VANCOUVER,
Aug. 14, 2012 /PRNewswire/ - Radius
Gold Inc. (TSXV: RDU) is pleased to announce the closing of the
sale of two of its Nicaraguan projects to B2Gold Corp., as per our
previous news release of April 9,
2012. To buy Radius's interest in the projects, B2Gold has
issued 4,815,894 of its common shares to Radius.
A separate agreement has also been signed
covering future contingent payments by B2Gold to Radius of
$10 (U.S.) per ounce of gold on 40
per cent of any proven and probable mineral reserves in excess of
500,000 ounces outlined at Trebol (on a 100-per-cent basis).
Ralph Rushton,
the President of Radius, said: "We're pleased to have closed the
sale of Trebol and El Pavon with our partner, B2Gold. The complex
agreement took longer to draft than anticipated but we're finally
there and we now have a strong treasury with which to carry out our
precious metals exploration programs."
Also signed are 60:40 (B2Gold:Radius) joint
venture agreements over the San Jose and La Magnolia properties in
Nicaragua which the companies will
jointly explore.
About Radius
Radius has been exploring for gold in
Latin America for over a decade.
It has assembled interests in a portfolio of promising gold
projects in Guatemala and
Nicaragua, and a number of 100%
owned exploration plays, including extensive landholdings in
southern Guatemala.
ON BEHALF OF THE BOARD
"Simon Ridgway"
Chairman and CEO
Investor relations: Jaclyn
Ruptash
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 86.6-million
Neither the TSX Venture Exchange nor the
Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this
release.
Forward-Looking Statement
Some of the statements in this news release contain
forward-looking information that involves inherent risk and
uncertainty affecting the business of Radius Gold Inc. Actual
results may differ materially from those currently anticipated in
such statement.
SOURCE Radius Gold Inc.
