Nexus Gold to Acquire Bouboulou Gold Concession in West Africa

Nexus Gold (TSXV:NXS) announced it has entered into a letter of intent with Bureau D’Tude des Geosciences et de L’Enviroment, pursuant to which Nexus will acquire the right to earn up to 100-per-cent interest in the Bouboulou gold concession located in Burkina Faso, West Africa.
As quoted in the press release:

Nexus will have an option to acquire up to a 75% interest in the Bouboulou concession, in consideration for cash payments of Cdn$500,000 and the issuance of 900,000 common shares of Nexus, over a period of three years. Following acquisition of a 75% interest in the concession, Nexus will have the option to acquire the remaining 25% interest through a cash payment of Cdn$1,000,000 with a 1% net smelter return royalty remaining with the Optionor.
With the Bouboulou concession, the Company is establishing a portfolio of advance stage exploration gold projects for development. Bouboulou joins the Company’s flagship Walker Ridge Gold Project which is located in Nevada, USA where work is ongoing. The Company will also continue to fully utilize leading-edge technologies, such as Element Detection Technology (EDT) in its exploration work. EDT was successfully used at Walker Ridge in further defining drill targets.

Nexus Gold President and CEO, Peter Berdusco, stated:

Bouboulou is an excellent property with four zones of gold mineralization identified to date from previous exploration work. Prior drilling has defined high-grade intercepts giving the property exceptional resource potential. Warren Robb, P.Geo, and director of Nexus, is familiar with the project having reviewed the property in 2010 and later in 2012 while employed in Burkina Faso. We are extremely pleased to have negotiated the terms with the vendors and look forward to executing the definitive agreement in the coming weeks.

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