Green Swan Continues With Acquisition Strategy in British Columbia's Golden Triangle
(firmenpresse) - BURLINGTON, ONTARIO -- (Marketwire) -- 03/14/12 -- Green Swan Capital Corp. ("Green Swan") (TSX VENTURE: GSW) today announced it has agreed to purchase an additional seven mineral tenures in British Columbia's Golden Triangle, in a highly prospective mineralized belt. These tenures cover 1577 hectares and are collectively known as "AshleyGold".
The Agreement
Subject to a Net Smelter Royalty, Green Swan has agreed to purchase a 100% interest in AshleyGold in consideration of the issuance of 225,000 shares (at an agreed price of $0.25 per share), and 50,000 Warrants. Each Warrant shall have a twelve-month term, be non-transferable, be subject to industry standard adjustments, and entitle the holder to purchase one fully paid GSW common share at an exercise price of $0.35. The Net Smelter Royalty is equal to two point five per cent, half of which may be purchased at Green Swan's option at any time for $1,000,000, and which is subject to adjustment in the event of certain corporate activities. The closing of this acquisition is subject to the approval of the TSX Venture Exchange.
The Golden Triangle and the Northwest Transmission Line
The Golden Triangle is British Columbia's foremost gold and silver district. It is richly mineralized, containing gold, silver, copper, lead, zinc, molybdenum and anthracite coal, and is home to current and past producers. Green Swan already owns fourteen tenures in the Golden Triangle, with another six in southeastern British Columbia.
The British Columbia and federal governments are stimulating development in this area by jointly constructing the 344 kilometre, 287 kilovolt "Northwest Transmission Line" into the heart of the Golden Triangle, at a cost of $404 million. According to information available at B.C. Hydro's website, the Northwest Transmission Line will be in service by the spring of 2014.
AshleyGold
AshleyGold's northern border is less than two kilometers (border to border) from Pretium Resources Inc.'s Brucejack Property and the Valley of the Kings, and less than two kilometers (border to border) from Seabridge Gold Inc.'s KSM Project.
To the east and the north, AshleyGold is bordered directly by Teuton Resources Corp.'s High Property. On January 11, 2012, Teuton announced that it would carry out a million-dollar drill program on High in 2012, immediately south of the border that Teuton shares with Pretium.
To the southeast, AshleyGold is bordered by Teuton's Four J's Property, which in 2011 was optioned to Rotation Minerals Ltd. Green Swan has no knowledge of that company or of its plans for Four J.
The Orion Property (Teuton) borders AshleyGold to the west.
Bordering on AshleyGold's south in the Tennyson Property. Recently, on February 27, 2012, Teuton announced that it had optioned Tennyson to a private company in the Hunter-Dickinson Inc. group, in a transaction valued at $7,500,000.
AshleyGold is less than 7 kilometres north of Castle Resources Inc.'s Grand Duc Copper Project, which on February 21, 2012 announced a major increase in its mineral resource, by way of an updated NI 43-101 compliant resource estimate.
All of the above situates AshleyGold in a highly prospective mineralized belt near:
Please see each issuer's filings at for details and qualifications on each issuer's own data.
About Green Swan Capital Corp.
Green Swan is engaged in the exploration and, if warranted, development and mining of its properties as well as the acquisition, exploration and potential development of other mineral resource properties. Green Swan communicates with its shareholders and the investing public directly and with the assistance of CHF Investor Relations. The common shares of Green Swan are listed on the TSX Venture Exchange under the trading symbol "GSW". Pending closing of the transactions contemplated above, GSW has 17,145,417 shares outstanding.
To receive Green Swan news by email contact with "Green Swan News" in the subject line.
Forward-Looking Statements
This news release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Green Swan cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what Green Swan currently foresees. Discussion of the various factors that may affect future results is contained in Green Swan's recent filings, available on SEDAR. Green Swan assumes no liability for repeating or referring to any facts, statements, releases, data or reports disseminated by any other issuer. Any reference to any other issuer should be cross-checked for accuracy and context by the reader.
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.
Contacts:
Green Swan Capital Corp.
Peter M. Clausi
855 Brant St
Burlington, ON
L7R 2J6
CHF Investor Relations
Cathy Hume
90 Adelaide St W, Ste 600
Toronto, ON
M5H 3V9
CHF Investor Relations
Stephanie Fitzgerald
90 Adelaide St W, Ste 600
Toronto, ON
M5H 3V9
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Datum: 14.03.2012 - 15:16 Uhr
Sprache: Deutsch
News-ID 1092965
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