RUBY CREEK'S GOLD STANDARD ACQUISITION UPDATE
NEW YORK, NY -- (Marketwire) -- 08/02/11 -- Ruby Creek Resources
Inc. (OTCBB: RBYC), a gold exploration and mining company with
operations in Tanzania, provides an update on the closing of the Gold
Standard acquisition (See News Releases dated January 12, 2011 and
May 24, 2011).
Ruby Creek's agreement with Gold Standard provides for the
acquisition of a recently issued 10 sq km Mining License, two
exploration joint ventures of 40 and 89 sq km, a Regional
Environmental Report, an established mining camp and the acquisition
of all Gold Standard Tanzania's mining equipment.
The Parties have agreed upon the form of final documentation for the
transaction and are working to obtain the necessary government
consents and approvals in order to sign and close.
Robert Slavik, President and CEO of Ruby Creek, said, "We recognize
this extra length of time in closing the Agreement. We performed
extensive due diligence thereby ensuring proper disclosure and title
documentation before closing the Acquisitions. Be assured we have
been very active on the ground during that phase of corporate work.
Ruby Creek is on the cusp of entering an exciting new phase of the
Gold Plateau Project."