Everton Completes Option to Purchase Brigus Gold's Remaining Interest in the Ampliacion Pueblo Viejo, La Cueva and Ponton Con...
October 23 2012 - 1:25PM
Marketwired Canada
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES.
Everton Resources Inc. ("Everton" or the "Corporation") (TSX
VENTURE:EVR)(FRANKFURT:ERV)(OTCQX:EVRRF) and Brigus Gold Corp. ("Brigus")
(TSX:BRD)(NYSE MKT:BRD)(NYSE Amex:BRD) are pleased to announce that they have
completed the previously announced option to obtain the sole and exclusive right
to acquire Brigus's remaining interest in the Ampliacion Pueblo Viejo, La Cueva
and Ponton concessions located in the Dominican Republic (the "Concessions").
This will be achieved by Everton through the acquisition of all of the issued
and outstanding common shares of Linear Gold Caribe, S.A. ("Linear Gold"), a
wholly-owned subsidiary of Brigus and registered titleholder of the Concessions.
Under the terms of the option agreement executed among the parties, Everton
issued 15,000,000 common shares (the "Shares") to Brigus Gold ULC ("Brigus
Gold"), another wholly-owned subsidiary of Brigus and registered holder of the
issued and outstating shares of Linear Gold. The Shares will be subject to an 18
months escrow period under which 2,500,000 Shares will be released to Brigus
Gold upon the receipt of the final approval of the TSX Venture Exchange (the
"Exchange"). An additional 4,500,000 Shares will be released to Brigus Gold six
(6) months following the closing date and an additional 4,000,000 Shares will be
released to Brigus Gold twelve (12) and eighteen (18) months respectively
following the closing date. The Shares are also subject to a regulatory four (4)
month hold period expiring on February 23, 2013. The parties have closed the
transaction in trust pending the receipt of the final approval of the Exchange.
Everton has also notified Brigus that it intends to exercise its right to
acquire from Brigus Gold the issued and outstanding shares of Linear Gold. The
closing of the acquisition is subject to the execution of a share purchase
agreement and the payment of the agreed purchase price by Everton. The
Corporation will issue a subsequent press release to announce the closing of the
transaction and provide additional details thereon.
Everton has also notified Brigus that it intends to exercise its right to
acquire from Brigus Gold the issued and outstanding shares of Linear Gold. The
closing of the acquisition is subject to the execution of a share purchase
agreement, a net smelter royalty on the properties in favour of Brigus and the
payment of the agreed purchase price by Everton. The Corporation will issue a
subsequent press release to announce the closing of the transaction and provide
additional details thereon.
Andre Audet, Chairman and Chief Executive Officer of the Corporation said "The
closing of this agreement represents another step in Everton's strategy to focus
on its Dominican Republic properties, and we believe acquiring a 100% ownership
interest in APV, Ponton and La Cueva will add significant future shareholder
value".
About Everton Resources Inc.
Everton is actively exploring in the Dominican Republic adjacent to the US$3.8
billion Pueblo Viejo project, currently being mined by the world's largest gold
mining company, Barrick Gold Corporation (60%) in partnership with Goldcorp Inc.
(40%) ("Goldcorp") (NYSE:GG)(TSX:G). Everton also holds an interest in the
Opinaca region of James Bay, Quebec where the Company has partnered with Aurizon
Mines Ltd. who is advancing Everton's interest by funding 100% of all
exploration work on one of the largest land packages adjacent to Goldcorp's
Eleonore gold deposit.
Brigus Gold Corp.
Brigus is a growing Canadian gold producer committed to maximizing shareholder
value through a strategy of efficient production, targeted exploration and
select acquisitions. The Company operates the wholly owned Black Fox Mine and
Mill in the Timmins Gold District of Ontario, Canada. The Black Fox Complex
encompasses the Black Fox Mine, the new Grey Fox property and adjoining
properties in the Township of Black River-Matheson, Ontario, Canada. The Black
Fox Mine is in production and the Grey Fox Mine, located four kilometres from
Black Fox is in development. Brigus is also advancing the Goldfields Project
located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona
gold deposits. In Mexico, Brigus owns the Ixhuatan Project located in the state
of Chiapas. In the Dominican Republic, Brigus has signed an agreement to sell
its remaining interests in three mineral exploration projects.
CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION
This news release contains certain forwardlooking 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 forwardlooking statements. Many factors could cause Everton's
actual results, performance or achievements to be materially different any
future results, performance or achievements that may be expressed or implied by
such forwardlooking statements. The forwardlooking 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
forwardlooking statements, except in accordance with applicable securities laws.
Accordingly, readers are advised not to place undue reliance on forwardlooking
information. All subsequent written and oral forwardlooking statements
attributable to Everton or persons acting on its behalf are expressly qualified
in their entirety by this notice.
FOR FURTHER INFORMATION PLEASE CONTACT:
Everton Resources Inc.
Andre Audet, Chairman and CEO
613-241-2332
613-834-8166 (FAX)
andre@evertonresources.com
www.evertonresources.com
Brigus Gold Corp.
Jennifer Nicholson, CA
Executive Vice President
(902) 442-7186
jnicholson@brigusgold.com
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