MOUNT PEARL, Newfoundland, August 21, 2013 - (ACCESSWIRE) - KAT Gold Holdings Corp. (OTCQB: BVIG) http://www.katexploration.com/
"KAT Gold Holdings Corp" is pleased to announce that it has signed an Agreement with Eureka Mining LLC, for the purchase of its Cracker Creek gold mining operation located in Sumpter Oregon known as the "Cracker Creek Mine," consisting of approximately 19 acres designated as T9S R37E, Sec 29B, Baker County, Oregon as well as all mining rights associated with said land, including an existing Mining Plant, on-site Accommodations, a Conex storage facility, Machinery, Tools, Equipment and Vehicles, all as currently existing upon the Property.
The total buyout of $6.5 million for the Cracker Creek mine will take place with Kat Gold Holdings making five equal payments over a 24 month period with first payment due on or before November 12, 2013.
Kat Gold Holdings has engaged the interest of several investment groups to provide funding for the buyout and working capital. Upon first tranche and payment toward the buyout, all revenues produced from the mine will be owned by Kat Gold Holdings Corp which will cover all operating cost and provide funding for other acquisitions.
Ken Stead, CEO, comments that: "This is the kind of operation that will move us forward and provide a solid foundation to build the company for years to come. It's been a while in the making but should prove to be a real benefit for both the company and its shareholders."
The attached link pertains to just one of many reports on file from the mining operation. All other reports and data will be reserved for interested investment groups.
As progress develops with financing and onsite operations, we will update shareholders and the public alike.
This release includes forward-looking statements on our current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and include statements regarding our anticipated gold production, our expected growth and our ability to compete within the African gold mining industry. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in our forward-looking statements include, among others, a failure of our new mine to produce the anticipated quantity of gold, our failure to obtain the necessary funding to conduct our anticipated operations, our ability to successfully integrate the new management and other factors described in our report on Form 10-K and any other filings with the SEC. The information in this release is provided only as of the date of this release, with no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
President & CEO KAT Gold Holdings Corp. (BVIG)
SOURCE: KAT Gold Holdings Corp.
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