Jan 20, 2010 09:30 ET
GoldTrain to Acquire Additional Exploration Property in Missinabie and Appoints New Vice-President Exploration
TORONTO, ONTARIO--(Marketwire - Jan.20, 2010) - GoldTrain Resources Inc. ("GoldTrain" or the "Company")(CNSX:GT) is pleased to announce that it has entered into an agreementto acquire a 100% interest in a 96 hectare mining claim in LeesonTownship located east-southeast of the former Renabie Gold Mine and inproximity to the Company's other claims in the Missinabie area ofnorth-central Ontario.
GoldTrain has agreed to pay $10,000 in cash over 20 months andissue 350,000 shares to the arm's-length vendors. The vendors willretain a 3% net smelter returns royalty, two thirds of which can bepurchased for $2,000,000.
The Company is also pleased to announce the appointment of JoergKleinboeck, P.Geo., as Vice President, Exploration. Mr. Kleinboeck is agraduate of Laurentian University in Sudbury, receiving a B.Sc. inGeology in 2000, and is a member of the Association of ProfessionalGeoscientists of Ontario. Over the past 10 years Mr. Kleinboeck hasworked for a number of mineral exploration companies with explorationprojects in northern Ontario, most recently as Vice President,Exploration of Fletcher Nickel Inc.
The Company also announces the granting of stock options to variousofficers, directors and consultants pursuant to the Company's stockoption plan. Options on 1,700,000 shares were granted, each with anexercise price of
.12 and a term of five years.
GoldTrain is exploring for gold and base metals in Ontario. Foradditional information about GoldTrain and its mineral properties,please visit the Company's regulatory filings at www.sedar.com or at www.cnsx.ca.
This release was prepared by management of the Company who take full responsibility for its contents.
Forward Looking Information: This news release may contain or referto forward-looking information. All information other than statementsof historical fact that address activities, events or developments thatGoldTrain believes, expects or anticipates will or may occur in thefuture are forward-looking statements. These forward-looking statementsare subject to a variety of risks and uncertainties beyond GoldTrain'sability to control or predict that may cause actual events or resultsto differ materially from those discussed in such forward-lookingstatements. Any forward-looking statement, speaks only as of the dateon which it is made and, except as may be required by applicablesecurities laws, GoldTrain disclaims any intent or obligation to updateany forward-looking statement, whether as a result of new information,future events or results or otherwise. Although GoldTrain believes thatthe assumptions inherent in the forward-looking statements arereasonable, forward-looking statements are not guarantees of futureperformance and, accordingly, undue reliance should not be placed onthese forward-looking statements due to the inherent uncertaintytherein.
For more information, please contact
GoldTrain Resources Inc.
Mr. Brian Wright
President and CEO
(705) 976-0216 |
