LAR

La Ronge Gold Corp. ("La Ronge" or the "Company") (TSX VENTURE:LAR) is pleased
to announce that it has entered into a letter of intent to acquire the assets
and business of a private company producing frac sand in the Western Canada
Sedimentary basin. The company currently sells into the Canadian frac sand
market and has fixed sales contracts with various oil and gas service providers
in Canada. Frac sands are a proppant used in hydraulic fracturing (fracking).


The acquisition is at arm's length and is expected to constitute a fundamental
acquisition. The acquisition contemplates a cash purchase price of $4,500,000,
subject to standard industry adjustments. Completion of the transaction is
subject to the parties negotiating a formal purchase and sale agreement
containing standard industry terms and conditions, including required board,
shareholder and regulatory approvals, on or before April 7, 2014. The
transaction remains subject to the receipt of all necessary regulatory
approvals, including the approval of the TSX Venture Exchange. In connection
with the acquisition, La Ronge expects to conduct a financing of approximately
$7m to fund the acquisition and capital investments and to provide for general
working capital.


La Ronge is also pleased to announce the appointment of Leonard D. Jaroszuk to
its board of directors. Mr. Jaroszuk has been involved in and managed a number
of public companies engaged in real estate, construction, natural resources and
exploration over the past 28 years. Mr. Jaroszuk is the Chairman of Enterprise
Group, Inc. (TSX:E), which is a growing consolidator of profitable businesses
providing services to the utility, energy and infrastructure construction
sectors. Mr. Jaroszuk currently serves as a director on several oil and gas,
service and manufacturing companies. La Ronge also announces that Alan Campbell
will be leaving its board on March 17, 2014.


La Ronge's President & CEO, Rasool Mohammad commented, "we value this
opportunity of getting involved in the energy-services-sector and we believe
there is a significant upside potential. We welcome Leonard Jaroszuk to the
board and look forward to his guidance. La Ronge would like to thank Mr. Alan
Campbell for his services to the company."


La Ronge also wishes to announce that it has acquired by staking, two blocks of
claims in north central Saskatchewan. The Amisk Lake block, which is located
about 30 km southwest of Creighton, has potential for near surface frac sand
resources. A geophysical survey is being planned for March 2014 that will help
determine the presence and thickness of favourable sand strata. The
Deschambeault Lake block is located along the southeast shore of Deschambeault
Lake, about 35 km southwest of the recently announced discovery of
diamondiferous kimberlite bodies, and has also potential for frac sand
resources. A till sampling program is planned for this property this summer.


Gordon Davidson, P. Geol., VP Exploration for La Ronge, is a "Qualified Person"
for the purposes of National Instrument 43-101 and has verified the technical
information disclosed in this news release.


About La Ronge Gold Corp.

La Ronge is actively engaged in diversifying its mining assets portfolio into
sectors other than precious metals. The intent of this strategy is to identify
and acquire strategic investments that have the capability to generate cash flow
with low capital expenditure costs. This mining asset diversification strategy
is limited geographically to Canada at the present time. La Ronge is a
Vancouver-based rapidly advancing resource growth and development company. The
Company owns high-grade gold deposits in one of Canada's emerging gold producing
regions, the La Ronge Gold Belt, northern Saskatchewan. La Ronge also holds
other gold projects located in Ontario and, Saskatchewan. 


For more information about La Ronge Gold Corp., please go to www.larongegold.com. 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this Release.


FORWARD-LOOKING INFORMATION

This news release includes forward-looking information and statements, which may
include, but are not limited to, information and statements regarding or
inferring the future business, operations, financial performance, prospects and
other plans, intentions, expectations, estimates, and beliefs of the Company.
Information and statements which are not purely historical fact are
forward-looking statements. Forward-looking information and statements involve
and are subject to assumptions and known and unknown risks, uncertainties, and
other factors which may cause actual events, results, performance, or
achievements of the Company to be materially different from future events,
results, performance, and achievements expressed or implied by forward-looking
information and statements herein. Although the Company believes that any
forward-looking information and statements herein are reasonable, in light of
the use of assumptions and the significant risks and uncertainties inherent in
such information and statements, there can be no assurance that any such
forward-looking information and statements will prove to be accurate, and
accordingly readers are advised to rely on their own evaluation of such risks
and uncertainties and should not place undue reliance upon such forward-looking
information and statements. Any forward-looking information and statements
herein are made as of the date hereof, and except as required by applicable
laws, the Company assumes no obligation and disclaims any intention to update or
revise any forward-looking information and statements herein, or to update the
reasons that actual events or results could or do differ from those projected in
any forward-looking information and statements herein, whether as a result of
new information, future events or results, or otherwise, except as required by
applicable laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
La Ronge Gold Corp.
Rasool Mohammad, B.Sc. (Mining)
President & CEO
604 639-4533
604 685-3765 (FAX)
www.larongegold.com

(TSXV:LAR)
Historical Stock Chart
Von Apr 2024 bis Mai 2024

(TSXV:LAR)
Historical Stock Chart
Von Mai 2023 bis Mai 2024