VANCOUVER, June 14 /CNW/ - StrataGold Corporation (SGV.TSX) is pleased to
announce that it has met all the option exercise obligations contained in the
Option Agreement relating to the Tassawini property in Guyana and, as a
result, StrataGold, through its indirectly - held wholly - owned subsidiary,
has acquired a 100% interest in the property, subject to certain rights
retained by the vendor described below. The property consists of four medium
scale mining permits and the two adjacent prospecting licenses.
StrataGold has provided the vendor with the final tranche of
100,000 common shares to complete the Tassawini Option Exercise. These shares
are subject to a four-month hold period which expires on October 1, 2007.
The Tassawini Agreement, dated June 10, 2004, required StrataGold to
complete exploration expenditures of US $2.6 million as well as issue a total
of 800,000 shares and 400,000 share purchase warrants in stages and make cash
installment payments totaling US $750,000 to the vendor. The vendor retains a
2.5% NSR royalty that can be purchased at anytime at StrataGold's option for
US $4.0 million. The vendor also retains the right to mine any known alluvial
and tailings gold deposits, which right StrataGold may purchase at anytime for
StrataGold is a well-funded gold development company focused on the
systematic exploration and development of two advanced-stage gold projects. To
obtain additional information, photos and project updates please visit:
For further information:
For further information: Mr. Terry L. Tucker, President and CEO, Ms.
Vanessa Pickering, Manager, Investor Communications, StrataGold Corporation,
Tel: (604) 696-6601, E-mail: firstname.lastname@example.org, Website: www.stratagold.com