King’s Bay Closes Property Purchase Agreement
Suite 1450 – 789 West Pender Street, Vancouver, BC, V6C 1H2 | Tel: 604.681.1568 | Fax: 604.681.8240
King’s Bay Closes Property Purchase Agreement
Vancouver, January 19th, 2017 – King’s Bay Gold Corporation (TSX.V: KBG), (FSE: KGB1) ,
operating as “King’s Bay” , a mining exploration and development company based in Vancouver
Canada, is pleased to announce that the TSX Venture Exchange has accepted for filing a property
acquisition agreement (the “Agreement”) dated October 4, 2016 between King’s Bay Gold
Corporation (the “C ompany”) and Crooks Lake Holding Limited, Cameron Martin and Jeffrey
Martin (the later three collectively being, the “Vendors”) to acquire 66 mineral claims located in
Happy Valley, Goose Bay, Newfoundland and Labrador (the “Property”).
The Lynx Lake Copp er/Cobalt property consists of 959 mineral claims encompassing
approximately 240 square kilometers, located 100 km southeast of Happy Valley -Goose Bay,
Newfoundland and Labrador. The Lynx Lake Project has returned historical grab samples assaying
up to 1.39% Cu, 0.94% Co, 0.21% Ni and 6.5g/t Ag.
In order to acquire the Property, King’s Bay must pay an aggregate of $100,000 and issue 900,000
common shares in the Company over a period of 3 years. The Agreement is subject to a 1.5% net
smelter royalty (“NSR”) of which the Company can purchase one-half of the NSR for $1,000,000 at
any time. In accordance to the agreement King’s Bay has made an initial payment of $ 30,000 and
has issued 200,000 shares to Crooks Lake Holding Limited and the Vendors.
The transaction is arm’s length.
Further information can be found in the Company’s news releases dated October 27, 2016 and
January 17, 2017.
About King’s Bay
King’s Bay is focused on the exploration of cobalt and other high ‐tech metals in North America.
The company believes in this emerging fast ‐growth sector and will continue to seek out and
evaluate properties that show promise for development. King’s Bay Gold Corp is operating as
King’s Bay.
On Behalf of the Board of Directors,
Kevin Bottomley
CEO, President
Suite 1450 – 789 West Pender Street, Vancouver, BC, V6C 1H2 | Tel: 604.681.1568 | Fax: 604.681.8240
Forward-Looking Statements
This news release contains forward -looking information which is subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to differ from those
projected in the forward -looking statements. These forward -looking statements are subject to a
variety of risks and uncertainties and other factors that could cause actual events or results to differ
materially from those projected in the forward -looking information. Risks that co uld change or
prevent these statements from coming to fruition include that the Company may not raise sufficient
funds to carry out our plans, changing costs for mining and processing; increased capital costs; the
timing and content of upcoming work progra ms; geological interpretations based on current data
that may change with more detailed information; potential process methods and mineral recoveries
assumption based on limited test work and by comparison to what are considered analogous
deposits that wit h further test work may not be comparable; the availability of labour, equipment
and markets for the products produced; and despite the current expected viability of the project, that
the minerals on our property cannot be economically mined, or that the r equired permits to build
and operate the envisaged mine cannot be obtained. The forwardlooking information contained
herein is given as of the date hereof and the Company assumes no responsibility to update or revise
such information to reflect new events or circumstances, except as required by law