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Message: Announces the Signing of a USD Two Million Dollar Exploration Option Agreement
| May 19, 2009 |
| Trio Gold Corp. Announces the Signing of a USD Two Million Dollar Exploration Option Agreement |
| CALGARY, ALBERTA--(Marketwire - May 19, 2009) - Trio Gold Corp. ("Trio") (TSX VENTURE:TGK) (PINK SHEETS:TROOF) has signed a USD $2,000,000.00 Option Agreement with Coastal Pacific Mining Corp. ("CPM") to explore Trio's wholly owned twenty-nine claim Rodeo Creek property ("Property"), located at the north end of the renowned Carlin Gold Trend in Elko County, Nevada. CPM is a public trading company with stock symbol CPMCF. Under the terms of the agreement CPM has until July 15th, 2009, to complete their due diligence and provide USD $1,000,000 for drilling on the property. CPM may earn up to a 45% interest in the Property by spending an additional $1,000,000.00 on or before July 15th, 2010. CPM has the option to carry Trio to bankable feasibility for an additional 30% interest. Trio will receive 300,000 CPM common shares provided CPM exercises its option. Trio will be the operator on the project. The Carlin Trend is the most prolific gold-producing area in North America, and hosts as many as thirty gold producing mines and development projects, on which more than 100 million ounces of gold production and inventory have been identified, including world class deposits such as the Goldstrike, Meikle and Carlin mines. The Rodeo Creek property is located 1.5 kilometres northwest of Barrick's Storm deposit. Trio's property exhibits geological and alteration features common to all deposits on the Carlin Trend. Five geochemically anomalous target areas have already been identified, and these are expected to be drill-tested this year and next. Trio is optimistic that the proposed exploration budget could result in a significant gold discovery. Mr. Ian Berzins, P.Eng., due to time constraints and other business duties has resigned from the board. Mr. Berzins services were very helpful to Trio, and the Company wishes to thank him for his valuable input. We wish him well in his new undertaking. |
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