1911 Gold Corporation (TSXV: AUMB) ("1911 Gold" or the "Company") is pleased to announce that it has, through a wholly-owned subsidiary, 1911 Gold Canada Corporation ("1911 Gold Canada"), entered into an arms' length agreement to acquire three additional claims, totaling approximately 230 hectares, on the Rice Lake belt in Manitoba, Canada.
Image: A gold rock. Photo: courtesy of PHGCOM/Wikipedia.org.
These claims are located within the boundaries of the Company’s mineral dispositions and afford an opportunity to further consolidate its land position along this highly prospective greenstone belt. Each of the claims contains historical gold occurrences and their acquisition will allow 1911 Gold to expand their current exploration activities in two key project areas.
Under the terms of the purchase agreement 1911 Gold will issue 150,000 shares for consideration of $45,000, based on the closing date of the agreement, to the private owner of these claims. The acquisition is subject to TSX Venture Exchange approval.
Source: Company Press Release