/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
TORONTO, Dec. 27, 2012 /CNW/ - Viking Gold Exploration Inc. (TSX-V:VGC),
the "Company" or "Viking Gold", is pleased to announce that it has
received approval from the TSX Venture Exchange to extend two groups of
the Company's warrants. The first group, which consists of 3,000,000
warrants exercisable at $0.20 and expiring on December 31, 2012, has
been extended to June 30, 2013. The second group, which consists of
13,654,000 warrants exercisable at $0.20 and expiring on January 25,
2013, has been extended to July 25, 2013.
The Company is also pleased to announce that Golden Share Mining
Corporation ("Golden Share") has agreed to continue with the second
year of its December 2011, three-year option to earn a 50% interest in
the Company's Larose Project, which consists of 16 claims situated 120
km west of Thunder Bay, Ontario. Some terms of the original agreement
have been modified to accommodate Golden Share. Golden Share will not
be required to incur exploration expenditures of $150,000 in the second
year of the option as originally agreed, though it will be required to
keep the claims in good standing and any expenditures incurred will be
applied against its $500,000 total work commitment. Golden Share has
issued its second tranche of 100,000 common shares to the Company and
has agreed to pay in June 2013, 50% of the $10,000 advance royalty
payment due. Viking Gold has agreed to extend the option agreement by
one additional year under these revised terms.
Viking Gold further announces that it has decided to terminate its
October 2012 option agreement with Everton Resources Inc. to earn up to
a 60% interest in two mining concessions in the Dominican Republic.
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:
For further information, please contact Mark Edwards, CEO at (905) 752-2008 or visit the Company's website at: www.vikinggold.ca.