Golden Tag to Acquire Final 50% of San Diego Silver Project, Mexico

http://www.stockhouse.com/news/press-releases/2016/04/12/golden-tag-to-acquire-final-50-of-san-diego-silver-project-mexico

MONTREAL, QUEBEC–(Marketwired – April 12, 2016) – Golden Tag Resources Ltd. (TSX VENTURE:GOG) (“the Company”) is pleased to announce that it has signed a letter of intent with Golden Minerals Company (“Golden Minerals”) allowing Golden Tag to purchase Golden Mineral’s 50% interest in the San Diego Silver Project, Mexico. On completion of the formal purchase agreement, the Company will hold a 100% interest in the project. The proposed terms of purchase call for the payment of $Cdn Five Hundred Thousand Dollars ($Cdn500,000) and the issuance of Two Million, Five Hundred Thousand (2,500,000) common shares of Golden Tag. Golden Minerals will also be granted a 2% NSR on the property. Completion of the purchase is subject to the negotiation and execution of binding legal agreements, Golden Tag raising the cash portion of the price (which it is currently seeking to secure) and TSX Venture Exchange acceptance. The LOI contemplates closing must all occur by June 17, 2016.

 

 

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