Terraco Gold Announces Closing of Second Royalty Transaction on the Spring Valley Gold Deposit, Nevada
Vancouver, BC, March 13, 2012 - (TSX.V TEN | US: TCEGF ). Terraco Gold Corp. (�the �Company�) is pleased to announce that further to its press release dated March, 9, 2012, Terraco has received TSX Venture Exchange acceptance of the transaction which has now closed.
�We are excited to have closed this second royalty/option acquisition which complements the first royalty transaction announced by Terraco on December 21st and 23rd, 2011. Together, these transactions provide royalty coverage on the gold deposit currently outlined in the Barrick/Midway Gold Spring Valley Project National Instrument 43-101 technical report, filed by Midway on SEDAR. Terraco anticipates that the value of its combined royalty assets will continue to grow as Barrick takes Spring Valley towards production. We believe we have strategically created, through these royalty transactions, the opportunity for monetization through cash flow from future mine production and also the ability to leverage portions of the royalty portfolio in the future to raise cash without diluting Terraco�s shareholders�, stated Todd Hilditch, President and CEO of Terraco.
The Spring Valley Project is a joint venture between Barrick Gold Corp. and Midway Gold Corp., pursuant to which Barrick has the right to earn a 60% interest in the Spring Valley Project by completing work expenditures totaling US$30,000,000 before December 31, 2013. Terraco�s 100% owned Moonlight Property is located along trend immediately to the north of the Spring Valley Project.
Further details about the transaction can be obtained from Terraco�s March 9, 2012 news release available on Terraco�s website and on SEDAR.
Terraco is fully funded to continue its 2012 exploration programs at its Almaden and Moonlight Projects.
To view this entire press release please visit: March 13th, 2012 Terraco Gold Press Release
Please always feel welcome to call at either of the numbers listed below.
Thank you as always for your time.
Matt
Please find the updated Terraco Gold Corporate Presentation contained in the link below: http://www.terracogold.com/i/pdf/Terraco_CorpPresentation.pdf
Please find the Terraco Gold Corporate Video with contained in the link below: Terraco Gold Corporate Video
Please visit our website at: http://www.terracogold.com/
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About Terraco Gold
Terraco Gold Corp. (TSX.V TEN | US: TCEGF), ("Terraco") project portfolio includes an advanced-stage gold project in Idaho, a Royalty Option on an evolving Nevada gold discovery and a neighbouring early-stage gold/silver project in Nevada, USA. The 100% owned Almaden Project is located 126 kilometres north of Boise, Idaho. The project hosts a National Instrument 43-101 compliant measured plus indicated and inferred resource of 948,000 ounces of gold within 90 m of surface. The advanced- stage Almaden project has excellent access with good infrastructure and includes over 66,000 m of drilling in 903 drill holes. Terraco has completed a drill program to explore the extension of the near surface mineralization that is open to the north and south, as well as test for high-grade, bonanza-style structurally controlled gold mineralization at depth. Project comparisons for Almaden are The Ken Snyder "Midas Mine" (Newmont) and the Hollister Mine (Great Basin Gold) located in northeast Nevada.
Terraco has the option to acquire a 2.5% net smelter royalty ("NSR royalty") on The Spring Valley Gold Project ("Spring Valley"), located in Pershing County, Nevada. Spring Valley is a joint venture between Barrick Gold Corp. ("Barrick") and Midway Gold Corp., where Barrick has the right to earn 60% interest in the project by completing work expenditures totalling US $30 million before December 31, 2013. Terraco's 100%-owned Moonlight Project, which currently encompasses over 5,000 acres, is located along trend and adjoins the north side of Spring Valley.
The 100% owned Moonlight Project is located 380 kilometres northeast of Reno, Nevada and approximately 8 kilometres north of the Coeur d'Alene Rochester silver-gold mine. The Rochester Mine has produced over 125 million ounces of silver and 1.2 million ounces of gold in its 25 year history and has recently returned to production.
Terraco's exploration is conducted by Charles Sulfrian , CPG (Vice President, Exploration) and Ken Snyder , PhD (Lead Consulting Geologist). Both Mr. Sulfrian and Dr. Snyder were instrumental in the discovery of major Nevada gold mines including Barrick's Goldstrike Mine and Newmont's Ken Snyder Midas Mine respectively. Matt W. Johnston 960-1055 West Hastings St. Vancouver, BC Canada V6E 2E9 Tel: 604.443.3835 Toll Free: 1.877.792.6688 Ext: 4 TSX.V: TEN | US: TCEGF www.terracogold.com
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Safe Harbor Statement
The material herein is for informational purposes only and is not intended to and does not constitute the rendering of investment advice or the solicitation of an offer to buy securities. The foregoing discussion contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The Act). In particular when used in the preceding discussion the words �plan,� confident that, believe, scheduled, expect, or intend to, and similar conditional expressions are intended to identify forward-looking statements subject to the safe harbor created by the ACT. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward looking statements. Such risks and uncertainties include, but are not limited to future events and financial performance of the company which are inherently uncertain and actual events and / or results may differ materially. Johnston-Sequoia Capital Corp. is a paid advisor and owns shares of Terraco gold Corp. Mr. Johnston owns shares in Terraco Gold Corp. We cannot attest to nor certify the correctness of any information in this e-mail. Please consult your financial advisor and perform your own due diligence before considering the company mentioned in this informational e-mail.
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