Developing Processes For The Low-Cost Manufacturing Of High Purity Silicon Metals For Next-Generation Lithium-ion Batteries
Achieved final critical milestones, completing a successful silicon pour
Message: NR - Uragold Completes a Critical Threshold With the Closing of the Acquisition
Your Vote:
Did you know?
You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)
NR here
November 13, 2012 09:45 ET
Uragold Completes a Critical Threshold With the Closing of the Acquisition of the Beauce Placer Gold Properties
MONTREAL, QUEBEC--(Marketwire - Nov. 13, 2012) - Uragold Bay Resources Inc. ("Uragold") (TSX VENTURE:UBR), is pleased to announce that it has finally signed with the Vendor, the required Deed-Of-Sale to complete the purchase of 7 real-estate properties in the municipality of Saint-Simon-les-Mines located in the Beauce region of southern Quebec. The signing of the Deed of Sale completes a transaction first announced last year on September 8, 2011.
| Cadastral Lots | Location (Range) | Land Area (Acres) |
| 3629423, 3629484, 3810447, 3810448 | Rang Chaussegros | 124 |
| 3629375, 3812210 | Rang De Lery | 45 |
| 3629179 | Rang St-Charles | 9 |
The terms of the agreement to purchase 178 acres of real estate have remained the same. Uragold was ready to close the transaction since January 2012, when the funds required to complete the transaction, were placed in escrow with a Notary. The closing of the transaction was delayed by a change of control of the Vendor.
The lots acquired cover significant sections of the historical Beauce placer gold channel. They were all once owned by the Beauce Placer Mining Company, a major placer gold mining company in the 1960s. From 1960 to 1962, the company mined 56,000 oz of gold from a small section on the eastern end of the Rang Chaussegros. Uragold holds minerals rights over all Rang Chaussegros lots. Furthermore, the acquisition also provides Uragold a controlling interest over significant western sections of the historical placer gold channel.
With this critical threshold now behind us, the Company's goal of starting a gold mining operation on the Rang Chaussegros of the Beauce Placer Gold property is one step closer to becoming reality. Uragold will soon provide an update on the permitting process.
About Uragold Bay Resources Inc.
Uragold Bay Resources is a junior exploration company trading on the TSX Venture under the symbol UBR. Uragold holds gold properties in Southern Quebec's Appalachian belt. Uragold's business model focuses on developing small scale low-cost mining operations for their cash flow generating potential while simultaneously exploring core properties that hold the potential for the discovery of blue sky gold deposits like the MacDonald project.
Shares outstanding: 44,184,327
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Loading...
Loading...
New Message
Please
login
to post a reply