Adventure Gold, GFK Resources Sign $12.7M Option Agreement

Adventure Gold Inc. (TSXV:AGE) has entered into an option agreement with GFK Resources Inc. (TSXV:GFK), a Nova Scotia-based exploration company.

Under the terms of the agreement, GFK has acquired an option to earn between 51 and 100 percent interest in 446 claims covering a 222-square-kilometer area known as the Casa-Cameron project, for exploration expenditures and payments totalling up to $12.74 million.

As quoted in the press release:

Adventure Gold is very pleased to start a new partnership with GFK Resources to explore and develop the Casa-Cameron properties,”  stated Marco Gagnon, president and CEO of Adventure Gold.

“We have already identified quality drilling targets on all the properties and we are very excited to start an initial 3,000-metre drilling program scheduled for early 2014. The option of this project is part of Adventure Gold’s continued strategy to share the risk related to mining exploration on certain assets. The Company still own 100% of the rights in the Detour Quebec and Val-d’Or East flagship projects and intends to resume the exploration work on both projects in 2014.”

Read the full press release by Adventure Gold Inc. (TSXV:AGE)