Linux Gold Corp. Announces Dime Creek Exploration Program
June 18 2014 - 5:10AM
Marketwired
Linux Gold Corp. Announces Dime Creek Exploration Program
VANCOUVER, BC--(Marketwired - Jun 18, 2014) - Linux Gold Corp.
(OTCBB: LNXGF) is pleased to announce a soil auger/lode exploration
program is being planned for the Dime Creek gold/platinum property,
located in Northern Alaska. An eight-day project is planned to test
several placer pits. A phased reconnaissance exploration program is
recommended in order to gather enough information to finance and
initiate a placer resource definition program.
DIME CREEK
SUMMARY
The Dime Creek area is a historic producer of gold and platinum
located in the eastern portion of the Seward Peninsula, within the
Koyuk Mining District of Alaska. Examination of U.S. Mint
production records and other sources indicate that Dime Creek has
produced and estimated 40,000 to 60,000 ounces of gold from 1915 to
1955 -- most of which was produced prior to 1952. According to U.S.
Government mint records, 105 ounces of byproduct platinum has also
been produced from the Koyuk district, mostly from Dime Creek.
ABOUT LINUX GOLD
CORP.
Linux Gold Corp. symbol LNXGF is involved with exploration of
mineral properties:
Dime Creek on the eastern Seward Peninsula of Alaska, Linux Gold
Corp. owns a 100% interest in a strip of 12 contiguous State of
Alaska mining claims.
Linux owns a 5% royalty interest in the Fish Creek property
until $2,000,000 is received. With a buy in option for a 25%
interest within one year from production in lieu of the 5% royalty
interest.
For more information on the Company, please visit
www.linuxgoldcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
John Robertson, President
READER ADVISORY
This news release may contain certain forward-looking
statements, including management's assessment of future plans and
operations, and capital expenditures and the timing thereof, that
involve substantial known and unknown risks and uncertainties,
certain of which are beyond the Company's control. There can be no
assurance that such statements will prove accurate, and actual
results and developments are likely to differ, in some case
materially, from those expressed or implied by the forward-looking
statements contained in this press release. Readers of this press
release are cautioned not to place undue reliance on any such
forward-looking statements.
Forward-looking statements contained in this press release
are based on a number of assumptions that may prove to be
incorrect, including, but not limited to: timely implementation of
anticipated drilling and exploration programs; the successful
completion of new development projects, planned expansions or other
projects within the timelines anticipated; the accuracy of reserve
and resource estimates, if any, grades, mine life and cash cost
estimates; whether mineral resources can be developed; title to
mineral properties; financing requirements; changes in laws, rules
and regulations applicable to Linux, and changes in how they are
interpreted and enforced, delays resulting from or inability
to obtain required regulatory approvals and ability to access
sufficient capital from internal and external sources, the impact
of general economic conditions in Canada, and the United States,
industry conditions, increased competition, the lack of
availability of qualified personnel or management, fluctuations in
foreign exchange, stock market volatility and market valuations of
companies with respect to announced transactions. The Company's
actual results, performance or achievements could differ materially
from those expressed in, or implied by, these forward-looking
statements, including those described in the Company's Financial
Statements, Management Discussion and Analysis and Material Change
Reports filed with the Canadian Securities Administrators and
available at www.sedar.com, and the Company's 20-F annual report
filed with the United States Securities and Exchange Commission at
www.sec.gov. Accordingly, no assurances can be given that any
of the events anticipated by the forward-looking statements will
transpire or occur, or if any of them do so, what benefits,
including the amount of proceeds, that the Company will derive
there from.
Readers are cautioned that the foregoing list of factors is
not exhaustive. All subsequent forward-looking statements, whether
written or oral, attributable to the Company or persons acting on
its behalf are expressly qualified in their entirety by these
cautionary statements. Furthermore, the forward-looking statements
contained in this news release are made as at the date of this news
release and the Company does not undertake any obligation to update
publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required by applicable securities
laws.
Phone Contact: John Robertson (604) 278-5996 LINUX GOLD CORP.
#240 - 11780 Hammersmith Way Richmond, BC V7A 5E9 Phone:
604-278-5996 Fax: 604-278-3409 www.linuxgoldcorp.com
0187279 B C (CE) (USOTC:LNXGF)
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