/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
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TORONTO, Jan. 9, 2013 /CNW/ - Micon Gold Inc. (now amalgamated as
Jubilee Gold Exploration Ltd.) (the "Company"). This press release is being disseminated as required by National
Instrument 62‐103 The Early Warning System and Related Take Over Bids and Insider
Reporting Issues in connection with the filing of an early warning report (the "Early Warning Report") regarding the issuance of Orefinders Resources Inc. ("Orefinders") securities to the Company of 80 Richmond Street West, Suite 605,
Toronto, Ontario, Canada.
As a result of an Option Agreement dated January 19, 2012 between the
Company and Fechi Inc. (the "Option Agreement"), the Company acquired securities of Orefinders. On January 1, 2013,
the Company amalgamated with Jubilee Gold Inc. and Ansil Resources Ltd.
to form Jubilee Gold Exploration Ltd.
Pursuant to the Option Agreement, Orefinders issued the Company
14,117,143 common shares in the capital of Orefinders and 1,694,571
common share purchase warrants (collectively, the "Orefinder Securities") upon the listing of Orefinders shares on the TSX Venture Exchange on
December 17, 2012. The 14,117,143 common shares and 1,694,571 common
share purchase warrants represent 30% of the issued shares and warrants
of Orefinders at the date of listing.
The Orefinder Securities are subject to an escrow agreement dated
October 15, 2012 that the Company signed pursuant to which 10% of the
Orefinder Securities will be released at listing and 15% each six
The Orefinder Securities were issued pursuant to an option agreement
between the Company and Fechi Inc which it assigned to Orefinders and
the Company may increase or decrease its beneficial ownership or
control depending on market or other conditions.
A copy of the Early Warning Report may be found on www.SEDAR.com
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: JUBILEE GOLD INC.
For further information:
Sigrid I. Ades
Telephone: (416) 364-0042