Winnipeg, MB / ACCESSWIRE / June 17th, 2014 / King’s Bay Gold Corporation (TSX.V: KBG) (“King’s Bay Gold”) is pleased to announce that it has received a Permission to Test Mineral Content (a “Bulk Sample Permit” to disturb, remove and test in-situ rock samples for a combined tonnage of rock of up to 999 tonnes) from the Ontario Ministry of Northern Development & Mines for the furtherance of early stage bulk sampling within the exposed shear zone at the Galbraith A gold occurrence of the Menary Gold Project.
The Permission to Test Mineral Content for Mining Claim # 4205640, File Number KBG-01, is effective for 12 months from June 12th, 2014 and was issued to King’s Bay Gold pursuant to subsection 52 (1) of the Mining Act, R.S.O. 1990, Chapter M.14 and per the request made by the company on January 24th, 2014.
Menary Gold Project
The property is located in the Townships of Menary, Claxton, McClarty and Senn in the Kenora Mining Division of northwest Ontario. The claim units are located approximately 20 kilometres southeast of the Town of Nestor Falls, Ontario and can be accessed along Road 404, east of Highway 71 which runs between Kenora and Fort Frances, Ontario. The project is located roughly fifteen kilometers northeast of New Gold Inc. (TSX: NGD)’s the Rainy River Gold Deposit mine project and Bayfield Ventures Corp. (TSX.V: BYV)’s Burns Block discovery. The overall Menary Gold Project now consists of 18 claims for approximately 2,238 hectares in a single contiguous land package. The project is not only road accessible, but is also close to labour, supplies and current power infrastructure.
3 year Exploration Permit granted on March 14th, 2014
The company also recently received a 3 year Exploration Permit for the Menary Gold Project from the Ontario Ministry of Northern Development & Mines on March 14th, 2014 (see the news release of March 28th, 2014). Exploration Permit, PR-14-10490, is effective from March 14th, 2014 and was issued to the company pursuant to subsection 78.3(2) of the Mining Act, R.S.O. 1990, Chapter M.14. This permit is subject to the requirements of the Mining Act, Ontario Regulation 308/12 and the applicable Provincial Standards for Early Exploration. No additional Terms and Conditions specific to the exploration of the Menary Gold Project were identified nor imposed on the company by the Ontario Ministry of Northern Development & Mines.
Detailed exploration summaries and maps on all of the properties in the company’s portfolio can be viewed at www.kingsbaygold.com .
About King’s Bay Gold Corporation
King’s Bay Gold Corporation is an active Canadian mineral exploration and development company with mineral projects located in two of Canada’s emerging gold camps – the Rainy River / Kenora and Sturgeon Lake, ON gold camps.
KBG Shares Outstanding: 98,976,914
King’s Bay Gold Corporation
Director & Chief Financial Officer
This news release includes certain forward-looking statements concerning the future performance of King’s Bay Gold Corporation’s business, its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements are frequently identified by such words as “may”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. These forward-looking statements represent management’s best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing and as described in more detail in the Company’s recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking statements and readers are cautioned against placing undue reliance thereon.
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: King’s Bay Gold Corporation