28-Mar-2016
BCGold Corp. Announces Wels Property Purchase Not Proceeding
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Vancouver, British Columbia, March 28, 2016 (TSX-V: BCG) - BCGold Corp. ('BCGold' orthe 'Company') announces that it has received notice from Gorilla Minerals Corp., ('Gorilla') that it will not agree
to an extension to the March 31, 2016 deadline to close the previously disclosed property agreement between BCGold and Gorilla, as a result of which the Transaction will not proceed. This is in spite of the fact that the extension was intended to accommodate the fact that Gorilla had called its shareholder's meeting to approve the Transaction for April 12, 2016.
BCGold regrets this action of Gorilla in refusing to consent to the extension as BCGold, acting in good faith, had taken all the required steps to be in a position to close the Transaction in a timely manner.
About BCGold
BCGold is a Vancouver-based junior resource company that has been listed on the TSX Venture exchange for 10 years, with a focus on copper and gold exploration in historic and emerging mining districts in British Columbia and Yukon. The Company acquires prospective gold and copper-gold exploration properties considered to have significant mineral potential by staking, option or purchase agreements. The Company strives to acquire 100% of these opportunities and after cost-effective and diligent exploration to develop drill targets,option 51-70% of these properties to third parties in return for some multiple of the Company's expenditures.The Company currently has a portfolio of 10 - 100% owned gold and copper-gold properties and 2 partially owned gold properties in B.C. and Yukon. BCGold is actively seeking qualified option partners to advance these properties.
On behalf of the Board of Directors,
Brian P. Fowler, P. Geo.
President & CEO
For further information, please contact:
Brian P. Fowler
Tel: 604-697-2401
Email: [email protected]
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.
Some statements in this news release contain forward-looking information or forward-looking statements. These statements include, but are not limited to, statements with respect to future expenditures and exploration, development and production activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing and completion of contemplated financings, the actual use of proceeds, receipt of regulatory approvals and the timing and success of future exploration, development and production activities. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.