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Handeni Gold Inc. Update on Exploration Activities
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 23, 2014) - Handeni Gold Inc. (the "Company" or "Handeni Gold") (OTCQB:HNDI) update on Prospecting licenses, Exploration activities and the Unsecured Term Loan Facility Agreement amendment in the United Republic of Tanzania.
The Company is pleased to announce that the renewal applications for its four Prospecting Licenses ("PL's") in the Handeni district were approved and that four PL's have been renewed (PL6742/2010, PL6743/2010, PL6744/2010, and PL6779/2010) as "first renewal licenses" valid for a period of 3 years until September and October 2016. The Company thus retains the majority of its exploration targets as defined by its ongoing exploration program within the remaining prospecting area of approximately 356 km(2) .
Ongoing exploration is currently focused on the Mjembe target (PL6744/2010) as well as Target 5 (PL6779/2010) where mapping, trenching and pitting will be followed by ground geophysics and ground geochemistry to define drill positions.
Furthermore, the Company is pleased to announce that Handeni Gold Inc. and IPP Ltd. have amended the Unsecured Term Loan Facility Agreement entered on December 7, 2012 and the loan repayment due date has been extended from December 31, 2013 to June 30, 2014 (the original loan agreement was Incorporated by reference to the Quarterly Report on Form 10-Q for the quarterly period ended November 30, 2012 filed on January 9, 2013).
About Handeni Gold Inc.
The Company is an emerging mineral exploration company focused on exploring and developing mining opportunities in Tanzania. For more information, go to www.handenigoldltd.com.