VANCOUVER, British Columbia,
June 6, 2013 /PRNewswire/
-- Linux Gold Corp. (OTCBB: LNXGF), is pleased to
announce that it has agreed to extend the teaming agreement with
Kenn Roberts, of Marfa, Texas to produce gold from a unique
placer mining technology. The agreement, originally executed
April 5, 2013, has now been extended
to July 15, 2013. The teaming
agreement is earned by Linux Gold Corp. funding the gold extraction
technology for a cost of US$32,000.
Linux Gold will earn a dividend amount of 50% and Kenn Roberts will earn a 50% interest after
funding is no longer required. In the initial stage, 20% of
all gold recovered will be allocated to Linux Gold as to 10% and
Kenn Roberts as to 10%, until the
operational funding is no longer required. The parties will
then revert to a 50% net profit for Linux Gold Corp. and 50% to
Kenn Roberts.
Kenn Roberts states, "A new
placer drill project will commence to test the insitu placer
process upon identifying a known placer pay streak."
ABOUT LINUX GOLD CORP.
Linux Gold Corp. symbol LNXGF is involved with exploration of
mineral properties:
Dime Creek on the eastern Seward
Peninsula of Alaska, Linux
Gold Corp. owns a 100% interest in a strip of 12 contiguous
State of Alaska mining claims.
Linux owns a 5% royalty interest in the Fish Creek property
until $2,000,000 is received. With a
buy in option for a 25% interest within one year from production in
lieu of the 5% royalty interest.
For more information on the Company please visit
www.linuxgoldcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"John Robertson"
John Robertson, President
Phone Contact: John
Robertson 800-665-4616
READER ADVISORY
This news release may contain certain forward-looking
statements, including management's assessment of future plans and
operations, and capital expenditures and the timing thereof, that
involve substantial known and unknown risks and uncertainties,
certain of which are beyond the Company's control. There can
be no assurance that such statements will prove accurate, and
actual results and developments are likely to differ, in some case
materially, from those expressed or implied by the forward-looking
statements contained in this press release. Readers of this press
release are cautioned not to place undue reliance on any such
forward-looking statements.
Forward-looking statements contained in this press release
are based on a number of assumptions that may prove to be
incorrect, including, but not limited to: timely implementation of
anticipated drilling and exploration programs; the successful
completion of new development projects, planned expansions or other
projects within the timelines anticipated; the accuracy of reserve
and resource estimates, if any, grades, mine life and cash cost
estimates; whether mineral resources can be developed; title to
mineral properties; financing requirements; changes in laws, rules
and regulations applicable to Linux, and changes in how they
are interpreted and enforced, delays resulting
from or inability to obtain required regulatory approvals and
ability to access sufficient capital from internal and external
sources, the impact of general economic conditions in Canada, and the
United States, industry conditions, increased
competition, the lack of availability of qualified personnel or
management, fluctuations in foreign exchange, stock market
volatility and market valuations of companies with respect to
announced transactions. The Company's actual results, performance
or achievements could differ materially from those expressed in, or
implied by, these forward-looking statements, including those
described in the Company's Financial Statements, Management
Discussion and Analysis and Material Change Reports filed with the
Canadian Securities Administrators and available at www.sedar.com,
and the Company's 20-F annual report filed with the United States
Securities and Exchange Commission at www.sec.gov.
Accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or
occur, or if any of them do so, what benefits, including the amount
of proceeds, that the Company will derive there from.
Readers are cautioned that the foregoing list of factors is
not exhaustive. All subsequent forward-looking statements, whether
written or oral, attributable to the Company or persons acting on
its behalf are expressly qualified in their entirety by these
cautionary statements. Furthermore, the forward-looking statements
contained in this news release are made as at the date of this news
release and the Company does not undertake any obligation to update
publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required by applicable securities
laws.
SOURCE Linux Gold Corp.
