VANCOUVER, April 23 /CNW/ - Zoloto Resources Ltd. ("Zoloto" or the
"Company") (TSX Venture: ZR) announces, further to its press release issued on
January 16, 2009, that its loan agreement with GV Gold Ltd ("GV Gold") has
been extended by 45 days.
M.L. Ltd, a subsidiary of Zoloto, is in the process of paying down its
current debt with contractors, labour and suppliers with funds advanced to it
pursuant to loan agreements with GV Gold for an aggregate amount of RUB 47
million (currently, approximately C$1.8 million). GV Gold is a private Russian
gold producer active in the Irkutsk and Yakutsk regions. The loans have been
extended by 45 days following each respective advance and bear interest at a
rate of MosPrime+6%. The loans are guaranteed by Zoloto and are secured
against Zoloto's Baikal Gold and Chukot Gold subsidiaries that own Zoloto's
principal Russian Gold Exploration projects.
About Zoloto Resources
Zoloto is a gold exploration company whose primary focus is to become a
mid-tier gold producer through the advancement of its gold exploration
properties in the Russian Federation. In addition, Zoloto's management will
continue to evaluate acquisition opportunities within the Russian Federation.
Zoloto's philosophy is to unlock shareholder value in a socially and
environmentally responsible manner.
Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Alan Tenenbaum/Yana Bobrovskaya, Investor
Relations, Zoloto Resources Ltd., Phone: (604) 608-0223, Fax: (604) 608-0344