TSX VENTURE SYMBOL "MC"
CALGARY, Dec. 4 /CNW/ - MILL CITY GOLD CORP. ("Mill City" and/or the "Company") announces that, further to its option and joint venture agreement made as of December 12, 2007 with Temex Resources Corp. ("Temex") (TSX.V-TME) to acquire a 50% interest in 64 staked mining claims (the "Claims") totaling 1,012 mining claim units (16,192 ha) located in the Sachigo Greenstone Belt in the James Bay Lowlands region of Northern Ontario, Mill City has given notice to Temex of its intention to extend the time for completion of work commitments required on the Claims of $500,000 by December 12, 2009 and an additional $1,500,000 by December 12, 2010 for one year (the "Extension").
The Extension will require the Company to issue 250,000 common shares (the "Extension Shares") to Temex and is subject to TSX Venture Exchange approval. Mill City intends to apply to the TSX Venture Exchange for approval of said Extension and, if such approval is obtained, will issue the Extension Shares promptly thereafter. The Extension Shares will be subject to a four-month hold period.
ON BEHALF OF THE BOARD OF DIRECTORS
"James R. Brown"
James R. Brown
Chairman, President & CEO
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 MILL CITY GOLD CORP.
For further information: For further information: James R. Brown at (403) 640-0110 or visit the Company's website at www.millcitygold.com