Toronto, Ontario--(Newsfile Corp. - June 13, 2018) - Currie Rose Resources Inc. (TSXV: CUI) ("Currie Rose" or the "Company") is pleased to announce that the Company signed a Purchase and Sale Agreement ("Agreement") to acquire a 100% interest in the "Golden 8 Claim" which adjoins the south western boundary of the recently optioned Rossland Project (the "Project"). The Golden 8 Claim covers 296.5ha of the highly prospective Rossland "South Belt" and increases the coverage of Company's Rossland Project (part of the Rossland Mining Camp) to approximately 2,230 ha.
The Rossland Mining Camp produced more than 2.7 million ounces of gold, 3.5 million ounces of silver and 71 tonnes of copper between 1894 and 1941 and ranks as the third largest lode gold camp in British Columbia.
Under the terms of the Agreement, Currie Rose has the right to acquire 100% of the Golden 8 Claim from a private vendor via a 2 stage cash payment schedule:
- $16,000 on execution of the Agreement;
- $16,000 within 3 months of execution.
Vendor to retain a 2% NSR and Currie has a Right of Repurchase one half of the NSR (1%) by paying the vendor $1m.
Michael Griffiths, Currie's President and CEO, commented; "The Golden 8 Claim covers the most southern and eastern part of the Rossland Mining Camp and is underexplored. Our review of historic drilling and geophysical data covered by the Claim, has identified augite porphyry volcanic and volcanogenic sediments which are the host rocks of the Rossland production series of gold bearing hornblende porphyry and sulphide mineralisation.
This is a very important addition to our package as so little modern exploration has been done in this area and yet, we are within 5km of a former major gold production area."
About Currie Rose Resources Inc.
Currie Rose is a precious metal explorer focused on identifying high value assets in Canada. Our current projects span British Columbia and Ontario with our immediate focus on the recently acquired Rossland Project in BC.
Technically strong and corporately agile we seek to add value through targeted exploration.
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.
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. Statements about the closing of the transaction, expected terms of the transaction, the number of securities of Currie Rose that may be issued in connection with the transaction, and the parties' ability to satisfy closing conditions and receive necessary approvals are all forward-looking information.These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
FOR ADDITIONAL INFORMATION IN RESPECT OF CURRIE ROSE, PLEASE CONTACT:
Mike Griffiths, CEO
Catherine Beckett, Manager Corporate Affairs