Trio Grants a Non-Exclusive Extension to Coastal Pacific Mining Corp.
31 Julho 2009 - 1:44PM
Marketwired Canada
Trio Gold Corp. (TSX VENTURE:TGK) (PINK SHEETS:TROOF) ("Trio") and Coastal
Pacific Mining Corp. ("CPM") have amended their May 19th, 2009 Option Agreement.
Under the amended terms Trio has granted CPM a non-exclusive extension until
October 15th, 2009 to provide US$ 1,000,000 in exploration funds for Trio's
Rodeo Creek property. CPM can earn a 40% working interest in the property by
providing a total of US$2,000,000 by July 15th, 2010. CPM has the right to earn
a total of 70% interest by completing a bankable feasibility. Trio has received
300,000 shares of CPM in accordance with the original agreement. Management took
into consideration the current market conditions, and believes that this
non-exclusive extension is in the best interest of Trio's shareholders.
The Carlin Trend is the most prolific gold area in North America, and hosts as
many as thirty gold producing mines and development projects, on which over 100
million ounces of gold production and inventory have been identified to date.
The Rodeo Creek property is located 1.5 kilometers northwest of Barrick's Storm
deposit. Trio's property exhibits geological and alteration features common to
all deposits on the Carlin Trend. Five geochemically anomalous targets have been
identified, and the drill program planned for this year will test a number of
these.
CUSIP #89669C-108, Exemption #82-2127
For further information on the contents of this news release or the activities
of the Company, contact Mr. Harry Ruskowsky, President & CEO at (403) 262-9640.
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