North Country Gold Grants Stock Options
01.10.2010 | Marketwire
Edmonton, Alberta -- (Marketwire - Oct. 1, 2010) - North Country Gold Corp. (TSX VENTURE: NCG) ("North Country" and the "Company") today announced that the Company's Board of Directors has granted stock options to acquire up to an aggregate 5,750,000 common shares of North Country under the Company's stock option plan, of which 4,550,000 were granted to officers and directors. The stock options are exercisable at a price of $0.47 per common share.About North Country Gold Corp.
North Country Gold Corp. controls one of the largest under explored greenstone belts within Canada, and has numerous drill ready high grade gold targets, in addition to those at Three Bluffs. The gold-rich Committee Bay Greenstone Belt is located approximately 300 kilometers north of Baker Lake within Nunavut Territory, Canada. North Country Gold Corp. is currently the 100% beneficial owner of the mineral rights to approximately 557,323 acres (225,569 hectares) of land comprising 216 active mineral claims and 14 mineral leases.
The Three Bluffs Gold Project currently hosts an indicated resource of 508,000 ounces (2,700,000 tonnes at 5.85 g/t Au) and an additional inferred resource of 244,000 ounces (1,270,000 tonnes at 5.98 g/t Au) at the Three Bluffs Deposit which remains open to the west and to depth. The deposit occurs at the eastern end of a package of auriferous iron formation bearing supracrustral rocks (Walker Lake Trend) that has been traced at least five kilometers west which the 2010 drilling indicates may be continuously mineralized. North Country Gold Corp. believes that significant potential exists along the Walker Lake trend and has developed a strategy to indentify additional near surface open-pittable gold resources along the strike length of the trend, which will incrementally add to the existing high grade resource inventory underpinned by the Three Bluffs Deposit.
North Country Gold Corp. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.
On behalf of the Board
North Country Gold Corp.
"John Williamson"
For more information on North Country Gold, please visit the company's website: www.northcountrygold.com.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.
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.
For more information, please contact
North Country Gold Corp.
Brian Budd, Director of Corp. Development
604-646-4525
brianb@northcountrygold.com
www.northcountrygold.com