STRATAGOLD EXERCISES TASSAWINI OPTION
June
14, 2007 � Vancouver, B.C. - StrataGold Corporation (SGV.TSX) is
pleased to announce that it has met all the option exercise obligations
contained in the Option Agreement relating to the Tassawini
property in Guyana and, as a result, StrataGold,
through its indirectly - held wholly - owned subsidiary, has acquired a
100% interest in the property, subject to certain rights retained by the
vendor described below. The property consists of four medium scale mining
permits and the two adjacent prospecting licenses.
StrataGold has provided
the vendor with the final tranche of 100,000
common shares to complete the Tassawini Option
Exercise. These shares are subject to a four-month hold period which
expires on October 1, 2007.
The Tassawini
Agreement, dated June 10, 2004, required StrataGold
to complete exploration expenditures of US $2.6 million as well as issue
a total of 800,000 shares and 400,000 share purchase warrants in stages
and make cash installment payments totaling US $750,000 to the vendor. The vendor
retains a 2.5% NSR royalty that can be purchased at anytime at StrataGold�s option for US $4.0 million. The vendor
also retains the right to mine any known alluvial and tailings gold deposits,
which right StrataGold may purchase at anytime
for US $500,000.
About StrataGold
StrataGold is a
well-funded gold development company focused on the systematic
exploration and development of two advanced-stage gold projects. To
obtain additional information, photos and project updates please visit: www.stratagold.com.
For further information, please contact:
Mr. Terry L. Tucker, President and CEO
Ms. Vanessa Pickering, Manager, Investor Communications
StrataGold Corporation
Tel: 604-696-6601
E-mail: info@stratagold.com
Website: www.stratagold.com
|