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VANCOUVER, March 25, 2013 /CNW/ - Delta Gold Corporation
("Delta") (TSXV: DLT) is pleased to report that the option
agreement with Goldcorp Inc., which granted the Company the option
to acquire the Imperial Project, has been amended.
The Imperial Project is a significant gold
deposit at the feasibility and permitting stage, and is located in
Imperial County, California.
Effective March 19,
2013, the Imperial Project option agreement was amended to
extend the term of the option from June 6,
2017, to December 31, 2017,
and all share option payments and work expenditure obligations that
were required to be completed by June
6th of each applicable calendar year are now
required to be completed by December
31st of each applicable calendar year. The
amendment was agreed, without cost to Delta, to reflect the time
taken to execute Delta's listing on the TSX.V, which took place on
February 19, 2013.
Delta is also pleased to announce the
following appointments:
Effective March 15,
2013, John Budreski, a
founding director of the company, was appointed as chairman of the
board of directors. Mr. Budreski replaces Mr. Colin Benner who is also a founding director of
Delta and has been chairman since Delta's inception in 2009. Mr.
Benner will continue to act as a director of the company, but has
decided to step down as chairman in response to other professional
and personal demands on his time.
Effective April 1,
2013, Richard Godfrey will be
appointed VP Finance & CFO of Delta. Mr. Godfrey has over 30
years' of domestic and international experience in the mining
industry. He has senior financial experience in corporate, project
and operational accounting, finance, strategic planning and
acquisitions, public reporting and compliance. Most recently he was
CFO of Capstone Mining Corp. and Sherwood Copper Corporation, VP
Finance of EuroZinc Mining Corporation and Lundin Mining
Corporation, and VP Finance & CFO Breakwater Resources Ltd. Mr.
Godfrey replaces Harry Sutherland,
Delta's founding VP Finance and CFO, who is stepping down to devote
more time to his family and other personal interests.
Marco Romero,
President & CEO, stated that "Colin and Harry have made
valuable contributions to the development of Delta, and I would
like to record my appreciation and the gratitude of the company for
their hard work and dedication over the past four years. I am
delighted that Colin is staying on as a director of Delta and
warmly welcome Richard to the management team. The entire Delta
team is also very pleased to see John assume a greater role in the
development of our company".
On behalf of the Board of Directors
DELTA GOLD CORPORATION
"Marco A. Romero"
President & CEO
FORWARD LOOKING STATEMENTS:
Certain of the statements and information in
this press release constitute "forward-looking statements" or
"forward looking information" any statements or information that
express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (often, but not always, using words
or phrases such as "expects", "anticipates", "believes", "plans",
"estimates", "intends", "targets", "goals", "forecasts",
"objectives", "potential" or variations thereof or stating that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved, or the negative of any of
these terms and similar expressions) are not statements of
historical fact and may be forward-looking statements or
information. Forward looking statements or information relate to,
among other things the Company's listing on the TSX Venture
Exchange (the "Exchange") and business plans.
Forward-looking statements or information are
subject to a variety of known and unknown risks, uncertainties and
other factors that could cause actual events or results to differ
from those reflected in the forward-looking statements or
information, including, without limitation, the need for additional
capital by the Company through financings, and the risk that such
funds may not be raised; the speculative nature of exploration and
the stages of the Company's properties; the effect of changes in
commodity prices; regulatory risks that development of the
Company's material properties will not be acceptable for social,
environmental or other reasons, availability of equipment
(including drills) and personnel to carry out work programs, that
each stage of work will be completed within expected time frames,
that current geological models and interpretations prove correct,
the results of ongoing work programs may lead to a change of
exploration priorities, and the efforts and abilities of the senior
management team. This list is not exhaustive of the factors that
may affect any of the Company's forward-looking statements or
information. These and other factors may cause the Company to
change its exploration and work programs, not proceed with work
programs, or change the timing or order of planned work programs.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially, there may be
other factors that cause results not to be as anticipated,
estimated, described or intended. Accordingly, readers should not
place undue reliance on forward-looking statements or
information.
The Company's forward-looking statements and
information are based on the assumptions, beliefs, expectations and
opinions of management as of the date of this press release, and
other than as required by applicable securities laws, the Company
does not assume any obligation to update forward-looking statements
and information if circumstances or management's assumptions,
beliefs, expectations or opinions should change, or changes in any
other events affecting such statements or information.
The Exchange has neither approved nor
disapproved the contents of this news release. Neither the Exchange
nor its Regulation Services Provider (as that term is defined in
the policies of the Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Delta Gold Corporation