RX Gold provides update on combination transaction with U.S. Silver
2012年7月24日 - 10:26AM
PR Newswire (Canada)
TORONTO, July 26, 2012 /CNW/ - RX Gold & Silver Inc. ("RX
Gold") responded today to the press release issued on July 25, 2012
by Hecla Mining Company announcing its intention to make an
unsolicited offer for U.S. Silver Corporation ("US Silver").
The agreement for the previously announced combination of RX Gold
and US Silver remains in force and RX Gold will provide an update
in respect of the combination transaction after the decision of the
US Silver board regarding the Hecla offer. Darren Blasutti,
President & Chief Executive Officer of RX Gold stated "The
Hecla offer obviously confirms our views regarding the value of US
Silver's assets and we recognized the possibility of interloper
risk. Our contract with US Silver contains appropriate protections
for RX Gold shareholders in this situation." About RX Gold &
Silver Inc. RX Gold is a gold and silver mining company focused on
growth in North America. Currently RX Gold is concentrating on
continuing mining and expanding development at its 100%-owned
Drumlummon Mine. The Drumlummon Mine is a bonanza style low
sulphidation epithermal gold and silver deposit with historic
production of approximately one million ounces of gold equivalent.
The mine has never been fully exploited or explored and material
that was once considered waste is now potentially economic. In
addition, RX Gold has discovered a series of entirely new
high-grade gold and silver veins that remain open for expansion in
three directions. Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release. RX Gold & Silver
Inc. CONTACT: Darren BlasuttiChief Executive Officer(416)
848-9503E-mail: inbox@rxgold.com
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