Vangold Mining Corp. Signs Binding LOI to Acquire Intermont Resources LLC’s vast Nevada, USA Property Assets
Vangold Mining Corp. Signs Binding LOI to Acquire Intermont Resources LLC’s
vast Nevada, USA Property Assets
August 27, 2018 – Vancouver, BC - Vangold Mining Corp . (the “ Company” or “ Vangold”)
(TSXV:VAN) (OTC:VGLDF) is pleased to announce the signing of a binding Letter of Intent (“LOI”)
with Intermont Resource LLC (“Intermont”), pursuant to which Vangold is to acquire 100%
interest in Intermont Resources LLC’s assets, which encompass 18 mineral properties in northern
Nevada (the “Transaction”). These properties comprise 5,548 mining claims both recorded and
staked with the Bureau of Land Management (BLM), totaling over 46,000 hectares. Most of the
properties are located near or adjacent to known gold deposits or mines.
Acquisition Terms
An initial cash payment of $100,000 USD and issuance of $200,000 USD worth of Vangold
common shares is to be made on closing the Transaction and an additional $400,000 USD in value
will be paid out over 4 installments over the 24 months following closing, payable in Vangold
common shares . The price of all common shares to be issued by Vangold pursuant to the
Transaction is to be based on a 10 -day VWAP prior to closing of the Transaction . Principals of
Intermont will retain a “Success Fee” based on realized Au ounces determined by PEA and a 2 %
net smelter royalty (NSR) of which one percent can be purchased for $3.0 million USD.
Cameron King, CEO of Vangold Mining , commented: “We are pleased with the results of our
negotiations and finalizes the acquisition for a highly scientific selection of properties. The data
indicates a strong potential for material deposits in several of these anomalies.”
The Intermont properties were generated by integrating regional tectonic analysis and range
geologic mapping with geophysics, geochemistry and geobotany. Many targets are on pediment,
concealed beneath shallow gravel. Such pediments have been underexplored in Nevada and are
likely to host the next discoveries. Examples of such conce aled pediment ore bodies include
Barrick’s (ABX:NYSE) Pipeline Mine, a Carlin-type deposit along the Cortez trend and Paramount
Gold’s (PGZ:NYSE) Sleeper Mine, a resource of low -sulfidation epithermal vein deposit, in the
Awakening district. Intermont has 950 mining claims (totaling over 7,900 hectares) on three sides
of the Sleeper high-grade gold deposit. The Intermont “Sleeper Project” will be one of Vangold’s
drilling priorities.
The following figure shows the location of the Intermont claim blocks and nearby known deposits
or mines. Seven priority properties are located along strike on mineral -controlling structures at
Sleeper, Sandman, Spring Valley, Relief Canyon, Twin Creeks, Phoenix and Hollister. The targets
and the nearby deposits are a mix of low sulfidation epithermal vein gold/silver deposits, Carlin-
type sediment -hosted gold deposits and Phoenix -type copper -gold skarn deposits. Five
Intermont projects have approved drilling permits, are fully bonded with the BLM and ready to
drill.
The Intermont projects were generated by founder and president M. C. Newton, III, PhD, CPG,
an economic geologist with 30+ years of experience in mineral exploration, who has held senior
technical and management positions with several mineral resource compan ies and consulting
firms. Dr. Newton will join Vangold, manage exploration on the Intermont projects and lead the
development of Vangold’s Mexican projects.
The Transaction is conditional upon the parties receiving all requisite reg ulatory approval,
including the approval of the TSX Venture Exchange, and any third party approvals and
authorizations.
About Vangold Mining Corp.
Vangold Mining Corp is a Canadian-based precious metal mining company whose goal is to
acquire significant exploration opportunities supported by a defined set of geological principals.
The Company has a diverse range of quality projects in Mexico and is now expanding with a
massive land package in Nevada USA . Vangold will continue to expand its portfolio with near
production opportunities that bring value to shareholders by providing longer term exploration
upside and mineral resource growth potential.
About Intermont Resources LLC
Intermont Resources LLC is a Nevada based precio us metal exploration company whose goal is
to identify and acquire prime mineral rights in exploration for large high -grade epithermal vein
and Carlin -type gold deposits in Nevada. Intermont employs state -of-the-art scientific and
exploration methodologies and has acquired large land packages with the potential for major
discoveries near or adjacent to major known gold deposits and mines.
The Company’s Common Shares trade on the Toronto Venture Stock Exchange under the symbol
“VAN” and on the OTC American Exchange under the symbol “VGLDF”.
ON BEHALF OF THE BOARD OF DIRECTORS
"Cameron S. King"
President, CEO and Director
For further information regarding Vangold Mining Corp, please contact:
Cameron King, +1 (604) 499-6545
Email: [email protected]
OR
Kevin Arias +1 778 773 4786
Vice President Corporate Finance
Email: [email protected]
Continue to Follow, Like and Watch our progress: Web: www.vangoldmining.com
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.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed
Transaction and has neither approved nor disapproved the contents of this press release.
Forward-Looking Statements
This news release contains certain “forward -looking statements”. This forward -looking information includes, or may be based
upon estimates, forecasts and statements of management’s expectations with respect to, among other things, the completion of
the proposed Transaction , the issuance of permits, the size and quality of mineral resources , future trends for the company,
progress in development of mineral properties, future production and sales volumes, capital costs, mine production costs,
demand and market outlook for metals, future metal prices and treatment and refining or milling charg es, the outcome of legal
proceedings, the timing of exploration, development and mining activities, acquisition of shares in other companies and the
financial results of the company. There can be no assurances that such statements will prove to be accurate and actual results
and future events could differ materially and substantially from those anticipated in such statements. Investors should not rely
on forward-looking statements because they are subject to a variety of risks, uncertainties and other fact ors that could cause
actual results to differ material ly from Vangold's expectations, and expressly does not undertake any duty to update forward -
looking statements. These factors include, but are not limited to the following, limited operating history, pr oposed exploration
and/or drill programs and other fac tors which may cause the actual results, performance or achievements of Vangold to be
materially different from any future resul ts, performance or achievements expressed or implied by such forward -looking
statements.