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ZGG

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0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:ZGG TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Z-Gold Signs Letter of Intent for Chester Copper Property

17/04/2014 9:30pm

Marketwired Canada


Z-Gold Exploration Inc. ("Z-Gold" or the "Corporation") (TSX VENTURE:ZGG) is
pleased to announce the signature of a letter of intent to enter into an option
agreement to buy the Chester Copper Property from Explor Resources Inc
("Explor").


The letter sets out the general terms pursuant to which it is proposed that
Z-Gold acquires the right to earn 100% interest from Explor in the Chester
Copper Property (the "Property") in New Brunswick.


The Property is located in Northumberland County, 70 km southwest of Bathurst,
New Brunswick and 50 km west-northwest of Miramichi, New Brunswick, within the
Bathurst Mining Camp. This area has an extensive history in base metal
production from VMS deposits. The Property consists of four claim groups with
114 contiguous mineral claim units covering a total area of approximately 2,508
hectares as shown on the attached claims location map.


The Chester deposit was originally discovered in the mid-1950s and it has
undergone numerous exploration and delineation drilling programs. The Property
hosts several small zinc-copper massive sulphide deposits which are underlain by
an extensive copper-bearing Stringer zone. An underground drift, totaling
approximately 470 m, was driven in 1974-75 to evaluate the nature of the
mineralization in the Stringer zone. At that time, a small amount of material
was extracted from this drift and processed at the nearby Nigadoo River Mine
owned by the Sullivan Group out of Val d'Or Quebec. During the period from 2002
through 2008, the property was owned by First Narrow Resources which drilled a
total of 198 holes on the Property; the primary objective was to delineate the
upper portion of the Stringer zone of the deposit in order that commercial
production could be initiated. This work culminated in the generation of a
mineral resource estimate that was originally described in a 2008 Technical
Report.


The Option to earn a 100% interest in the Property

Explor shall grant to Z-Gold the sole and exclusive right and option, over a
three years period to acquire the Property for the consideration indicated
below:


Z-Gold will pay to Explor CDN $80,000, issue 7,250,000 common shares, assume the
remaining financial obligation of CDN $100,000 and complete a work program of
CDN$500,000. Upon the completion of these conditions over a period of three
years, Z-Gold will have acquired a 100% interest in the Property. There are
remaining NSR in favor of previous owners on the property.


This letter of intent is subject to the approval of the TSX Venture and the
disinterested shareholders of Z-Gold Exploration.


Z-Gold would also like to announce that Mr. Rodrigue Tremblay has replaced Mr.
Jacques Frigon as Chief Financial Officer of the Corporation, following Mr.
Frigon's retirement and resignation. Mr. Tremblay has a Bachelor degree in
administration and a master degree in management of small and medium sizes
organizations and is the former CEO of the Corporation. We would like to thank
Mr. Frigon for all his years on the Board of Z-Gold and wish him a long and
happy retirement.


Z-Gold Exploration Inc. is a publicly listed company trading on the TSX Venture
(ZGG).


This press release was prepared by Z-Gold Exploration Inc. Neither the TSX
Venture Exchange Inc nor its Regulation Services Provider (as that term is
defined in the Policies of the TSX Venture Exchange) has reviewed or accepts
responsibility for the adequacy or accuracy of this release. 


This document may contain forward-looking statements relating to Z-Gold's
operations or to the environment in which it operates. Such statements are based
on operations, estimates, forecasts and projections. They are not guarantees of
future performance and involve risks and uncertainties that are difficult to
predict and may be beyond Z-Gold's control. A number of important factors could
cause actual outcomes and results to differ materially from those expressed in
forward-looking statements, including those set forth in other public filling.
In addition, such statements relate to the date on which they are made.
Consequently, undue reliance should not placed on such forward-looking
statements. Z-Gold disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, save and except as may be required by applicable securities
laws.


A map is available at the following address:
http://media3.marketwire.com/docs/zgold.jpg


FOR FURTHER INFORMATION PLEASE CONTACT: 
Christian Dupont, President and CEO
(888) 764-5195
(819) 797-0596
(819) 797-6050 (FAX)
z-gold@tlb.sympatico.ca
www.zgoldexploration.com

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