Trading Symbol: TSX-V: RGZ
TORONTO, Aug. 22 /CNW/ - Randsburg International Gold Corporation (TSX-V:
RGZ) announced today that it has agreed to settle all outstanding matters
between it and Duncan Park Holdings Corporation ("DPH") with respect to the
Elephant Property in Nevada. These matters had been subject to arbitration
proceedings requested by Randsburg.
Pursuant to the agreement between Randsburg and DPH (the "Agreement"),
Randsburg has agreed to sell its interest in the Elephant Property to DPH in
exchange for receiving $50,000 in cash and 2.0 million common shares of DPH.
The shares of DPH are listed for trading on the TSX-V under the symbol: DPH.
Prior to the Agreement, the Elephant Property, located at the Battle
Mountain mining district, Nevada, had been the subject of a joint venture
agreement between Randsburg and DPH. Upon completion of the acquisition of
Randsburg's interest, DPH will hold a 100% interest in the property.
The agreement between the parties remains subject to regulatory approval.
ABOUT RANDSBURG INTERNATIONAL GOLD CORPORATION:
Randsburg International Gold Corporation is a Canadian exploration
company listed on the TSX Venture Exchange (Symbol TSX-V: RGZ). The Company is
engaged in exploring for diamonds, titanium, iron, precious and base metals,
and platinum group metals (PGMs) in Brazil, Canada and Idaho. The Company has
three active exploration projects.
1. Victory Strike diamond project in Brazil - 85% owned;
2. Titan Project (iron-titanium-vanadium) in Northern Ontario - 100%
3. Empire Project (copper-gold-silver-zinc)-Idaho - a 75% owned Joint
On behalf of the Board of Directors of
Randsburg International Gold Corp.
President and Chief Executive Officer
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Copyright, 2008 Randsburg International Gold Corporation. This news
release can be reproduced and retransmitted in whole, with no changes
permitted of any kind, including headlines, or the addition of any headlines
or other material, and providing it is supplied and made available without
charge to the end reader.
For further information:
For further information: Michael Opara, President and Chief Executive
Officer, E-mail: email@example.com, Website: