on August 22, 2016).
The terms of the Service Agreement executed between Golden Share and Canada Chrome Corporation, a subsidiary of KWG Resources Inc. provide for a Success Fee and Freight Royalty if Golden Share's services result in the construction of a railroad. Upon substantial completion of such construction, Golden Share will be entitled to 1% of total construction expenditures as a Success Fee plus 1.5% of freight revenue as Freight Royalty, payable quarterly. Golden Share will carry out this Service Agreement on a "best efforts" basis. (Please refer the Golden Share Press Release dated on November 24, 2015).
About Golden Share
Golden Share Mining Corp. is a Canadian junior mining company focusing on exploration in the province of Ontario, a politically stable jurisdiction with a long history mineral exploration and development.
FOR MORE INFORMATION, CONSULT http://www.goldenshare.ca OR CONTACT:
Golden Share Mining Corporation
Nick Zeng, President & CEO
Tel: (905) 968-1199
E-mail: info@goldenshare.ca
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.
SOURCE: Golden Share Mining Corp.
