Amador Gold Corp. (TSX-V:AGX) is pleased to announce the acquisition of the Cummings property, consisting of six patented leases located in Jamieson Township, Porcupine Mining Division, Ontario. The Cummings property is located 20 km northwest of Timmins, Ontario, in the heart of the Kamiskotia volcanogenic massive sulphide (zinc, copper and silver) camp. The property has been held for 21 years by one party and has received limited work during this period. Amador plans to fly a state-of-the-art VTEM airborne survey over the property to identify potential massive sulphides at depths in the earth below the level that historical surveys could penetrate. Consideration for the property consists of $60,000. There is also a 2% NSR, half of which may be purchased for $500,000 and the balance for an additional $500,000.
The Company also wishes to announce its continuation with a private placement previously announced on March 2, 2009 for up to 5,000,000 units. The financing consists of units priced at $0.06. Each of the units consists of one flow through common share and one non-flow through, non-transferable share purchase warrant entitling the holder to purchase one additional common share for a period of two years at a price of $0.06 per share in the first year and $0.10 per share in the second year.
In accordance with Exchange policies, finders' fees may be paid on the funds raised. The private placement is subject to regulatory approval.
The proceeds of the private placement will be used for exploration on the Company’s Ontario properties.
About Amador Gold
Amador Gold Corp. holds a portfolio of mineral projects in mining-friendly Ontario, led by its flagship Loveland Gold Project near Timmins, where exploration and drilling programs currently underway are focused on gold and nickel-copper deposits. The Kell property has similar silver-cobalt-mineralization as the nearby historic Gowganda region, where approximately 60 million ounces of silver were mined in the early 1900s. Other Ontario projects with good exploration potential include the Horwood gold property, the Maskooch gold property, the Fripp nickel property and the Dale gold property.
Contact Information
Corporate Inquiries: Alan Campbell or Kevin Hull, Investor Relations
Phone: (604) 685-2222
Email: info@amadorgold.com
Website: www.amadorgoldcorp.com
