Taku Acquires 100% of Sonora Gulch Project in Yukon’s White Gold District
VANCOUVER, March 27, 2019 - Taku Gold Corp. (CSE: TAK; OTCQB: TAKUF) (the “Company” or “Taku”) is pleased to announce that it amended its previously announced property option agreement (the “Agreement”) with Golden Predator Mining Corp. (TSXV:GPY) (“Golden Predator”) and has now acquired Golden Predator’s 100% interest in the Sonora Gulch Property in Yukon’s White Gold District, in exchange for a final payment of 4,750,000 shares of Taku under the option and a 1% net smelter return royalty.
“This Agreement allows our shareholders to secure 100% interest in the attractive prospect of Sonora Gulch and the White Gold District while minimizing shareholder dillution,” said Neil Swift, Chief Executive Officer.”
Under the terms of the amended option agreement, the Company issued 4,750,000 common shares of Taku (in addition to the 4,500,000 common shares of Taku previously issued on August 1, 2017) to Golden Predator in consideration for the Sonora Gulch property. This final issuance of 4,750,000 shares replaced the Company’s previously announced second and third year share issuance obligations under the option. The securities issued pursuant to this transaction will be subject to a four-month hold period in accordance with applicable securities laws.
Sonora Gulch Project
The Sonora Gulch Project is 259 mineral claims covering approximately 5,414 hectares located in the Yukon’s White Gold District. The Sonora Gulch property is located 110 kilometres (km) northwest of the town of Carmacks along the Casino Trail which extends to the Casino property located to the northwest. The property is centrally located within the Dawson Range Mineral Belt which includes many known deposits in central Yukon, including, the Coffee and White Gold deposits in the northern portion of the belt, the Casino deposit 45 km to the northwest and Klaza and Freegold Mountain area deposits to the south.
Golden Predator, through its predecessor, Northern Tiger Resources, explored the property from 2007-2011 and intersected gold in various zones of mineralization which have potential for expansion.
About Taku Gold Corp.
Taku Gold Corp. is a gold exploration company focused on advancing well-positioned projects in safe jurisdictions with a particular emphasis on the White Gold district of Canada’s Yukon.
For additional information:
Neil Swift, Chief Executive Officer
(604) 260-0289
www.takugold.com
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Company’s periodic reports including the annual report or in the filings made by the Company from time to time with securities regulators. The Company undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of an unanticipated event.