Hawthorne Gold Completes Purchase of Taurus Gold Deposit at Cassiar Gold Camp
Tue Jan 6, 9:15 AM
ca.news.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 6, 2009) - Hawthorne Gold Corp. ("Hawthorne" or the "Company") (TSX VENTURE: HGC.V), further to the Company's news release on December 23, 2008, Hawthorne is pleased to announce that it has received regulatory approval for the agreement (the "Acquisition Agreement") with American Bonanza Gold Corp. ("Bonanza") to acquire a further 70% interest in the Taurus gold deposit (the "Property"). Taking into account this transaction, Hawthorne now owns a 100% interest in the Property.
Pursuant to the terms of the Acquisition Agreement, the Company issued 6,750,000 common shares to Bonanza (the "Hawthorne Shares"), representing 12.7% of the outstanding shares of Hawthorne. The Hawthorne Shares are subject to a statutory hold period expiring on April 30, 2009.
About Hawthorne Gold Corp.
Hawthorne Gold Corp. is a Canadian-based gold exploration and development company with key properties located in British Columbia, Canada. Hawthorne is led by well-respected mining leaders Richard Barclay and Michael Beley. Hawthorne's goal is to become a junior gold producer by working towards production at Table Mountain in 2009 and continued resource development at the nearby Taurus deposit, as well as the Frasergold deposit in the Cariboo region of south central British Columbia.
ON BEHALF OF HAWTHORNE GOLD CORP.
Richard J. Barclay, President & CEO
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts
Todd Hanas
Hawthorne Gold Corp.
Toll Free: 1-866-869-8072
(604) 629-1505 or Toll Free: 1-888-629-1505
Hawthorne Gold Corp.
(604) 629-0923 (FAX)
Website: www.hawthornegold.com |
