Trading Symbol: TSX-V: RGZ
TORONTO, Aug. 29 /CNW/ - Randsburg International Gold Corporation (TSX-V:
RGZ) announced today that it has completed the previously announced sale of
its interest in the Elephant Property in Nevada to Duncan Park Holdings
Corporation. Randsburg and Duncan Park have also settled all outstanding
matters between the parties, which had been the subject of arbitration.
The Elephant Property, located in the Battle Mountain mining district,
Nevada, had been the subject of a joint venture agreement between Duncan Park
and Randsburg. With the acquisition of Randsburg's interest, Duncan Park holds
a 100% interest in the property.
Duncan Park has paid Randsburg $50,000 in cash and issued to Randsburg
2,000,000 common shares of Duncan Park in connection with the acquisition of
Randsburg's interest in the Elephant Property. The common shares issued to
Randsburg are subject to a four-month hold period.
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: