Cascabel Copper Porphyry Earn-In Agreement Re-negotiated 19th February 2013

Cascabel Copper Porphyry Earn-In Agreement Re-negotiated

 Highlights:

  • SolGold acquires initial 20% holding in Exploraciones Novomining S.A ("ENSA"), a wholly-owned Ecuadorian subsidiary of Cornerstone Capital Resources Inc ("Cornerstone") which owns 100% of the Cascabel copper gold porphyry and the La Encrucijada porphyry and epithermal gold projects.
  • SolGold has the right to acquire up to 85% of ENSA by completing equity placements totalling C$1.2Million in Cornerstone and completing the phase 1, 2,500 metre drill program at Cascabel, planned to commence in or around May 2013.
  • SolGold's interest is a direct and immediate equity interest in ENSA as a registered shareholder.
  • Total expenditure commitment for the earn-in phase reduced from C$7.8Million to C$2.5Million.
  • Preparations well advanced for drilling on Cascabel subject to completion of permitting anticipated in April 2013.
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