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RGZ

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Share Name Share Symbol Market Type
TSXV:RGZ 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 -

Randsburg Obtains Improved Terms to Acquire 100% of Nathalie Phosphate Iron Titanium Project

01/03/2013 5:04pm

Marketwired Canada


Randsburg International Gold Corporation (TSX VENTURE:RGZ) ("Randsburg" or the
"Company") announced today that it has signed an Amending Agreement
("Agreement)" to the Memorandum of Understanding ("MOU") signed in March 2012 to
acquire a 100% interest in the Nathalie Phosphate Project. The terms of the
Agreement are significantly improved for the Company over those contained in the
original MOU. The project is located approximately 45 kilometres north of the
port of Baie-Comeau, Quebec, on Quebec's North Shore. This Agreement is now the
definitive agreement between the parties.


The Agreement gives Randsburg the right to acquire a 100% interest subject to a
1.5% NSR in 53 claims comprising approximately 6300 acres. Randsburg also
acquired by staking, an additional 40 contiguous claims comprising approximately
5600 acres. The Nathalie project is prospective for phosphate, iron, titanium
and vanadium. On September 6, 2012 Randsburg announced assay results from
prospecting and mapping on the Nathalie Phosphate Project including results as
high as 7.59% P2O5, 18.94% TiO2% and 57.05% Fe2O3. The Company is planning a
follow-up program in the summer of 2013.


The Nathalie Project has excellent infrastructure with asphalt highway access
from the property to the port and industrial City of Baie-Comeau and electrical
power five kilometres away.


The Agreement was signed with three arm's length private individuals
("Vendors"), resident in Quebec. Under the terms of the Agreement the Company
must pay the Vendors: 500,000 shares in the stock of the Company within 45 days
of the TSX Venture Exchange's ("TSXV") approval and an additional 500,000 shares
on August 25, 2013. To acquire 100% of the property, Randsburg must issue an
additional 500,000 shares by February 25, 2014, and 500,000 shares by February
25, 2015. The Vendors shall have received a total of 2,000,000 shares should the
Company acquire a 100% interest in the Project. No further payments of shares or
cash are required to be paid to the Vendors.


The Company is not required to make any expenditures going forward on the
Project but is required to keep claims in 'good-standing' during the term of the
option Agreement. Randsburg may purchase 0.4% of the above 1.5% Net Smelter
Royalty by paying the Vendors $400,000 at any time following the commencement of
commercial production from the Nathalie Claims. Randsburg has the right of first
refusal to purchase the balance of the NSR. Completion of the acquisition and
payment of securities remains subject to regulatory approval. The securities of
the Company to be issued on the acquisition will be subject to a four month hold
period.


The technical information in this news release was approved by Brian F.
Docherty, Professional Geoscientist, a Consultant to Randsburg, who is a
Qualified Person under the meaning of National Instrument 43-101.


On behalf of the Board of Directors of Randsburg International Gold Corp.

Michael Opara, President and Chief Executive Officer

Copyright, 2013 - Randsburg International Gold Corporation.

FOR FURTHER INFORMATION PLEASE CONTACT: 
Randsburg International Gold Corp.
Michael Opara
President and Chief Executive Officer
info@randsburginternational.com

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