Welcome To The Trio Gold Corp HUB On AGORACOM

Edit this title from the Fast Facts Section

Message: Grants an Extension to Case Financial Inc.

Grants an Extension to Case Financial Inc.

posted on Jan 28, 2009 08:02AM
January 28, 2009
Trio Gold Corp. Grants an Extension to Case Financial Inc.

CALGARY, ALBERTA--(Marketwire - Jan. 28, 2009) - Trio Gold Corp. ("Trio") (TSX VENTURE:TGK) (PINK SHEETS:TROOF) and Case Financial Inc. ("Case") have agreed to amend their June 2nd, 2008 Exploration Agreement, whereby Case is to provide funding to explore Trio's wholly-owned Rodeo Creek property located on the prolific Carlin Trend of northern Nevada.

Under the initial terms of the agreement Case was to provide a total of US$1,000,000.00 before the end of 2008 and a further US$2,000,000.00 in 2009 to earn a 2% Net Smelter Royalty ("NSR"). Case could earn a 70% working interest in the property by spending a total of US$4,000,000.00 before the end of 2010, unless it elects not to participate in further costs, in which case it will earn only a 3% NSR. In addition Case issued to Trio 250,000 common shares on signing, and will issue 500,000 shares on April 1, 2009 and 250,000 on April 1, 2010. Trio and Case have agreed to amend the Exploration Agreement as follows:

1. Trio grants Case an extension until March 31, 2009 to complete its first one million dollar funding.

2. Case will then provide another one million dollars on or before August 31, 2009, with an additional one million dollars on or before December 31, 2009, for a total funding of $3,000,000.00 for 2009.

3. Trio has received 250,000 shares of Case as consideration for the time extension.

4. All other terms of the Exploration Agreement remain in effect.

Management took into consideration the current market conditions, and believes that this extension is in the best interest of Trio's shareholders.

The Carlin Trend is the most prolific gold area in North America, and hosts as many as thirty gold producing mines and development projects, on which over 100 million ounces of gold production and inventory have been identified to date. The Rodeo Creek property is located 1.5 kilometers 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 the drill program planned for this year will test a number of these. The Company is confident that this drill program could potentially result in a gold discovery.


Trio Gold Corp.
Mr. Harry Ruskowsky
President & CEO
(403) 262-9640


Trio Gold Corp.
Suite 145, 251 Midpark Blvd. S.E.
Calgary, Alberta T2X-1S3
(403) 262-9640
Fax: (403) 262-9759
Email: [email protected]
Website: www.triogold.com

New Message
Please login to post a reply