VANCOUVER, Sept. 2 /CNW/ - Stikine Gold Corporation (SKY:TSX.V) (the
"Company") announces that it has been granted an option to acquire a 100%
interest in a placer property located near Sowchea Creek at the southern end
of Stuart Lake, BC. The property consists of one placer lease covering 616
hectares and is located approximately eight kilometers southwest of Fort St.
Stikine will pay Mr. Grant Luck $20,000 to secure a 90-day evaluation
period. During that time, the Company will test various parts of the property
to determine its mineral potential and to determine whether to proceed with
the option. After the evaluation period, and subject to regulatory approval,
Stikine will enter into a formal option agreement, pursuant to which it could
earn a 100% interest in the property by paying an additional $80,000 cash and
issuing 400,000 shares to the property vendor over a four-year option period.
An additional 200,000 shares would be issued upon commercial production.
Stikine is preparing a preliminary sampling and testing program for the
coming months and details of that initial field program will be announced
STIKINE GOLD CORPORATION
Scott E. Broughton, P.Eng. - President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Investor Relations: Tel: (604) 684-1900, Fax:
(604) 684-2902, Email: email@example.com, Web: www.stikinegold.com