/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
TORONTO, March 4, 2013 /CNW/ - Viking Gold Exploration Inc. (TSX-V:
VGC), the "Company" or "Viking Gold", is pleased to announce that it
has entered into an option agreement to earn a 100% undivided interest
in the Vent d'Or Property ("Vent d'Or" or the "Property").
Vent d'Or, which consists of 44 mineral claims covering an area of 2,461
hectares, is located southwest of the town of Chibougamau in the
Druillettes and Hazeur Townships, in central Quebec. The claims are
located on strike to the southwest of the Monster Lake Property gold
discovery, recently made by TomaGold Corp. and Quinto Real Capital
Corporation, who have reported drilling results of up to 42 g/t Au over
7.2 m. A location map is attached to the branded version of this press
release and is also available on Viking Gold's website.
The Property has previously yielded numerous gold surface occurrences as
well as gold intersections in shallow drill holes. Altered volcanics,
shear zones and smokey quartz veins have been reported to occur on the
Property. Surface grab samples from highly sheared, intensely altered
volcanic rocks have returned values as high as 9.1 g/t Au while shallow
drill hole intersections of smokey quartz returned up to 11.3 g/t Au
over 1.3 m.
The terms of the option are as follows:
Pay $15,000 cash and issue 400,000 common shares on closing.
Pay $30,000 cash and issue 300,000 common shares on or before June 1,
Pay $45,000 cash and issue 300,000 common shares on or before June 1,
In addition, the Company has agreed to grant a 2% net smelter returns
(NSR) royalty to the vendors. The Company may acquire 50% of the NSR
by making a payment of $1,000,000. This transaction is subject to TSX
Venture Exchange approval.
Robert Gagnon, B Sc. Geo., an independent "Qualified Person" as that
term is defined in National Instrument 43-101, has reviewed and
approved the technical disclosure in this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this press
This press release contains forward-looking statements. All statements,
other than of historical fact, that address activities, events or
developments that the Company believes, expects or anticipates will or
may occur in the future (including, without limitation, statements
regarding the estimation of mineral resources, exploration results,
potential mineralization, potential mineral resources and mineral
reserves) are forward-looking statements. Forward-looking statements
are often identifiable by the use of words such as "anticipate",
"believe", "plan", may", "could", "would", "might" or "will",
"estimates", "expect", "intend", "budget", "scheduled", "forecasts" and
similar expressions or variations (including negative variations) of
such words and phrases. Forward-looking statements are subject to a
number of risks and uncertainties and other factors that may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements.
Factors that could cause actual results or events to differ materially
from current expectations include, among other things, without
limitation, failure to establish estimated mineral resources, the
possibility that future exploration results will not be consistent with
the Company's expectations, the price of commodities and other risks
identified in the Company's documents filed with the Canadian
securities regulatory authorities on SEDAR.com. Any forward-looking statement speaks only as of the date on which it
is made and, except as may be required by applicable securities laws,
the Company disclaims any intent or obligation to update any
SOURCE: Viking Gold Exploration Inc.
For further information:
please contact Mark Edwards, CEO at (905) 752-2008 or visit the Company's website at: www.vikinggold.ca