Mining News: Threegold (TSXV:THG.V) to Acquire 100% Interest in the Mont-de-l’Aigle Project

October 12, 2011 8:04 AM10 commentsViews: 17

Mining News: Threegold (TSXV:THG.V) to Acquire 100% Interest in the Mont-de-l'Aigle Project

VAL-D’OR, QUEBEC eMediaWorld Reports Threegold Resources Inc. (TSXV:THG.V) is pleased to announce that its agreement with Ressources Appalaches (APP: TSXV) has been amended to allow the Company to increase its interest in the Mont-de-l’Aigle Project. According to the new terms announced October 12, 2011, Threegold now has the option to earn a 100% interest in the project by making a $300,000 payment and by issuing 1,500,000 common shares of the company in three (3) installments.

According to the original terms (see press release of January 17, 2007), the company was required to incur $2M in exploration over 5 years to earn a 50% interest in the project. The Company is currently in the 5th year of the original agreement and roughly $350,000 remained to be spent to fulfill the option. The amended agreement will now allow Threegold to earn a 100% interest in the project by making an additional cash payment of $300,000 and by issuing 1,500,000 common shares of the company in three (3) installments: the first upon signing, the second at six (6) months, and the third at twelve (12) months.

Each installment of shares shall be subject to a 6-month hold period.

The Mont-de-l’Aigle Project is located in eastern Quebec on the Gaspe Peninsula and consists of 178 claims covering 57.8 km2. The property is host to numerous historical mineral occurrences and advanced exploration sites, such as Pardiac, Hattie, Eagle-Gaspesie, Frenette, Calvert and Rio Breccia.

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Contacts

President and CEO
Mr. Victor Goncalves
Threegold Resources Inc.
(204) 997-5517
info@threegold.ca

Vice President Exploration
Mr. Antoine Fournier, P. Geo.
Threegold Resources Inc.
(819) 825-3883
info@threegold.ca
www.threegold.ca

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