Affinity Gold Corp. Signs Definitive Lease With Option To Purchase
For 1800 Hectares
MAPLE GROVE, Minn.,
Dec. 20, 2012 /PRNewswire/
-- Affinity Gold Corp. (AFYG.pk) ("Affinity" or "the Company")
is pleased to announce that on December
18th it has entered into a five-year definitive
mineral lease agreement with option to purchase on 1800 hectares
located just 1 kilometer to the south of the Company's current 500
hectare property.
According to the terms of the definitive agreement, Affinity
will pay a total of sixty thousand
dollars (USD $60,000) over the
first six months of the mineral lease agreement and seven and a
half (7.5%) percent of gross production income to the land
owner. Upon closing, Affinity delivered $15,000 USD and has the obligation to pay an
additional $45,000 USD by the end of
the 6-month period.
Affinity will have a total of twelve (12) months to conduct
exploration studies on the 1800 hectares. Upon completion of
the exploration phase, the Company will have an additional twelve
(12) months before production is to be established at a minimum of
1,000 cubic meters per day.
Property Highlights:
- Similar geologic composition as the Company's existing 500
hectares 1 kilometer to the north
- Entire 1800 hectares hugs the Inambari River, one of the most
important river systems in the region
- Concessions are located along the Inter Oceanic Highway
providing access year round
"Considering the data contained in our 2009 technical
report for our existing 500 hectares and the close proximity of the
additional 1800 hectares we can begin to extrapolate the potential
quantities of gold the combined 2300 hectares may contain," stated
President & CEO Corey
Sandberg. Mr. Sandberg went on to state, "our goal is
production and that's where we're headed in 2013 with the addition
of this property."
About Affinity Gold Corp.:
Affinity Gold Corp. is a
mineral exploration and development company engaged in the
acquisition, exploration and development of gold mineralization
properties internationally. Affinity Gold Corp.'s current primary
focus is gold exploration in Peru.
www.affinitygold.com
CONTACT:
AFFINITY GOLD CORP.
Corey J. Sandberg
763-424-4754
info@affinitygold.com
For further information please refer to the Company's filings
with the SEC on EDGAR available at www.sec.gov
FORWARD-LOOKING STATEMENTS
This news release may include "forward-looking statements"
regarding Affinity Gold Corp., and its subsidiaries, business and
project plans. Such forward-looking statements are within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and section 21E of the United States Securities and Exchange Act of
1934, as amended, and are intended to be covered by the safe harbor
created by such sections. Where Affinity Gold Corp. expresses or
implies an expectation or belief as to future events or results,
such expectation or belief is believed to have a reasonable basis.
However, forward-looking statements are subject to risks,
uncertainties and other factors, which could cause actual results
to differ materially from future results expressed, projected or
implied by such forward-looking statements. Affinity Gold Corp.
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
SOURCE Affinity Gold Corp.