Arctic Gold AB (ARCT): Option agreement for review of the diamond project
Arctic Gold and Dr Markus Elsasser and his partner Dr Mark Hutchison have signed an option agreement that gives an exclusive access to all data of Arctic Golds diamond project until the latest June 30th, 2013.
Arctic Gold and Dr Markus Elsasser and his partner Dr Mark HutArctic Gold who started with diamond exploration in northern Sweden under the name Alcaston Diamond Exploration AB has during the latest years focused on gold exploration and thereby looked for a purchaser or a partner with knowledge in diamond exploration.
An option agreement have now been signed with Elsasser and his partner Dr Mark Hutchison, a diamond geologist, which gives Elsasser and Hutchison an exclusive access to all data of Arctic Golds diamond project until the latest June 30th, 2013.
If Elsasser and Hutchison find the project of such interest and will make a takeover of 100% of the project Arctic Gold will receive 2 % royalty on all sales generated out of diamond mining of the project and 10 % of shares in the project in case it is sold with profit by Markus Elsasser or the company in which the project will be placed.
- This is the first time as we have successfully signed an agreement which might create future income to Arctic Gold and thereby we see it as a positively contribute to the continued development of Arctic Gold says CEO Lars-Åke Claesson.
chison have signed an option agreement that gives an exclusive access to all data of Arctic Golds diamond project until the latest June 30th, 2013.
For further information, please contact the company's CEO and Qualified Person as per SweMin as well as Europe Geologist.
Arctic Gold AB
46 18 156423
46 70 6733294
Arctic Gold's business concept is to engage in exploration activities to discover and demonstrate commercially extractable gold and base metal deposits in Scandinavia. The strategy is primarily to carry out exploration work and either sell the project within a few years or to establish mining activities under the company's own control or through a partnership with other companies. Arctic Gold focuses mainly on the Bidjovagge project in northern Norway and current gold and base metal permits in Västerbotten and Norrbotten. Arctic Gold's shares are listed on NASDAQ OMX First North under the ticker ARCT. Certified Adviser is Erik Penser Bankaktiebolag. More information about company is available at www.arcticgold.se.