VANCOUVER, Feb. 3, 2017 /CNW/ - NxGold Ltd. ("NxGold Ltd." or the "Company"), (NXN:TSXV) is pleased to announce that the earn-in agreement made as of October 25, 2016 between the Company and Meliadine Gold Ltd has been amended and restated to expand the prospective terms of any joint venture agreement to be entered into upon the Company earning either a 50% or 70% interest in the Peter Lake Gold Property, as set forth in Schedule B to that agreement. The earn-in agreement is otherwise unamended and remains in full force and effect.
NxGold is a Vancouver-based exploration Company. NxGold has an exclusive option to earn up to a 70% interest in the Peter Lake Gold Property. The Peter Lake Gold Property is located approximately 40 km northwest of Rankin Inlet, Nunavut. The Property covers 4,174 hectares immediately along trend from Agnico Eagle's advanced Meliadine Gold project (with applications pending to increase the size of the Property to 10,670 hectares).
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE NxGold Ltd.
For further information: Travis McPherson, Vice-President, Corporate Development, NxGold Ltd., +1 604 428 4112, firstname.lastname@example.org