| ||Thu Apr 9, 2015|
Cassidy Gold Corp. Announces An Agreement For The Sale Of Gold Produced From Its Kouroussa Gold Project In The Republic Of Guinea To Alchemists Inc. And Appoints Chief Operating Officer
| ||Cassidy Gold Corp. ("Cassidy" or the "Company") is pleased to announce that it has entered into an agreement (the "Agreement") with its wholly owned subsidiary, Société Cassidy Gold Guinée S.A. ("CassidyGuinea"), and Alchemists Inc. ("Alchemists") pursuant to which Alchemists will purchase gold produced from the Kouroussa Gold Project in the Republic of Guinea, West Africa owned by the Company through CassidyGuinea.|
Pursuant to the Agreement, Alchemists will pay CassidyGuinea up to US$3,500,000 cash in deposits ("Deposits") of US$500,000 each, each Deposit to be a prepayment for gold to be delivered by CassidyGuinea to Alchemists. The Deposits shall be made at the request of CassidyGuinea from time to time until August 31, 2015, after which date Alchemists shall have no further obligation to pay any further Deposits.
The proceeds of the Agreement will be used by Cassidy to advance its gold project in Guinea, West Africa, and for general corporate purposes.
Cassidy also announces the appointment of Bruce McDonald as the Company's Chief Operating Officer. Bruce McDonald is an economic geologist, who started his career with Newmont Mining Corporation and
later BP Minerals and Snowden Consulting where he was part of their international consulting group. Mr.
McDonald's experience is principally epithermal and hydrothermal gold systems as well as porphyry environments. He has worked in many different countries and environments from Australasia, across Asia including India and Malaysia, Brazil, Ecuador and Eastern and Western Europe. Over the last 5 years, Bruce has focused primarily on Asian projects in Mindanao, Philippines and northern Vietnam. At present, he is managing the development of an underground gold mining operation in Guinea, West Africa. Bruce is also the Managing Director of ASVI Technical Services Group, a mining development consultancy company.
About Cassidy Gold Corp.
Cassidy is a Canadian mineral development company focused on gold discovery in the Republic of Guinea, West Africa. Cassidy is listed on the TSX Venture Exchange under the symbol "CDX". The Company owns a 100% interest, subject to a 15% state participation, in the Kouroussa Gold Project in the Republic of Guinea.
For additional information, please contact:
James T. Gillis, President
Telephone: (250) 574-5011
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Cassidy Gold Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Cassidy Gold Corp.'s management on the date the statements are made. Except as required by law, Cassidy Gold Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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