HAYDEN, ID, May 22, 2013 /CNW/ - Americas Bullion Royalty Corp. (TSX: AMB) (the "Company") is pleased to announce that effective May 21st, 2013, Wolfpack Gold Corp. commenced trading as TSX.V:WFP following the completion of the reverse takeover transaction with Tigris Uranium Corp. Americas Bullion vended 17 properties into Wolfpack Gold creating and retaining a royalty interest on each project. Americas Bullion also received 6,000,000 shares, representing approximately 12% of the common stock.
Wolfpack Gold Corp. (TSX.V:WFP)
Wolfpack is committed to maximizing shareholder value, and is well positioned with cash and marketable securities of approximately $8.2-million, and a low annual expenditure rate. Wolfpack's mandate is to advance low-cost heap-leach and high-grade underground gold projects toward production in the Western United States while maintaining an important asset base in uranium. Wolfpack owns a significant portfolio of gold properties located in Nevada and surrounding states, and has options to acquire certain properties, including the Castle Black Rock and Adelaide properties located in Nevada. The company's portfolio has seen little to no activity since gold prices were below $400 (U.S.)/ounce. Both Adelaide and Castle Black Rock have previous operating histories as open-pit heap-leach operations during the late 1980s, when they were closed due to low gold prices.
In addition, the company owns plus-115,000 acres (46,400 hectares) of private mineral rights, with an indicated resource of 26.6 million pounds triuranium octoxide at an average grade of 0.105 per cent equivalent U3O8 and an inferred resource of 6.1 million pounds U3O8 at an average grade of 0.110 eU3O8 (Beahm, 2012). The mining properties are located in New Mexico's Crownpoint uranium district, a portion of which are under NRC licence, and benefit from an increasingly progressive New Mexico regulatory and political environment.
"With Wolfpack Gold now trading we have completed an important step in realizing value from our property assets in Nevada. We look forward to the long term benefit from the royalty interests and our significant equity position in Wolfpack," said William M. Sheriff, Chairman. "The Nevada team, led by Nate Tewalt, has a number of gold discoveries to their credit in Nevada and we look forward to enjoying the benefits from their future success in what we view as one of the world's best mining jurisdictions with proven mineral endowment."
Americas Bullion Royalty Corp.
Americas Bullion Royalty Corp. focuses on acquiring precious metal royalties and streaming assets which provide revenue as well as lower risk exposure to shareholders through project diversity in stable, mining-friendly jurisdictions. The Company's existing portfolio is highlighted by Gross in-kind Royalties on Midway Gold's Pan and Gold Rock deposits, as well as 2 separate royalties encompassing more than 34 square miles at Barrick Gold's Bald Mountain project in Nevada.
The Company holds additional royalties including Net Smelter Return Royalties on the Taylor Silver project and a portion of the Tonkin Springs project also in Nevada. The Company's royalty holdings comprise more than 100,000 acres located primarily in Nevada, with 7 of the projects located in Wyoming, Oregon, California and Mexico. Current royalty revenue is expected to accelerate as early as 2014 as several of these projects commence production. Americas Bullion Royalty Corp.'s prime royalty portfolio is unique in the mineral development industry due to its ability to receive the majority of projected revenues in-kind (gold bullion as opposed to cash), its possession of gross royalties with no exposure to operator cost, as well as its security of title with no buyback or buyout provisions. The Company continues to advance or monetize other assets including its significant Yukon property holdings, security holdings and the Taylor Mill in Nevada.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and Americas Bullion's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Americas Bullion assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
SOURCE: Americas Bullion Royalty Corp.