VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / April 30, 2014 / Goldrush Resources Ltd. (TSX-V: GOD) ("Goldrush" or the "Company") announces that it has sold its Pompoi exploration permit and the rights to the adjoining Banguiou exploration permit application for a consideration of CDN$435,000 and a fixed net smelter return royalty of 1.5% on gold sold from the Pompoi and Banguiou permit for a period of 15 years. The royalty may be repurchased at anytime for a cash consideration of CDN$1,500,000. Both the permit and permit application are located on the Hounde greenstone belt in Burkina Faso.
Commented Len Brownlie, President and CEO of Goldrush:" With the continuing difficult market for junior exploration companies, we are pleased that we were able to increase Goldrush's treasury without dilution of our existing shareholders while retaining some upside potential should the permits develop into an economic deposit."
For further information on Goldrush Resources Ltd., shareholders and other interested parties are invited to visit the Company's website at www.goldrushresources.ca.
ON BEHALF OF THE BOARD OF DIRECTORS,
GOLDRUSH RESOURCES LTD.
Len Brownlie - President and Chief Executive Officer
Len Brownlie, President and CEO: [email protected]
About Goldrush: Goldrush is a Canadian mineral exploration company, focused on gold exploration in Burkina Faso, West Africa.
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's plans with respect to exploration and development, future financings, the sale or joint venture of some of the Company's exploration permits and the consolidation of the Company's share capital. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Goldrush Resources Ltd.