ValGold in Negotiations for a Property Acquisition in Central Europe
August 16 2011 - 8:30AM
Marketwired
ValGold Resources Ltd. (TSX VENTURE: VAL)(FRANKFURT: VR2)
("ValGold") announces it is in an advanced stage of negotiation to
acquire one or more mineral properties located in Central Europe.
To date approximately $1.0 million has been expended to investigate
a number of potential acquisition targets including previously
operating mines. These funds have been expended to acquire historic
exploration and operational data and as an initial deposit on
properties under negotiation.
The data acquired is currently being evaluated by ValGold's
management and consulting geologists and ValGold hopes to conclude
negotiations for the acquisition of one or more properties within
60 days. The material terms of any acquisition will be announced
when agreed. All acquisitions will be subject to board and
regulatory approval.
For more information on ValGold's Canadian and international
gold projects, please visit our website at www.valgold.com.
Stephen J. Wilkinson, President & Chief Executive
Officer
This news release includes "forward-looking information". All
statements in this release, other than statements of historical
facts, that address the private placement or mineral exploration
programs contain forward-looking information and are based on a
number of assumptions, including, but not limited to, that there
will not be substantial changes to market conditions, regulatory
requirements or costs associated with mineral exploration. Although
the Company believes the expectations expressed in such
forward-looking information 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 information. Factors that could cause actual
results to differ materially from those in forward-looking
information include changes in the price of the Company's shares,
the costs of labor, equipment and other costs associated with
exploration, exploration successes, 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.
SEC 12g3-2(b): 82-3339
Neither TSX Venture Exchange nor its Regulation Services
Provider (as the term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: ValGold Resources Ltd. Cindy Chu Investor Relations
(604) 687-4622 (604) 687-4212 (FAX) info@valgold.com
www.valgold.com
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