VANCOUVER, Dec. 12, 2018 /CNW/ - NxGold Ltd.
("NxGold" or the "Company"), (TSXV: NXN) is
pleased to announce the grant of the previously pending tenements
at the Mt Roe project in the Pilbara region of Western
Australia.
The Company will now be able to commence exploration on these
newly granted prospecting licences. The geology of this area
will be reviewed and a program similar to that which has occurred
on the Roe and Prinsep tenements will be implemented in the New
Year. These tenements cover a known nugget patch called
"80oz" and an area proximal to a nugget patch called "Pineapple"
that appears to trend up onto the newly granted tenements.
The total area of the newly granted Prospecting Licences is
approximately 325 ha.
Christopher McFadden,
Chief Executive Officer commented, "Now that these tenements
have been granted and subject to the approval of Programmes of
Work, we can extend our systematic and detailed exploration onto
these newly granted tenements. The grant of these tenements
has almost doubled the area of land that we can explore at the Mt
Roe project and we look forward to bringing these new areas up to
the same level of understanding that we have developed on the rest
of the project over the past year."
Neither TSX Venture Exchange nor its Regulations Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
About NxGold
NxGold is a Vancouver-based exploration company. The
Company owns 80% of the Mt. Roe gold project located in the Pilbara
region of Western Australia. The Company has also
entered into an earn-in agreement with Meliadine Gold Ltd. to earn
up to a 70% interest in the Kuulu Project (formerly known as the
Peter Lake Gold Project) in Nunavut.
Cautionary Statement Regarding "Forward-Looking"
Information
This news release contains "forward-looking information"
within the meaning of applicable Canadian securities legislation.
"Forward-looking information" includes, but is not limited to,
statements with respect to activities, events or developments that
the Company expects or anticipates will or may occur in the future
including whether the proposed acquisition will be completed.
Generally, but not always, forward-looking information and
statements can be identified by the use of words such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes" or the
negative connotation thereof or variations of such words and
phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" or the negative connotation thereof.
Such forward-looking information and statements are based on
numerous assumptions, including among others, that general business
and economic conditions will not change in a material adverse
manner, that financing will be available if and when needed and on
reasonable terms, and that third party contractors, equipment and
supplies and governmental and other approvals required to conduct
the Company's planned exploration activities will be available on
reasonable terms and in a timely manner. Although the assumptions
made by the Company in providing forward-looking information or
making forward-looking statements are considered reasonable by
management at the time, there can be no assurance that such
assumptions will prove to be accurate.
Forward-looking information and statements also involve known
and unknown risks and uncertainties and other factors, which may
cause actual events or results in future periods to differ
materially from any projections of future events or results
expressed or implied by such forward-looking information or
statements, including, among others: negative operating cash flow
and dependence on third party financing, uncertainty of additional
financing, no known mineral reserves or resources, reliance on key
management and other personnel, potential downturns in economic
conditions, actual results of exploration activities being
different than anticipated, changes in exploration programs based
upon results, and risks generally associated with the mineral
exploration industry, environmental risks, changes in laws and
regulations, community relations and delays in obtaining
governmental or other approvals.
Although the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information or implied by
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that forward-looking information and statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company undertakes
no obligation to update or reissue forward-looking information as a
result of new information or events except as required by
applicable securities laws.
SOURCE NxGold Ltd.