Questions? +1 (202) 540-8337 Login
Trusted News Since 1995
A service for mining industry professionals · Friday, October 19, 2018 · 465,599,400 Articles · 3+ Million Readers

Currie Rose Announces Option Deal On Historic Rossland Gold Project, British Columbia

TORONTO, April 13, 2018 (GLOBE NEWSWIRE) -- Currie Rose Resources Inc. (TSXV:CUI) ("Currie Rose" or the "Company") is pleased to announce that the Company has secured two Option Agreements over the Rossland Project (the “Project”) which together, cover approximately 2,000 Ha of the Rossland Mining Camp that produced more than 2.7 million ounces of gold, 3.5 million ounces of silver and 71 tonnes of copper between 1894 and 1941 and ranks as the third largest lode gold camp in British Columbia.

The Company is working through the extensive historical data and work to date has identified over 8 priority targets for immediate exploration evaluation noting that historical mining activities in the area ceased for reasons other than an absence of mineralization.

Under the terms of the Agreements, which are subject to TSX Venture Exchange approval, Currie Rose has the right to acquire 100% of the Rossland Project from two private companies (0704723 BC Ltd and 0811662 BC Ltd) via a 3-stage option:

Stage 1 – 12 months

  • Upfront payment of $50,000 and issue of 1m Currie Rose shares for each company;
  • Minimum expenditure of $500,000 for each company;
  • Investment by Currie beyond the first year, will be contingent on positive results.

Stage 2 – 12-24 months

  • Payment of $75,000 and issue 1.5m Currie Rose shares for each company;
  • Minimum expenditure of $750,000 for each company.

Stage 3 - 24-48 months

  • Funding and completing a Feasibility Study  - one study to apply to both companies;
  • Payment of $100,000 and issue 2m Currie Rose shares on the 3rd anniversary (per company);
  • Payment of $100,000 and issue 2m Currie Rose shares on the 4th anniversary (per company).

On completion of the Feasibility study or the payment obligations, the Company will own 100% of the Project and will grant separately, to each company, a 2% Net Smelter Return (NSR) with Currie Rose having an option to purchase from each company one-half (1%) of the NSR for payment of $1m.

Michael Griffiths, Currie’s President and CEO, commented; “The Rossland Project covers a large proportion of the Rossland Mining Camp which surrounds the former Le Roi, War Eagle and Centre Star Gold mines. This is an advanced brownfields play with little modern exploration having been undertaken due to previous fragmented ownership. The Company recognises the potential both along strike from the former producing mines as well as other underexplored vein gold targets.

“In addition, historical records identify significant molybdenite, zinc and cobalt mineralisation within the Camp and we plan to investigate these metals as part of our exploration activity and overall district scale focus. This is a very exciting development for the Company and our shareholders.”

/EIN News/ -- About Currie Rose Resources Inc.

Currie Rose is a precious metal explorer focused on identifying high value assets in Canada. Our current projects span British Columbia and Ontario with our immediate focus on the recently acquired Rossland Project in BC.

Technically strong and corporately nimble, we seek to add value through targeted exploration.

Neither the 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.

This news release may contain forward-looking statements that are based on the Company’s expectations, estimates and projections regarding its business and the economic environment in which it operates. Statements about the closing of the transaction, expected terms of the transaction, the number of securities of Currie Rose that may be issued in connection with the transaction, and the parties' ability to satisfy closing conditions and receive necessary approvals are all forward-looking information.  These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

Mike Griffiths, CEO               Catherine Beckett, Manager Corporate Affairs
Office: 905-688-9115               Office: 905-688-9115
Email:               Email:

Primary Logo

Powered by EIN News