Newstrike Capital Announces Closing of the Ana Paula Acquisition
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/25/10 -- Newstrike Capital Inc. (TSX VENTURE: NES) ('Newstrike' or 'the Company') - www.newstrikecapital.com - is pleased to advise that it has completed its acquisition of a 100% interest in the Ana Paula mining concessions from Goldcorp Inc. ('Goldcorp') (TSX:G, NYSE:GG). Final documentation was signed and submitted for registration in Mexico City on June 24, 2010. As consideration for the Ana Paula Properties, Newstrike paid to Desarrollos Mineros San Luis, S.A. de C.V. ('DMSL'), a wholly-owned subsidiary of Goldcorp, the amount of CAD$1.5 million in cash and 1,412,762 common shares of Newstrike having an aggregate value of CAD$600,000 calculated at a deemed price of $0.4247, being the volume weighted average trading price of common shares of Newstrike on the TSX Venture Exchange for the 20 consecutive trading days ending on the trading date prior to the issue date.
The Ana Paula properties comprise a total of 7,622 hectares in four discreet claims located internal to Newstrike's existing land position and complementing the Company's 81,000 hectares of highly prospective mineral claims in the immediate area. The Ana Paula properties include the advanced exploration stage Ana Paula Project where Goldcorp has previously identified anomalous gold at surface over a 1.0 by 2.0 kilometre area and in a similar geological setting to other deposits of the Guerrero Gold Belt.
A portion of this mineralized area was drill tested in 2005 with a 3,689 meter, 11-hole diamond drill program that confirmed the gold mineralization potential of the area. Newstrike has commissioned a technical audit and report of Goldcorp's exploration results from Mr. Bob Lunceford, MSc, CPG, and independent qualified person under NI43-101. The Company's report will be filed with the TSX Venture Exchange shortly.
About Newstrike (TSX VENTURE: NES)
Newstrike Capital Inc. is a gold-silver focused explorer, targeting known and historic mining districts in Mexico. Current management and directors co-discovered Goldcorp's and Teck's significant discoveries in the Guerrero Gold Belt in Guerrero State, currently in advanced stages of exploration and production.
Newstrike holds a 100% interest in certain exploration properties in Mexico located within two established mining districts; the gold bearing oxidized iron skarn-porphyry camp of the Guerrero Gold Belt, and the polymetallic Ag-Au-Cu rich epithermal camp of the mining districts of Oaxaca State, and is increasing its position as strategic opportunities present themselves.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Newstrike Capital Inc.
Richard O'C. Whittall
Chief Executive Officer
604.605.4654
www.newstrikecapital.com
blogsite: http://newstrikecapital.com/blog