AM Gold and Capella Announce Termination of Letter
AM Gold Inc.
TSX VENTURE: AMG
FRANKFURT: AMX
 |
Capella Resources Ltd.
TSX VENTURE: KPS
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Feb 24, 2011 08:26 ET
AM Gold and Capella Announce Termination of Letter of Intent
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 24, 2011) - AM Gold Inc. ("AM Gold") - (TSX VENTURE:AMG)(FRANKFURT:AMX) and Capella Resources Ltd. - ("Capella") (TSXVENTURE:KPS) announce that the letter of intent between Capella and AMGold (the "letter of Intent") has been terminated by mutual agreement ofthe parties. For further information on the letter of Intent see thejoint news releases of Capella and AM Gold dated January 18, 2011 andFebruary 4, 2011.
About AM Gold Inc.
AM Gold Inc. is a publicly held resource company based inVancouver, Canada. The Company is listed on the TSX Venture Exchangeunder the symbol "AMG" and is quoted on the Frankfurt Exchange under thesymbol "AMX". The Company is focused on creating shareholder valuethrough the development of the Company's flagship gold and gold-copperprojects in the Yukon and Peru while building a portfolio of qualitypipeline projects in North and South America. The Company's Red Mountaingold property is located in central Yukon Territory approximately 55kilometres northwest of the community of Mayo in the Tintina GoldBelt. AM Gold holds an 80% interest in Red Mountain with an option toacquire 100% ownership of the 52 contiguous claims that constitute theproperty and cover approximately 1,168 hectares. AM Gold's Pinayagold-copper project is located approximately 775 kilometres southeast ofthe city of Lima, Peru in the Tintaya Gold Belt. The Company maintains100% ownership of 35 mining concessions covering the 19,200 hectarePinaya land position. AM Gold's corporate offices are located Suite 305 –369 Terminal Avenue, Vancouver, British Columbia, V6A 4C4 (phone:604-646-0067).
About Capella Resources Ltd.
Capella Resources Ltd. is a publicly traded, juniorexploration and mineral development company with a strong portfolio ofprecious and base metal projects in Chile, USA and AtlanticCanada. Capella has a 100% interest in the Lajitas and Nevadagold-copper properties located in the Maricunga Gold and Copper Districtand approximately 700 kilometres northwest of Santiago, Chile. Theproperties comprise ten exploration claims and six exploitation claimstotalling a cumulative 3,500 hectares in area. Capella holds a 100%interest in the Tinton Gold Project located 15 kilometres west-northwestof the famous and historic Homestake Mine in the Black Hills at Lead,South Dakota. The Tinton property consists of 1,270 hectares containedin 157 unpatented mining claims. The Company also holds 2,834 mineralexploration claims covering an aggregate land area of over 50,879hectares in Atlantic Canada (Nova Scotia, New Brunswick and Newfoundlandand Labrador). Capella's head office is located at 108F TriderCrescent, Dartmouth, Nova Scotia, B3B 1R6 (phone: 902-468-8280).
On behalf of the Board of AM Gold Inc.
Mark Lawson, CFO
On behalf of the Board of Capella Resources Ltd.
Richard Bachman, President and CEO
Neither the TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease.