Viking Gold Exploration Extends Larose Project, Terminates Dominican Republic Concessions

Viking Gold Exploration Inc. (TSXV:VGC) announced that it will continue on into the second year of its December 2011, three-year option with Golden Share Mining to earn a 50% interest in the Larose Project and that it will tterminate its October 2012 option agreement with Everton Resources Inc. to earn up to a 60 percent interest in two mining concessions in the Dominican Republic.

As quoted in the press release:

Golden Share will not be required to incur exploration expenditures of $150,000 in the second year of the option as originally agreed, though it will be required to keep the claims in good standing and any expenditures incurred will be applied against its $500,000 total work commitment. Golden Share has issued its second tranche of 100,000 common shares to the Company and has agreed to pay in June 2013, 50% of the $10,000 advance royalty payment due. Viking Gold has agreed to extend the option agreement by one additional year under these revised terms.

To view the whole press release, click here.