HAYDEN, ID, March 7, 2013 /CNW/ - Americas Bullion Royalty Corp. (TSX: AMB) (the "Company") is pleased to announce that it has created a new
royalty interest by entering into an Option Agreement to sell the
Company's 50% joint venture interest in the Angel's Camp Property in
southern Oregon to Orsa Ventures Corp. (Orsa). As consideration, Orsa
will issue one million common shares to the Company upon closing and
$390,000 in cash over several years. Americas Bullion Royalty Corp.
will retain a 1.25% Net Smelter Return Royalty on the project.
About Angel's Camp
The Angel's Camp Project is comprised of 158 unpatented lode mining
claims which encompass approximately 3,000 acres adjacent to Orsa's
Quartz Mountain Property which is held by separate agreement with
Seabridge Gold Inc. The Quartz Mountain Property is an epithermal hot
spring system with a 2.85 million ounce Inferred gold resource of
110,448,000 tonnes grading 0.80 grams per tonne gold (see Orsa news
releases dated October 24, 2011 and February 15, 2012). Mineralization
is hosted in two rhyolite domes known as Quartz Butte and Crone Hill.
Lying adjacent to the defined resource of the Quartz Mountain Property,
the Angel's Camp Project contains several other rhyolite domes which
are known to host epithermal gold mineralization as identified by
surface sampling as well as a number of drill holes (news releases of
May 29 and Sept 11, 2009). Orsa has advised that it will launch an
aggressive exploration program on these additional domes in addition to
its continuing development work at Quartz Mountain.
Prior to this agreement, Orsa was the non-managing partner of the 50%
joint venture interest in Angel's Camp through an Option Agreement with
Seabridge Gold Inc.
The Company's Agreement with Orsa is subject to regulatory approval.
The technical content of this news release has been reviewed and
approved by Michael Maslowski, BSc, CPG, the Company's Chief Operating
Officer and a Qualified Person as defined by National Instrument
Americas Bullion Royalty Corp.
Americas Bullion Royalty Corp. is a precious metals royalty and
streaming company designed to provide revenue as well as lower risk
exposure to shareholders through project diversity in stable,
mining-friendly jurisdictions. The Company's existing 34 property
portfolio, comprising more than 100,000 acres predominantly in Nevada,
is highlighted by Gross in-kind Royalties on Midway Gold's Pan and Gold
Rock deposits, as well as 2 separate projects encompassing more than 34
square miles at Barrick Gold's Bald Mountain project in Nevada.
Current royalty revenue is expected to accelerate as early as 2014 as
several of these projects commence production. Americas Bullion Royalty
Corp.'s prime royalty portfolio is unique in the mineral development
industry due to its ability to receive the majority of projected
revenues in-kind (gold bullion as opposed to cash), its possession of gross royalties
with no exposure to operator cost, as well as its security of title
with no buyback or buyout provisions.
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein. This
press release contains projections and forward-looking information that
involve various risks and uncertainties regarding future events. Such
forward-looking information can include without limitation statements
based on current expectations involving a number of risks and
uncertainties and are not guarantees of future performance. There are
numerous risks and uncertainties that could cause actual results and
Americas Bullion's plans and objectives to differ materially from those
expressed in the forward-looking information. Actual results and future
events could differ materially from those anticipated in such
information. These and all subsequent written and oral forward-looking
information are based on estimates and opinions of management on the
dates they are made and are expressly qualified in their entirety by
this notice. Except as required by law, Americas Bullion assumes no
obligation to update forward-looking information should circumstances
or management's estimates or opinions change.
SOURCE: Americas Bullion Royalty Corp.
For further information:
Americas Bullion Royalty Corp.
Janet Lee-Sheriff, Vice President
Scott Powell, Director of Investor Relations