MESA, Ariz., Sept. 13, 2010 (GLOBE NEWSWIRE) -- B2 Digital (Pink Sheets:BTDG), dedicated to seeking acquisitions and joint ventures within the resource sector and in particular mining properties that contain gold and silver reserves, today announces its Board of Directors has executed a Definitive Joint Venture Agreement with Firma Gold, Inc. The Definitive Joint Venture Agreement pertains to the mining exploration leases owned by Firma Gold Inc. in Landrienne and Courville, Quebec.
The Definitive Joint Venture Agreement between Firma Gold, Inc. and B2 Digital Inc. includes terms and conditions customary for transactions similar in nature.
Under the terms of the Agreement, B2 Digital, Inc. will immediately assume management control of all the exploration leases owned by Firma Gold in Ladrienne and Courviile Quebec as the Managing JV Partner. Additionally, B2 Digital will be responsible for funding the exploration, operation, and, if required, the disposition of the Firma Gold properties. In return, B2 Digital, Inc. will receive 90% of the net profit after deduction of any capital or operating costs incurred in their role as JV Managing Partner. Firma Gold will receive 10 percent of the net profit under terms of the Joint Venture Agreement.
Stephane LeBlanc, President of Firma Gold, Inc. said, "We are extremely pleased to welcome B2 Digital as our Managing Joint Venture Partner and look forward to utilizing their fresh approach and enthusiasm to help extract maximum value from our Quebec properties located in the Val D'Or and Malartic regions, both of which are well known to be extremely rich in gold," Mr. LeBlanc continued, "Based upon an NI 43-101 technical report drilled to 50 meters, the geologists have estimated gold reserves of over 1.5 million ounces."
B2 Digital, Inc. President, Paul LaBarre, stated, "We are excited to assume control of mining leases with such strong potential. It is a great addition to our portfolio of mining assets." Mr. LaBarre went on to say, "This partnership gives us access to additional exploration upside, with minimal risk and we look forward to a long and mutually beneficial relationship with our JV Partners at Firma Gold."
About B2 Digital
B2 Digital is dedicated to seeking acquisitions and joint ventures within the resource sector and in particular mining properties that contain gold and silver reserves. Management of its subsidiary has many years of experience in the exploration and operations of mining assets. B2 Digital is currently in the process of divesting itself of some of its technology assets. More information on B2 Digital can be found at www.b2digital.us.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risk and uncertainties, including but not limited to those detailed from time to time in the Company's filings with PinkSheets.com. Mining projects are subject to numerous risk factors including changing regulations, volatile commodity prices, and others factors that may preclude production should commercially viable reserves be established on a property and exploration plans dependent on funding and approval of any required permits.