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TICKERS: NXS; NXXGF

Vancouver Explorer and Developer to Acquire Newfoundland Project
News Update

Source:

With this addition, the company will have three Canadian projects in its portfolio.

Nexus Gold Corp. (NXS:TXS.V; NXXGF:OTCQB) announced in a news release it agreed to acquire a series of mineral claims in central Newfoundland, commonly known as the Gummy Bear copper-gold project.

For Gummy Bear, which consists of seven claims and 2,525 hectares of property, Nexus Gold will issue 4,000,000 common shares. It also will grant a 2% net smelter returns royalty on commercial production from the project, 50% of which may be purchased at any time for $1 million in cash.

When the acquisition closes, Nexus Gold will issue 400,000 common shares to a third party who made introductions that led to the deal.

Previous exploration work at the project revealed anomalous gold occurring in an outcrop that showed grades up to 4.2 grams per ton and several large boulders containing pyrrhotite, pyrite and chalcopyrite to the southwest.

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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.
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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 interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Nexus Gold, a company mentioned in this article.




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