(via Thenewswire.ca)
Vancouver, British Columbia / TheNewswire / May 7, 2015 - Pacific Cascade Minerals Inc. (the Company) announces it has entered into a letter agreement with Bama Gold Corp. (TSX Venture: BMA) whereby the Company may acquire a 60% interest in Bama's Turner Lake Project in Nunavut, Canada (the "Option"). PCV can exercise the Option once it has paid $20,000 to Bama in three payments prior to September 30, 2015, and once it has incurred a total of US$20,000 in Exploration and Development expenditures prior to May 1, 2016.Once the option is exercised, the parties will enter into a joint venture; in certain circumstances the Company can acquire Bama's remaining 40% of Turner Lake for further consideration.
A previous agreement between the Company and another party to acquire Turner Lake has expired.
Further, the Company wishes to announce the following change to the Directors of the company. Mr. John Meekison has stepped down from the Board of Directors and the Company takes this opportunity to thank him for his service as a Director.
On behalf of the Board of Directors
"Harold Forzley"
President / CEO
Pacific Cascade Minerals Inc.
For more information contact Daniel Whittle, Investor Relations at:
Daniel.whittle@sealordcapital.com
Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain of the statements made and information contained herein may contain forward- looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information.
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