VANCOUVER, British Columbia, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Independence Gold Corp. (TSX.V: IGO) ("Independence" or "the Company") is pleased to announce the sale of the Henderson, Flow and Birdman Properties to White Gold Corp. (“White Gold”). These properties are located in the White Gold District of the Yukon and are contiguous to other properties already held by White Gold.
Henderson: Under the terms of the property purchase agreement, White Gold will acquire a 100% interest in the Henderson Property in exchange for $25,000 in cash and 100,000 common shares of White Gold. Independence will retain a 1% net smelter return royalty interest in the Property with a buy back option of $2,000,000.
Flow: Under the terms of the property purchase agreement, White Gold will acquire a 100% interest in the Flow and Wolf Creek Properties in exchange for $10,000 is cash and 50,000 common shares of White Gold. Independence will retain a 1% net smelter return royalty interest in the Properties with a buy back option of $1,000,000.
Birdman: Under the terms of the property purchase agreement, White Gold will acquire a 100% interest in the Birdman Property in exchange for 10,000 common share of White Gold.
These transaction remains subject to TSX Venture Exchange acceptance.
About Independence
Independence Gold Corp. (TSX.V:IGO) is a mineral exploration company listed on the TSX Venture Exchange. With a portfolio of projects in the Yukon and the 3Ts Project in British Columbia, the Company’s holdings range from early-stage grassroots exploration to advanced-stage resource expansion. For additional information, visit the Company's website www.ingold.ca.
Kendra Johnston, P.Geo., the Company’s Qualified Person as defined by National Instrument 43-101 for the White Gold District projects, has reviewed the technical information in this news release.
ON BEHALF OF THE BOARD of Independence Gold Corp.
“Kendra Johnston”
President and Director
For further information please contact Kendra Johnston at 604-687-3959 or info@ingold.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Independence within the meaning of applicable securities laws, including statements with respect to the Company’s planned drilling and exploration activities. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Independence’s public filings under Independence Gold Corp.’s SEDAR profile at www.sedar.com. Although Independence has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Independence disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.