Viking Options Guyenne Claims from Globex
04 Septiembre 2012 - 7:30AM
PR Newswire (Canada)
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
U.S. WIRE SERVICES/ TORONTO, Sept. 4, 2012 /CNW/ - Viking Gold
Exploration Inc. , the "Company" or "Viking Gold", is pleased to
announce that it has entered into an option agreement ("the
Agreement") with Globex Mining Enterprises Inc. to earn a 50%
interest in the 7 claims known as the Guyenne Property. The claims
are situated approximately 40 kilometers northwest of Amos, Quebec,
which is northwest of Val-d'Or in the prolific Abitibi Mining
District. Under the terms of the Agreement, Viking Gold will pay a
total of $105,000 cash and issue 550,000 common shares to Globex as
follows - an initial payment of $20,000 and 150,000 shares
(representing the minimum commitment), $25,000 and 150,000 shares
on or before the first anniversary date (of the Agreement), and
$60,000 and 250,000 shares on or before the second anniversary
date. In addition, the Company is required to spend a minimum
of $1,500,000 exploring the claims, as follows - $250,000 in the
first year, $250,000 in the second year, and $1,000,000 in the
third year. The Company has also agreed to issue 100,000
common shares as a finders' fee on the initial closing of the
Agreement. This transaction is subject to the approval of the
TSX Venture Exchange. Viking Gold is very pleased to obtain the
opportunity to further explore these claims. Previous
drilling in 1988, performed by Abbey Exploration Inc., showed
promising results including 0 .173 ozt Au over 20.3 feet (5.38 g/t
Au over 6.2 m) from Hole #88-N-4. A program of line cutting,
geological mapping and ground geophysics will commence shortly, to
be followed by diamond drilling. 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 press release. This press
release contains forward-looking statements. All statements, other
than of historical fact, that address activities, events or
developments that the Company believes, expects or anticipates will
or may occur in the future (including, without limitation,
statements regarding the estimation of mineral resources,
exploration results, potential mineralization, potential mineral
resources and mineral reserves) are forward-looking statements.
Forward-looking statements are often identifiable by the use of
words such as "anticipate", "believe", "plan", may", "could",
"would", "might" or "will", "estimates", "expect", "intend",
"budget", "scheduled", "forecasts" and similar expressions or
variations (including negative variations) of such words and
phrases. Forward-looking statements are subject to a number of
risks and uncertainties and other factors that may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Factors that could cause actual results or events to
differ materially from current expectations include, among other
things, without limitation, failure to establish estimated mineral
resources, the possibility that future exploration results will not
be consistent with the Company's expectations, the price of
commodities and other risks identified in the Company's documents
filed with the Canadian securities regulatory authorities on
SEDAR.com. Any forward-looking statement speaks only as of the date
on which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement. Viking Gold Exploration Inc.
CONTACT: please contact Mark Edwards, CEO at (905) 752-2008 or
visit theCompany's website at: www.vikinggold.ca
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