Gold Standard Announces Sale of Non Core Assets and Changes to Its Management and Technical Team
30 Mai 2014 - 9:05AM
Marketwired
Gold Standard Announces Sale of Non Core Assets and Changes to Its
Management and Technical Team
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 30, 2014) - Gold
Standard Ventures Corp. (TSX-VENTURE:GSV)(NYSEMKT:GSV)(NYSE
Amex:GSV) ("Gold Standard" or the "Company") announced today that
it has entered into a binding Letter of Intent to sell its entire
portfolio of non-core early exploration assets consisting of
Crescent Valley, East Camp Douglas and East Bailey projects to
Tanqueray Exploration Ltd. (TSX-VENTURE:TQY) for cash and shares.
The sale follows a strategic decision by Gold Standard's Board of
Directors to concentrate the Company's efforts on its wholly-owned
advanced stage Railroad-Pinion Project on Nevada's Carlin Trend.
Changes to the Company's technical team have also been made to
reflect the shift in strategic direction.
Divestiture Highlights:
- Gold Standard has agreed to sell all of its interests in the
non-core assets to Tanqueray Exploration Ltd. for 60,000,000 shares
of Tanqueray (representing approximately 88% of its shares
outstanding after the sale) and $150,000 in cash, to close on or
before August 15th, 2014.
- The sale will reduce Gold Standard's annual land holding costs
by approximately $400,000.
- GSV will continue to have a significant participation in the
potential for exploration success on the non-core properties as a
major shareholder of Tanqueray.
As part of the divestiture, Gold Standard Ventures announces
that, effective May 30th, co-founder, director and VP of
Exploration Dave Mathewson will be stepping down as a director and
officer of the Company to assume responsibility for the direction
of Tanqueray as its VP Exploration and interim President and CEO
upon closing of the transaction. Mr. Mathewson will remain a
technical advisor to Gold Standard for a period of at least one
year.
Gold Standard's President and CEO Jonathan Awde stated that
"since the Pinion acquisition we have been assessing ways to unlock
the value in our earlier stage exploration assets while also
focusing on the Railroad-Pinion Project. We believe this
divestiture is the best way to accomplish these two objectives.
Dave Mathewson is a visionary Nevada geologist with a long history
of early stage discoveries. He was absolutely instrumental in our
discovery at North Bullion and vital to our efforts to consolidate
the Railroad-Pinion district for the first time ever. Dave's first
love in exploration has always been in identifying and advancing
tier 1, district scale generative exploration opportunities and
that's precisely what Crescent Valley, East Camp Douglas and East
Bailey projects represent. This is a fitting transition given Gold
Standard's new strategic direction as an advanced-stage explorer. I
want to express our utmost appreciation to Dave for his unwavering
commitment to the growth of the Company."
Gold Standard is pleased to announce that Senior Geologist, Mac
Jackson, Jr., M.Sc. will become VP Exploration and will be joined
by newly hired Chief Geologist John Norby, M.Sc.
Mac Jackson has over 17 years of experience as an exploration
geologist, including 8 years with Newmont Mining Corporation.
During his tenure with Newmont, Mr. Jackson was a significant
contributor to the discovery of the West Leeville and Turf
deposits, both of which are on the Carlin Trend, and the Fiber Line
deposit at the Twin Creeks complex. Mr. Jackson has been with Gold
Standard since July 26, 2011 and has been instrumental in expanding
our understanding of the stratigraphy and structural geology and
advancing new target opportunities on the Railroad-Pinion
Project.
John Norby has over 35 years of experience as exploration,
project and chief geologist. John has extensive Nevada experience
including nearly 20 years spent designing and executing exploration
and resource delineation programs for Barrick and Newmont mostly in
the Carlin and Cortez trends. Mr. Norby managed a highly successful
exploration program for Newmont in the Maggie Creek district within
the Carlin Trend that successfully delineated significant
additional resources at the Mike and Gold Quarry deposits. While at
Placer Dome and Barrick, Mr. Norby identified and drilled new oxide
mineralization at Pipeline and Getchell. John obtained his Master
of Science, Geology, 1984, South Dakota School of Mines and
Technology, Rapid City and Bachelor of Arts, Environmental Science,
geology concentration, 1978, University of Virginia,
Charlottesville.
CEO Jonathan Awde stated that"Mac and John, along with our
Manager of projects, Steve Koehler represent a first class
technical team with extensive Carlin experience. John provides the
resource estimation and environmental expertise we now need for the
next stage of our development while Mac and Steve bring invaluable,
first hand knowledge of Railroad-Pinion geology and operational
requirements. All the elements are in place for success going
forward."
Completion of the transaction is subject to a number of
conditions, including, but not limited to, the satisfaction of Gold
Standard and of Tanqueray of certain due diligence investigations
to be undertaken by each party,, closing conditions customary to
transactions of the nature of the transaction and exchange
acceptance. Where applicable, the transaction cannot close until
the required shareholder approval is obtained by Tanqueray
shareholders, and there can be no assurance that the transaction
will be completed as proposed or at all.
The scientific and technical content and interpretations
contained in this news release have been reviewed, verified and
approved by Steven R. Koehler, Gold Standard's Manager of Projects,
BSc. Geology and CPG-10216, a Qualified Person as defined by NI
43-101, Standards of Disclosure for Mineral Projects.
ABOUT GOLD STANDARD VENTURES - Gold Standard is an advanced
stage gold exploration focused on district scale discoveries in
Nevada. The Company's flagship project, the Railroad-Pinion Gold
Project, is located within the prolific Carlin Trend. The recent
Pinion gold deposit acquisition offers GSV a potential near-term
development option and further consolidates the Company's premier
land package in the Carlin Trend. Gold Standard is moving towards
building NI 43-101 compliant gold resources at both the near
surface, oxide-gold Pinion deposit and the classic Carlin style,
North Bullion gold deposit in 2014.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) nor
the NYSEMKT accepts responsibility for the adequacy or accuracy of
this news release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, which
relate to future events or future performance and reflect
management's current expectations and assumptions. Such
forward-looking statements reflect management's current beliefs and
are based on assumptions made by and information currently
available to the Company. All statements, other than statements of
historical fact, included herein including, without limitation,
statements about our proposed financing are forward looking
statements. By their nature, forward-looking statements involve
known and unknown risks, uncertainties and other factors which may
cause our actual results, performance or achievements, or other
future events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Risk factors affecting the Company
include, among others: the results from our exploration programs,
global financial conditions and volatility of capital markets,
uncertainty regarding the availability of additional capital,
fluctuations in commodity prices; title matters; and the additional
risks identified in our filings with Canadian securities regulators
on SEDAR in Canada (available at www.sedar.com) and with the SEC on
EDGAR (available at www.sec.gov/edgar.shtml). These forward-looking
statements are made as of the date hereof and, except as required
under applicable securities legislation, the Company does not
assume any obligation to update or revise them to reflect new
events or circumstances.
On behalf of the Board of Directors of Gold Standard,
Jonathan Awde, President and Director
Gold Standard Ventures Corp.Jonathan
AwdePresident604-669-5702info@goldstandardv.comwww.goldstandardv.com
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