VANCOUVER, British Columbia,
April 5, 2013 /PRNewswire/
-- Linux Gold Corp. (OTCBB: LNXGF), is pleased to
announce that it has signed a teaming agreement with Kenn Roberts, of Marfa, Texas to produce gold from a unique
placer mining technology. Linux Gold Corp. has a 45 day
option and agrees to pay US$1,000 for
the teaming agreement. 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.
Linux Gold Corp. plans to use this placer process initially on
the Dime Creek gold and platinum claims. The Dime Creek
property has been a former producer of gold and platinum from the
previous placer operation.
Placer and Lode drilling is also planned on the property to
evaluate the Placer and Platinum targets, as recommended by
Tom Buntzen, professional
geologist.
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.
