Blind Creek Announces Letter Agreement with BC Gold Corp and Results of AGM
Blind Creek Resources Ltd.
15th Floor 675 West Hastings Street, Vancouver, British Columbia, Canada V6B 1N2
Telephone: 604 669-6463 TSX Venture Exchange Facsimile: 604 669-3041 Trading Symbol: “BCK” Toll Free: 1-800 663-9688
News Release 13-01
Blind Creek Announces Letter Agreement with BCGold Corp and Results of AGM
October 18, 2013
Vancouver, B.C. – Blind Creek Resources Ltd. (TSXV:BCK) (the “Company,” or “Blind Creek”), announces that it has entered into a Letter Agreement with BCGold Corp. (“BCGold”). The Company also advises that it held its annual general meeting of shareholders on October 17, 2013.
Letter Agreement The Company entered into a Letter Agreement with BCGold to option nine mineral claims that are part of its Wann River Project that border BCGold’s historic Engineer Mine and Gold Hill properties on Tagish Lake, 32 km west of Atlin, British Columbia (the “Claims”). The Claims are known to extend onto several high-grade gold veins and broad, gold-bearing shear structures previously defined by BCGold on the Engineer Mine and Gold Hill properties. By consolidating the Claims with BCGold’s Engineer Mine Area, the Company becomes a stakeholder in BCGold’s exploration and development of this now-contiguous land claim.
Under the terms of the Agreement, BCGold has the option to earn a 100% interest in the Claims over four years through the issuance of 1.25 million BCGold common shares, staged cash payments of $225,000, and incurrence of $400,000 in exploration work expenditures. Blind Creek will retain a 2% net smelter return on the Claims, which can be reduced to 0.5% by BCGold for a price of $1.5 million.
“Blind Creek is very pleased to be working with BCGold and to play a part in the Engineer Mine project,” commented Frank Callaghan., President and CEO of Blind Creek. “This association will benefit all our stakeholders as we work to advance Blind Creek’s exploration programs.”
AGM The shareholders approved all the resolutions put before them at the Company’s Annual General Meeting (the “AGM”) held on October 17, 2013 at Vancouver, BC. At the AGM shareholders voted to re-elect J. Frank Callaghan, Andrew H. Rees, and Thomas Kennedy as directors for the ensuing year; to reappoint BDO LLP as the Company’s auditors for the ensuing year and authorized the directors to fix the auditor’s remuneration; and approved the Company’s Stock Option Plan. The stock option plan is subject to TSX Venture Exchange approval. For more information on these matters, please refer to Blind Creek’s information circular, available on SEDAR (www.sedar.com).
Following the AGM, the directors reappointed Mr. J. Frank Callaghan as CEO and Ms. Jovi Hsieh as CFO of the Company. The Company’s audit committee is comprised of J. Frank Callaghan, Thomas Kennedy and Andrew H. Rees.
The Board of Directors would like to thank the shareholders for their ongoing support.
About Blind Creek Blind Creek is a mineral exploration company focused on the identification, acquisition, exploration and development of mineral properties in British Columbia and the Yukon. The Company’s activities are focused on completing equity financings to fund its operations, staking claims comprising the Atlin Property (which includes the Tagish Lake Project and Atlin Project) and Central Yukon Properties (Carlin Gold Project, Keno Silver Project, BCR-Blende Project, Blende-Ocelot Project), and acquiring its interests in the Blende Property and the Kaza Northstar Property. This news release has been prepared on behalf of the Board of Directors which takes full responsibility for its contents.
“J. Frank Callaghan”
J. Frank Callaghan, President and CEO Tel: (604) 669 – 6463
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events and conditions and therefore involve inherent risks and uncertainties. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward looking statements to conform these statements to actual results. All phases of the Company’s operations are subject to environmental regulation and governmental approval and permits and there can be no assurance that the Company will obtain all the requisite permits for future development. Mining is an inherently risky business with large capital expenditures and cyclical metals markets.
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 release.