VANCOUVER,
Sept. 7, 2011 /PRNewswire/ - Jet
Gold Corp. (TSXV: JAU)(www.jetgoldcorp.com) today
announced the acquisition of 100% of the Kshish molybdenum/copper
property which is located 15 kilometres from Terrace, BC.
In completing the acquisition, JetGold has agreed
to a cash payment of $15,000 and
issuance of 150,000 shares to the vendor. The vendor will
continue to hold a 2% Net Smelter Royalty and the Company maintains
the right to purchase the NSR for $1,000,000. The acquistion is subject to exchange
approval.
In announcing the acquisition, JetGold president
& CEO, Brad Moynes stated,
"We believe the Kshish property will prove to be an important
and valuable asset in Jet Gold's precious metal holdings. It allows
the Company to continue to expand its position in the Terrace mining region and diversify into
additonal mineral forms."
The Kshish property covers an area of 4,082
hectares with elevations ranging from 400-1,500 metres and is
serviced by existing roads, including an access road just one
kilometre from the CN Rail line. The 730 hectare core property
consists of molybdenum geochemical anomalies occurring over
approximately five kilometres. A large block of additional claims,
over an area of 3,352 hectares, was staked by the company in
October 2007 based on its geological
work and anomalous BC Geologic Survey geochemical samples located
nearby on Lean-to Mountain.
Permitting has been filed for the Kshish property
and approvals are expected in the fall of 2011. Additional
information will be made available as it materializes.
JetGold is a Canadian resource exploration company
actively developing gold, silver, copper, zinc, molybdenum and
tellurium mineral resource properties in British Columbia, Canada. The company is
currently undertaking exploration of its three unique precious
metal properties: Big Hammer, Silver Bay and Kshish.
Big Hammer
Gold/silver/tellurium (Au/Ag/Te) property located 13 km
southeast of Terrace
Silver Bay
Silver/zinc (Ag/Zn) property located in west central
BC
Kshish Copper/ Molybdenum (Mo/Cu)
property located 15 km northeast of Terrace
JetGold is strategically investing in the
Terrace and Smithers mining districts of British Columbia based on excellent road
access, abundant power and water supply and close proximity to the
Fairview Terminal deep water container port in Prince Rupert. The port is an important part
of the Government of Canada's
"Asia-Pacific Gateway & Corridor Initiative" and the
Province of British Columbia's
"Pacific Gateway" strategy. Additional information at:
www.jetgoldcorp.com
On behalf of the Board of Directors,
Jet Gold Corp. (TSX.V: JAU)
"Brad J. Moynes"
Brad J. Moynes
President & CEO
JetGold Corp.
885 West Georgia Street, Suite 1500, Vancouver, BC V6C-3E8
T: 604-601-2070 / F: 604-683-8125
www.jetgoldcorp.com
Forward Looking Information:
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.
Statements containing forward-looking
information express, as at the date of this news release, the
Company's plans, estimates, forecasts, projections, expectations or
beliefs as to future events or results and are believed to be
reasonable based on information currently available to the
Company.
Forward-looking statements and information are
based on assumptions that financing and personnel will be available
when required and on reasonable terms, and all necessary regulatory
approvals and shareholder approval will be obtained, none of which
are assured and are subject to a number of other risks and
uncertainties
There can be no assurance that forward-looking
statements will prove to be accurate. Actual results and future
events could differ materially from those anticipated in such
statements. Readers should not place undue reliance on
forward-looking information.
SOURCE Jet Gold Corp.