EVERTON RESOURCES INC. AND BRIGUS GOLD CORP. AMEND THEIR DOMINICAN REPUBLIC JOINT VENTURE OPTION AGREEMENTS
Everton Resources Inc . (“Everton”) (TSX-V: EVR, Frankfurt: ERV) and Brigus Gold Corp. (“Brigus Gold”) (TSX & NYSE Amex: BRD) announce they have amended their joint venture option agreements relating to three exploration projects in the Dominican Republic. Everton and Brigus Gold each hold 50% interest in the Ampliacion Pueblo Viejo (“APV”) and the Loma El Mate projects, which are being managed by Everton and are contiguous with Barrick’s and Goldcorp’s Pueblo Viejo gold deposit. Under the amended agreements, Everton has the right to earn an additional 20% interest in each of the projects by incurring an additional $2.5 million in exploration related to APV and $1 million related to Loma El Mate. Everton was also granted a one-year extension, until April 10, 2011, to meet the remaining $450,000 exploration commitment in order to earn its initial 50% interest on the Loma Hueca, the third joint venture project between the companies.
“We are very pleased with these developments and look forward to expanding our position in the Dominican Republic over the next few months, with this new agreement, we can now focus on our upcoming drill program as well as positioning Everton Resources for the rest of this year and 2011”, commented Andre Audet, Everton’s Chairman and CEO.
Everton is actively exploring in the Dominican Republic adjacent to the US$2.7 billion Pueblo Viejo project, currently being developed by the world's largest gold mining company, Barrick Gold Corporation (60%) (NYSE/TSX: ABX) in partnership with Goldcorp (40%) ("Goldcorp") (NYSE: GG, TSX: G). Everton also holds through its 100%-owned subsidiary Hays Lake Gold various options consolidated land package located in the Shoal Lake area, near Kenora, Ontario. The Shoal Lake Gold Project is comprised of two significant high grade gold deposits: Duport and Cedar Island on 81.3 km2. The Company is also exploring in the Opinaca region of James Bay, Quebec where the Company has amassed one of the largest land claims adjacent to Goldcorp's Eleonore gold deposit.
Brigus Gold was formed by the business combination of Apollo Gold Corporation and Linear Gold Corp.
For more information, please contact:
Andre Audet, Chairman and CEO
Gary Economo, Manager, Corporate Communications
This news release contains certain forward-looking statements that involve risks and uncertainties, such as statements of Everton’s plans, objectives, strategies, expectations and intentions. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to Everton, or its management, are intended to identify such forward-looking statements. Many factors could cause Everton’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. The forward-looking statements included in this press release represent Everton’s views as of the date of the release. While Everton anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information. All subsequent written and oral forward-looking statements attributable to Everton or persons acting on its behalf are expressly qualified in their entirety by this notice.Neither 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.