Sulliden Gold Corp. Ltd. has exercised its option to acquirethe 1.5-per-cent net smelter return royalty on production from the Shahuindogold and silver property.
The 1.5-per-cent NSR royalty was granted in February, 2009,as part of the Shahuindo project settlement agreement (see March 2, 2009, pressrelease). The purchase of the NSR royalty was completed pursuant to the termsof the same settlement agreement, which provided Sulliden with the right to buyback the 1.5-per-cent NSR at any time prior to February, 2012. The companyexpended approximately $11-million (U.S.) to complete the transaction.
Peter Tagliamonte, president and chief executive officer ofSulliden, commented, "Sulliden continues to make good progress with thedevelopment of the Shahuindo gold and silver project and management believesthat the purchase of the 1.5-per-cent NSR royalty will further improve theeconomics of the project."
Stephane Amireault, PEng, the vice-president of explorationfor Sulliden, is the qualified person as defined by National Instrument 43-101.Mr. Amireault has read and approved the technical and scientific information inthis news release.
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