| AM Gold (AMG-V) Sept 25, '14 issued Rokmaster Resources (RKR-V) a notice of default under the Pinaya option and joint venture agreement, dated effective July 16, 2012, as amended effective Sept. 11, 2013, among the company, the company's wholly owned Peruvian subsidiary and Rokmaster. AM Gold issued the notice of default as Rokmaster failed to remit a cash option payment to AM Gold in the amount of $400,000 and incur a further $1.5-million in exploration expenditures. Such cash payment and exploration expenditures were required to be paid/incurred on or before Sept. 11, 2014. Rokmaster has until Oct. 24, 2014, to cure the default. If such default is not cured on or before Oct. 24, 2014, AM Gold may immediately terminate the agreement. AM Gold will issue a further news release when updates on this matter are available. |
