AGE-V
Adventure Gold and GFK Resources Sign a $12.7 Million Agreement on the Casa-Cameron Project
MONTREAL, QUEBEC--(Marketwired - Dec. 12, 2013) - Adventure Gold Inc. (TSX VENTURE:AGE) (the "Company") announces that it has entered into an option agreement (the "Agreement") with GFK Resources Inc. ("GFK"), a Nova Scotia-based mining exploration company listed on the TSX Venture Exchange (the "Exchange") under the trading symbol "GFK". Under the terms of the Agreement, GFK has acquired an exclusive option to earn between 51% and 100% interest in 446 claims covering an area of 22,189 hectares or 222 km² known as AGE's Casa-Cameron project (the "Project") for exploration expenditures and payments totalling up to $12,740,000. Firm commitment includes a minimum of $1,500,000 in exploration expenditures, $250,000 in cash and 2,000,000 shares of GFK issued to AGE. The Project includes nine (9) properties strategically located along the prolific Casa-Berardi/Cameron Gold Trend, in the Abitibi Greenstone Belt, Quebec.
"Adventure Gold is very pleased to start a new partnership with GFK Resources to explore and develop the Casa-Cameron properties. We have already identified quality drilling targets on all the properties and we are very excited to start an initial 3,000-metre drilling program scheduled for early 2014. The option of this project is part of Adventure Gold's continued strategy to share the risk related to mining exploration on certain assets. The Company still own 100% of the rights in the Detour Quebec and Val-d'Or East flagship projects and intends to resume the exploration work on both projects in 2014" stated Mr. Marco Gagnon, President and CEO of Adventure Gold.
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