Shore Gold Announces Acquisition from Newmont to Consolidate Star‑Orion South Diamond Project

Shore Gold Inc. (TSX: SGF) (“Shore” or the “Corporation”) is pleased to announce today that it has acquired (the “Newmont Acquisition”) from Newmont Canada FN Holdings ULC (“Newmont Canada”) all of Newmont’s participating interest in the Fort à la Corne joint venture (the “FalC JV”), resulting in Shore owning 100% of the Star‑Orion South Diamond Project (the “Project”), and has concurrently entered into an Option to Joint Venture Agreement (the “Option Agreement”) with Rio Tinto Exploration Canada Inc. (“RTEC”) pursuant to which the Corporation has granted RTEC an option to earn up to a 60% interest in the Project on the terms and conditions contained in the Option Agreement. All dollar figures herein are in Canadian dollars unless otherwise indicated.
As quoted in the press release:

“We are extremely pleased to partner with Rio Tinto to further develop the potential of the project” said Ken MacNeill, Chief Executive Officer of Shore.  “Rio Tinto is one of the few companies in the world with the resources and expertise to move forward with a project of the magnitude of the Star-Orion South Diamond Project.  We are also very pleased to acquire the remaining portion of the project from Newmont and look forward to working with Newmont as a significant shareholder”.

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