In order to exercise the option, Wesgold must incur an aggregate of
Due date Shares Expenditures On signing 200,000 - Dec. 31, 2009 - $ 100,000 On public listing of Wesgold 200,000 - Oct. 30, 2010 200,000 200,000 Oct. 30, 2011 200,000 300,000 Oct. 30, 2012 200,000 400,000 ----------- ------------ 1,000,000 $ 1,000,000 ----------- ------------ ----------- ------------
"Optioning this newly acquired property to Wesgold provides excellent leverage to our shareholders," said
It is a further condition of the agreement that Wesgold obtain a public listing on the TSX Venture Exchange by
Wesgold intends to carry out a low-level, high resolution, multi-sensor airborne geophysical survey to map lithological units, structure, and alteration zones at Snowcap. In addition, Wesgold will carry out deep soil sampling to confirm and enhance gold and mercury soil anomalies identified in the 1980's that occur close to a complex sequence of chalcedonic tuffs and phreatic breccias with sinter clasts associated with Tertiary felsic volcanic centres along a 15 kilometre long structural trend. Both Radius and Wesgold consider the known geological and geochemical setting as highly favourable for the location of low-sulfidation, structurally controlled, epithermal gold mineralization.
Qualified Person
About Radius
Radius Gold Inc. has been exploring for gold in
ON BEHALF OF THE BOARD "Ralph Rushton" Ralph Rushton, Vice-President, Corporate Development Contact: Ralph Rushton/Erin Ostrom, Symbol: TSXV-RDU; OTCBB-RDUFF Shares Issued: 53.5-million
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of
SOURCE Radius Gold Inc.
For further information: For further information: on Radius Gold Inc. and its properties, please call toll free 1-888-627-9378 or visit our web site (www.radiusgold.com)
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