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TORONTO, ONTARIO--(Marketwire - Aug. 23, 2011) - Calvista Gold Corporation (TSX:CVZ) ("Calvista", or "the Company") is pleased to announce that its wholly-owned subsidiary, Sociedad Minera Calvista Colombia, S.A.S. ("Calvista Colombia") has entered into three option agreements with certain individuals in the Republic of Colombia to acquire certain interests in mining exploration licenses located in the California District in the Department of Santander, Colombia as follows (i) up to a 100% interest in license 90-68 (El Carmen), comprising 10 hectares and 81 square meters, in two stages, one for 20% of the license and another for 80% of the license, and (ii) a 16.66% interest in license 39-68 (Los Andes), comprising 31 hectares and 1145 square meters, (see Figure 1). The option agreements are subject to TSX approval. The holders of the mining licenses are in the process of transferring to Calvista Colombia their applicable interests in the mining licenses. These interests are subject to transfer back by Calvista Colombia in the event Calvista Colombia does not exercise the options. |
