TORONTO, ONTARIO -- (Marketwired) -- 07/20/15 -- Buccaneer Gold Corp. ("Corporation") (TSX VENTURE: BGG) reports that Blaine Schmidt has resigned as a Director of the company effective June 25, 2015. Mr. Schmidt was an independent director of the Corporation since November 20, 2009 and his contribution over the years has been much appreciated. We wish him well in his future endeavors.
Gold Sales from Alluvial Production on the Banso and Muoso Mining Leases
The Corporation understands that Xtra-Gold Corp. ("Xtra") has recently sold the first batch of alluvial gold recovered from Xtra's Banso and Muoso Mining Leases in Ghana. The Banso and Muoso Mining Leases are subject to a Joint Venture with Buccaneer and the Corporation previously purchased a 55% up-front interest in the alluvial proceeds from Xtra for US$50,000 as part of an Agreement in which the Corporation has the right to earn a 55% interest in those Mining Leases.
The Corporation requested that Xtra provide it with an accounting of the gold production and sales by June 30, 2015. Xtra has not responded and the Corporation will be following up on that request shortly.
Buccaneer is a mineral exploration company whose long-term objective is to build a diversified company focused on the acquisition, exploration and development of mineral properties. Additional information about the Company is available on www.buccaneergold.com.
This press release contains forward-looking statements which reflect the Corporation's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ significantly from those projected herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed this news release and neither accepts responsibility for the adequacy or accuracy of this news release.
Buccaneer Gold Corp.
President and Chief Executive Officer
Buccaneer Gold Corp.
Chief Financial Officer