ENDURANCE ANNOUNCES RECEIPT OF A FURTHER 550,000 GFG RESOURCES INC. SHARES Rattlesnake Hills Property Divestment is now complete
ENDURANCE GOLD CORPORATION
#520 – 800 West Pender Street
Vancouver, B.C. V6C 2V6
Tel: (604) 682-2707 Fax: (604) 681-0902
NEWS RELEASE 17-01 February 09, 2017
ENDURANCE ANNOUNCES RECEIPT OF A FURTHER 550,000 GFG RESOURCES INC. SHARES
Rattlesnake Hills Property Divestment is now complete
Endurance Gold Corporation (EDG – TSX.V, “Endurance” or the “Company”) is pleased to provide an update with respect to the
Company’s shareholding investment in GFG Resources Inc. (GFG-TSXV) (“GFG”). GFG owns, subject to underlying royalties, an undivided
100% interest in the Rattlesnake Gold exploration district comprised of unpatented lode mining claims and state fee land leases totaling
33,500 acres in the Rattlesnake Hills District, Natrona County, Wyoming, located approximately 100 kilometres southwest of Casper
in central Wyoming, USA.
As announced October 13 2015, the Company’s Rattlesnake Hills property was sold to GFG through the payment of US$150,000 in
cash and the issuance of 1,400,000 GFG shares to Endurance (850,000 GFG shares were issued on closing and the balance of 550,000
GFG shares were subject to issuance on or before February 7, 2017). The second tranche of 550,000 shares has now been received.
Endurance retains a 2% net smelter returns royalty on Endurance’s former federal mining claims (6,997 acres). GFG can purchase
one half of the Endurance Royalty on or prior to December 31, 2017 for a cash payment of US$750,000, and thereafter, at any time,
for a cash payment of US$1,500,000. Additional bonus share payments totaling 750,000 GFG shares are payable under certain
circumstances related to any discovery on Endurance’s former property.
About Endurance
Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North
American mineral properties with the potential to develop world -class deposits. The Company's exploration focus, for projects
operated by Endurance, is intrusive-related mineral systems with potential for discovery of major new precious or rare metals deposits,
and its business plan offers shareholders exposure to several majority-owned exploration projects with significant discovery potential
such as the Elephant Mountain Gold Property in Alaska and the Bandito Rare Earth-Niobium Property in the Yukon. The company also
owns a significant share holding in Inventus Mining Inc. (IVS-TSXV) which controls the entire Pardo paleoplacer gold district near
Sudbury, Ontario and GFG Resources Inc (GFG-TSXV) which controls the entire Rattlesnake Hills gold district, Wyoming. Please visit
www.endurancegold.com.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
FOR FURTHER INFORMATION, PLEASE CONTACT
(604) 682-2707, [email protected]
www.endurancegold.com
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adequacy or accuracy of this news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding
future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.