Endurance Gold Corporation (EDG -- TSX.V) is pleased to announce an agreement with Liberty Gold Corporation ("Liberty") that provides Liberty an option to earn a 60% joint venture interest in the company's 100% owned McCord Creek Gold Property in Alaska.
Liberty must complete US$600,000 in exploration expenditures and make US$85,000 in cash payments over three years to earn a 60% joint venture interest. A cash payment of $15,000 was required on signing. As part of the agreement Liberty has agreed to incur a minimum of US$150,000 in exploration expenditures in 2012. The 2012 agreed program includes additional soil sampling and trenching with the objective of defining drill targets for the 2013 field season.
The McCord property is located in the eastern extension of the Livengood gold district and immediately adjoins International Tower Hill's ("ITH") Livengood Property on the eastern side. In August 2011, ITH reported in-situ measured, indicated and inferred resource (at 0.50 grams per tonne cut-off) of 13.1 million ounces of gold (see the ITH website for complete disclosure).
As reported on April 24th, 2012 a program of grid-based and power auger assisted soil sampling was completed on the McCord Property in 2011. Soil sampling identified five gold-in-soil anomalies. The two largest soil anomalies, exceeding 10 parts per billion ("ppb") gold, are 850 by 250 metres and 650 by 200 metres in size. The maximum soil value exceeds 100 ppb gold.
Program timing and budget details for the 2012 summer field program are currently being finalized.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, firstname.lastname@example.org
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