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| Home : Carlin Gold Signs US$5 Million Exploration Agreement with Barrick at Cortez Summit and Announces $500,000 Private Placement Financing |
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Nov 11
2016 |
Carlin Gold Signs US$5 Million Exploration Agreement with Barrick at Cortez Summit and Announces $500,000 Private Placement Financing |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 10, 2016) - Carlin Gold Corporation (TSX VENTURE:CGD), ("Carlin" or the "Company") is pleased to report that it has entered into an Exploration and Earn-In agreement with Barrick Gold Exploration Inc. ("Barrick") on Carlin's Cortez Summit property, Eureka County, Nevada (the "Property"). Barrick has the right to earn a 70% interest in the Property by making expenditures totaling US$5 million by December 31, 2020, of which US$500,000 is a firm commitment to be completed by September 1, 2017. Upon expenditure by Barrick of US$5 million, a limited liability company will be formed to own the project with membership interests owned 70% by Barrick and 30% by Carlin. In addition to its 30% working interest, Carlin will retain a 2% net smelter return royalty on future production to be paid on a pro-rata basis according to membership interests |
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| Source:http://www.marketwired.com/mw/release.do?id=2174559&sourceType=3 |
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