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TICKERS: NRG; NRGOF

Explorer to Buy Adjacent Red Lake Property
News Update

Source:

Though never drill tested, the company believes the area is highly prospective for gold.

Newrange Gold Corp. (NRG:TSX.V; NRGOF:OTC) announced in a news release it signed an option agreement to earn a 100% interest in Bounty Gold Corp.'s H Lake property, thereby expanding its property holdings in Ontario's Red Lake District.

"With this second option we have secured what we believe to be the most favorable geology in the northwestern part of the Birch-Uchi Greenstone Belt," Newrange CEO Robert Archer said in the release.

"Although the main iron formation has never been drill-tested, there is gold in the area and this geological setting is considered to be highly prospective for a new discovery. Given that we are now well financed through 2020, this will only add to the Company’s valuation as we continue to advance our flagship Pamlico Project in Nevada," Archer added.

H Lake encompasses 1,500 hectares and abuts the western edge of the Western Fold property that Newrange recently optioned. One portion of the folded iron formation is covered by both H Lake and Western Fold, and together they span the entire, 3,850 hectare iron formation package. Newrange will refer to the combined properties as the North Birch project.

As for the deal terms, to earn 100% of the H Lake property, Newrange will pay $50,000 in cash and issue 400,000 common shares to Bounty Gold, both in tranches over one year. Bounty will retain a 2% net smelter return royalty on the property, half of which Newrange may buy for $1 million.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Newrange Gold. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Newrange Gold Corp., a company mentioned in this article.




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