Renaissance Gold Signs Option Agreement on Silicon Project with AngloGold Ashanti

Renaissance Gold Inc. (TSX-V: REN) (“RenGold” or the “Company”) is pleased to report that it has signed an agreement (the “Option Agreement”) with AngloGold Ashanti North America, Inc. (“AngloGold”) for an option to purchase the Company’s Silicon exploration property located approximately 6 miles northeast of Beatty in Nye County, Nevada.
As quoted in the press release:

The Option Agreement provides for a series of payments to RenGold commencing with US$100,000 paid on signing, and to maintain the agreement US$200,000 on the first anniversary, US$300,000 on the second anniversary and finally US$2,400,000 on the third anniversary of the Option Agreement. Upon RenGold having been paid a total of US$3,000,000, AngloGold would then own a 100% interest in the property subject to RenGold retaining a 1% net smelter return royalty on future production. In addition, Altius Minerals Corporation owns a 1.5% net smelter return royalty, which resulted from an earlier generative funding agreement. AngloGold may withdraw at any time during the option period with no retained interest.

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