Toronto, ON / ACCESSWIRE / August 28, 2014 / Stakeholder Gold Corp. (TSXV: SRC) ("Stakeholder" or the "Company") is pleased to announce that it has signed an amendment to its option agreement with Cogonov Inc. on the Bass River IOCG exploration project (the "Bass River Project"). The amendment was first referenced in a press release dated May 15, 2014, and increases Stakeholder's right to earn an interest in the Bass River Project from 51% to 70%.
On January 22, 2014 and March 31, 2014, Stakeholder announced that it had secured the right to earn a 51% interest in the Bass River Project by making certain expenditures and work commitments. Stakeholder can expand its interest in the project to 70%, after earning its initial 51%, by spending a further $4M on Project exploration over 24 months, by making a cash payment of $1M to Cogonov Inc. within 6 months of earning the 51% interest, and by making share payments totaling 2,000,000 common shares of Stakeholder. The common shares are issued in tranches of 500,000 common shares, beginning on signing and issued at the next three annual anniversaries thereof.
This amendment to the option agreement, and the share issuances, are subject to TSX Venture Exchange approval.
Neither the TSX Venture Exchange (the "TSXV") nor it's Regulation Services Provider (as that term is defined in the policies of the TSXV) has reviewed, nor do they accept responsibility for the adequacy or accuracy of, this release.
For more information, please contact
Christopher J. Berlet, CFA
President & CEO
Stakeholder Gold Corporation
416 525-6869
[email protected]
SOURCE: Stakeholder Gold Corp.