Windsor Gold Partners Ltd.
Windsor Gold Partners Ltd.: WINDSOR GOLD PARTNERS ANNOUNCES EXECUTION OF PRELIMINARY ACQUISTION AGREEMENT FOR MINING PROPERTIES IN NEVADA AND IDAHO
DGAP-News: Windsor Gold Partners Ltd. / Key word(s): Joint Venture 21.02.2014 / 07:25 --------------------------------------------------------------------- February 21, 2014; Hamilton, Bermuda. Windsor Gold Partners Ltd. (dually listed on Boerse Dusseldorf and Bermuda Stock Exchange) is pleased to announce that it has entered into a preliminary agreement to acquire the land and accompanying mineral rights to 18,000 acres in Humboldt County, Nevada, USA. In addition, the Company executed an Agreement to acquire the 'U.P. & Burlington' gold mine in Idaho. The acreage in Humboldt County, Nevada is adjacent to the Turquoise Ridge Gold mine located approximately 70 miles Northwest of the town of Winnemucca, Nevada. This area has been identified as containing a 'Carlin Type' deposit. The Carlin Gold Deposit is sediment hosted disseminated gold deposit that was first discovered and mass-produced in the 1960s at the Carlin mine in Nevada. The Great Basin area of the United States is well known for such deposits, which represent some of the largest hydrothermal based gold deposits on the planet. The Turquoise Ridge Gold Mine, located immediately adjacent to the acreage to be acquired by Windsor, is owned and operated in a joint venture by Barrick Gold Corporation and Newmont Mining Corporation; two of the world's leading publicly traded gold mining and exploration companies. Both Barrick Gold and Newmont Mining are listed on the New York Stock Exchange. It is generally believed that the Turquoise Ridge property is one of Barrick's and Newmont's most productive mines in the United States. The U.P. & Burlington mine is located in Lemhi County, Idaho and is described in a National. Instruments 43-101 report which management plans to release in the near future. Pursuant to the Agreement, the total cash purchase price of the transaction is $60,000,000 US. WGP has sought and obtained a conditional financing commitment for the purchase price from Heritage Global, Inc. a corporation controlled by a major shareholder of WGP. Heritage has issued the commitment based on their agency relationship with CT Financial of Zurich, Switzerland; an investment fund with reported assets in excess of US$1 Billion. A secondary financing commitment is being considered by Starlight Financial of New York City. Trina Bray, Director and president of Windsor Gold commented, 'We are delighted to have entered into an agreement of such broadened scope for the further exploration of gold production opportunities. The properties in question have a very high prospective value. Ms. Bray however cautioned the public, adding, 'Readers, shareholders and prospective investors should remain aware that the completion of the transaction entire is subject to an extensive list of conditions, which could cause the transaction to be terminated at any time by either side.' She further commented. 'Our caution notwithstanding, if completed this transaction would mark a dramatic increase in WGP's assets and operations. Accordingly, management feels it prudent to disclose this possibility in its preliminary stage.' For additional information please refer to the Company's website HYPERLINK "http://www.windsorgoldpartners.com" www.windsorgoldpartners.com or contact Trina Bray at HYPERLINK "mailto:info@windsorgoldpartners.com" info@windsorgoldpartners.com PUBLIC NOTICE. This announcement is neither a solicitation to purchase nor an offer to sell securities. Purchasing or trading shares of Windsor Gold Partners, Ltd. Involves a high degree of risk including the possible loss of all monies invested. All statements contained herein which could be considered forward looking are published under reliance on applicable safe harbor provisions. No assurance can be made that anticipated future events will occur as planned, if at all. End of Corporate News --------------------------------------------------------------------- 21.02.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 253597 21.02.2014
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