VANCOUVER, Oct. 17, 2018 /CNW/ - Pacton Gold Inc.
(TSXV: PAC, OTC: PACXF, FSE: 2NKN) (the "Company" or "Pacton") is pleased to announce it has signed a
Memorandum of Understanding ("MOU") with Artemis Resources Limited (ASX: ARV, FSE: ATY, USOTC: ARTTF)
("Artemis"), an Australian Securities Exchange listed exploration company, to enter into a strategic processing alliance
("Alliance").
Highlights of the Transaction:
- Permitted processing facility provides potential of rapid advancement of Pacton's projects through substantial bulk
sampling and production scale testing of gold mineralization.
- Pacton's multiple mining leases held across a number of projects provides a rapid pathway for trial mining to be
undertaken.
- Project scale review underway across entire portfolio to identify opportunities for near term production from both
conglomerate and shear hosted mineralization styles.
The MOU contemplates collaboration between the two companies, whereby Pacton can utilize Artemis' 100% owned Radio Hill
processing plant, located 30 kilometres from the city of Karratha, on a non-exclusive basis. The Alliance provides Pacton with
the potential to bulk process conglomerate and shear hosted mineralization from Pacton's multiple mining leases and therefore
opens a rapid pathway to production.
Under the terms of the MOU, Artemis and Pacton will seek to work collaboratively to determine how they can together advance,
or leverage off, Artemis' Radio Hill operations and processing infrastructure. Commercial terms for any processing arrangement
remain subject to negotiation in a formal agreement.
"The strategic processing alliance with Artemis provides a far reduced upfront capital cost of evaluating near term
development opportunities within the Pilbara. Pacton's extensive land holding in the Pilbara contains a multitude of
prospects requiring evaluation. Through Pacton's granted mining leases in conjunction with the processing solution provided by
Artemis, the alliance partners are well positioned to expedite development opportunities," commented Alec Pismiris,
Interim President and CEO of Pacton Gold. "We look forward to working closely with Artemis, an established long term
operator in the Pilbara region and strive to capitalize on the operating synergies between both parties."
About Pacton Gold
Pacton Gold (PAC: TSXV; PACXF: US, FSE: 2NKN) is a well-financed Canadian junior with key strategic partners
focused on the exploration and development of conglomerate-hosted gold properties located in the district-scale Pilbara gold rush
in Western Australia.
On Behalf of the Board of Pacton Gold Inc.
Alec Pismiris
Interim President & CEO
This news release contains or refers to forward-looking information based on current expectations, including, but not
limited to the Company achieving success in exploring its projects and the impact on the Company of these events, including the
effect on its share price. Forward-looking information is subject to significant risks and uncertainties, as actual results may
differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no
responsibility to update or revise such information to reflect new events or circumstances.
Neither TSX Venture Exchange, the Toronto Stock Exchange nor their 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.
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SOURCE Pacton Gold Inc.
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