Regency Acquires Gold Project in Nevada
December 17 2010 - 8:00AM
Marketwired
Regency Gold Corp. (TSX VENTURE: RAU.H) (the "Company") is pleased
to announce it has acquired a 100-per-cent interest in the Agate
Pass property located in Eureka County, Nevada. The Company paid
the first annual advance royalty of US$10,000 on signing the lease
which escalates to US$50,000 by year five. To maintain the lease
the Company will pay annual escalating advance royalty payments
against a 3% net smelter return ("NSR") royalty. The Company will
have the option to buy back up to 2 points of the NSR for
US$1,000,000 a point.
This transaction is subject to regulatory approval.
This news release contains forward-looking statements that are
based on the Company's current expectations and estimates.
Forward-looking statements are frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such
forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans to
continue to be refined; possible variations in ore grade or
recovery rates; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or
financing; and fluctuations in metal prices. There may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise. Forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty therein.
"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: Regency Gold Corp. Bill Radvak Chairman and CEO (778)
888-4101 billradvak@shaw.ca
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