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FGC Frontline Gold Corporation

0.02
0.00 (0.00%)
21 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Frontline Gold Corporation TSXV:FGC 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% 0.02 0.01 0.02 0 01:00:00

Frontline Gold Completes 100% Interest in Menderes Turkey Asset

02/04/2013 4:08pm

Marketwired Canada


NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Frontline Gold Corporation (TSX VENTURE:FGC) ("Frontline" or the "Company")
would like to announce that, subject to TSX Venture approval, Frontline has
completed the final option payment (the "Option Payment") (refer to the press
release dated January 30, 2013) due on the Menderes Property (the "Property") by
the issuance of 2,500,000 common shares from the treasury valued at $0.05 per
share. The shares will be issued to ENA Mad. TIC VE NAK. LTD. STI ("ENA"). With
respect to the Option Payment, the Company has amended the Option to Purchase
and Transfer Agreement dated June 11, 2010 between the Company and ENA to
reflect changes to the Option Payment from cash to shares of the Company.


Subject to TSX Venture approval, the Company completed the acquisition of a 100%
interest in the Property for $270,000, subject to ENA retaining a 2% NSR on the
Property of which 50% may be acquired for $1,000,000.


Frontline's Menderes project, located in Izmir province, western Turkey and the
property, located only 20 km from the provincial capital of Izmir, consists of
62 km2 in a high potential epithermal gold environment. The exploration focus of
Menderes is the eastern strike extension of Eldorado Gold Corporation's
Efemcukuru gold mine, which began operation in mid-2011. 


Commentary

"We very pleased to have completed the option to acquire a 100% interest in the
Menderes Property, which continues to have excellent exploration potential as
demonstrated by Eldorado's recent announcements of its successful exploration
drilling at its Efemcukuru Gold Mine adjacent to the Menderes property," said
President and CEO, Walter Henry. "Our technical team believes that the
exploration drilling completed to date by Eldorado on its Kokarpinar vein
structure, immediately to the west of our property, indicates the potential of
Frontline's Menderes project to host a significant epithermal gold environment."



About Frontline Gold Corporation

Frontline is a Canadian junior mineral exploration company with an experienced
discovery team and a proven record of accomplishment. The Company's flagship
properties include the Menderes gold project in the Izmir province of Western
Turkey and the Niaouleni gold project in southern Mali in the heart of West
Africa's prolific gold belt. Ongoing Canadian exploration includes the Poly
(gold VMS) and the Stewart (gold-copper porphyry) projects.


For further information, please visit the Company's website at
www.frontlinegold.com to view the most recent corporate presentation. 


This news release contains forward-looking statements, which address future
events and conditions, which are subject to various risks and uncertainties. The
Company's actual results, programs and financial position could differ
materially from those anticipated in such forward-looking statements as a result
of numerous factors, some of which may be beyond the Company's control. These
factors include: the availability of funds; the timing and content of work
programs; results of exploration activities and development of mineral
properties, the interpretation of drilling results and other geological data,
the uncertainties of resource and reserve estimations, receipt and security of
mineral property titles; project cost overruns or unanticipated costs and
expenses, fluctuations in metal prices; currency fluctuations; and general
market and industry conditions. 


Forward-looking statements are based on the expectations and opinions of the
Company's management on the date the statements are made. The assumptions used
in the preparation of such statements, although considered reasonable at the
time of preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Frontline Gold Corp.
Walter Henry
President & CEO
(416) 362-9100
(416) 362-9300 (FAX)
info@frontlinegold.com
www.frontlinegold.com

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