REBgold Corporation RBGCF

Yemana and RebGold

[StoneMan45]

the amount of gold based on the figures below would result in up to $877 million in indicated Au (627,000 ounces) with an additional $2 billion 142 million in inferred Au (additional 1,530,000 ounces). Not too sure how this works out for RebGold with a 1% NSR but they are getting paid for the test work and either the 1% NSR, or a 0.5% NSR and an equity interest in the project. It will be profitable and it will set up a good foundation between Yamana and RebGold for the other Yamana projects.



REBgold Corporation ("REBgold" or the "Company") (TSX VENTURE: RBG) today announced that it is conducting bioleach test work on concentrates produced from Yamana Gold Inc.'s ("Yamana") Jeronimo Gold Project in Northern Chile (the "Jeronimo Project"). REBgold had previously conducted some initial bioleach test work for Yamana on its Jeronimo Project and initial positive results indicated further test work was appropriate. In the event that results are satisfactory to Project, Yamana will pay a 1% net smelter returns ("NSR") royalty to REBgold on gold production generated from REBgold technology at the Jeronimo Project. In the event that the REBgold is able to acquire an equity interest in the project then the royalty would be decreased to a 0.5% NSR and the fees for the test work would be reduced.
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Jeronimo, Chile

Yamana holds a 57% controlling and operating interest in the Jeronimo project along with its joint venture partner, Corporacion Nacional del Cobre de Chile (Codelco), who holds the remaining 43%. Jeronimo is located in Region II of northern Chile. The Company completed an update to the resource estimate for this project.

Indicated resources for the Jeronimo project are estimated at 627,000 contained ounces of gold (3.88 million tonnes grading 5.02 g/t). Inferred resources for the Jeronimo project add an additional 1.53 million contained ounces of gold (11.7 million tonnes grading 4.07 g/t). For the purpose of this mineral resource, a cut-off grade of 2.0 g/t has been used. The table below estimates the mineral resources at various cut-off grades.