HAYDEN, ID, March 21, 2013 /CNW/ - Americas Bullion Royalty Corp. (TSX: AMB) (the "Company") is pleased to announce that it has entered into an
option agreement to sell the Company's 40% joint venture interest in
the Phoenix Property in Nevada to Battle Mountain Gold Inc., a private
corporation ("BMG"). As consideration, BMG will pay $50,000 in cash and
issue two million common shares at a value of $0.15 per share at
closing, $50,000 in cash six months after closing and $1.6 million in
cash or BMG common stock, assuming certain minimum valuations, twelve
months after closing.
The Phoenix Joint Venture Project, a/k/a the Lewis Property, is directly
contiguous with the Phoenix Mine placed into production by Newmont
Mining in late 2006. Previous operators at Lewis focused their
exploration efforts on the Virgin Zone, a major
structural-stratigraphic corridor which hosts a portion of the
mineralization at Newmont's adjacent Phoenix Mine. Their programs
confirmed that the Virgin Zone extends onto the Lewis Property within a
similar geological environment, for up to 4.5 km of potential strike
length. 224 drill holes have been drilled on the project by the
Operator of the Joint Venture.
The Company's Agreement with BMG has received 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.
Scott Powell, Director of Investor Relations
Janet Lee-Sheriff, Vice President Communications and First Nation Relations