BCGold Completes Acquisition of Engineer Mine

BCGold (TSXV:BCG) announced that it had vested the remaining 25 percent interest in the Engineer Mine from Engineer Mining Corp.

As quoted in the press release:

Immediately following the acquisition, BCGold Corp. entered into a letter agreement with EMC to purchase the following items, subject to TSX Venture Exchange approval, for total consideration of $300,000 payable to EMC no later than May 15, 2013:

• the fully permitted 30-tonne-per-day gravity separation mill, a 931 Caterpillar crawler loader, a 10-tonne dump truck, and ancillary equipment at Engineer Mine
• the 30% Net Profits Interest Royalty on a high-grade gold shoot on the Double Decker Vein between mine levels five and eight
• the option to purchase the Engineer Mine property surface rights in three equal annual payments over a three-year period commencing April 16, 2016, at a fair market value of no more than $500,000 (this item is an amendment to a previous agreement with EMC)