Stellar Africagold Sells Eastmain River Claims; Completes Balandougou Acquisition
STELLAR AFRICAGOLD SELLS EASTMAIN RIVER CLAIMS; COMPLETES
BALANDOUGOU ACQUISITION
Montreal, March 14, 2017 – John Cumming, President and Chief Executive Officer of Stellar AfricaGold Inc. ,
(TSX-V: SPX) ("Stellar" or the "Company") is pleased to announce:
SALE OF EASTMAIN RIVER CLAIMS
Stellar has agreed to sell its Eastmain River claims , Québec, to Amex Exploration Inc. for 350,000 shares and a
1.5% Net Smelter Return royalty of which 50% (0.75%) may be bought back for $750,000. The transaction is
subject to required TSX Venture Exchange approvals.
BALANDOUGOU ACQUISITION CLOSED
The Company has issued 750,000 shares completing the acquisition of UltraGold Holding LLC’s (“UltraGold)
49% interest in the Balandougou Gold Project properties. The shares are subject to a four-month hold period
expiring July 14, 2017. (see news release January 25, 2017)
COMMENTARY
“Stellar’s primary focus is and will continue to be its now wholly-owned Balandougou gold project in Guinea
where the 15,000 tonne bulk sample program (news release March 1, 2017) is proceeding on time and on
budget” said Stellar president John Cumming. “The two Eastmain River claims blocks, the 1,950 hectares 37 claim
Eastmain South and the 840 hectares Eastmain North, are a non -core asset that competes for available
exploration funds with our core project, Baladougou. The conversion of the Eastmain River claims into
marketable securities will strengthen Stellar’s balance sheet. Finally, Stellar retains a royalty and will participate
in any ultimate exploration success at Eastmain.”
ABOUT STELLAR AFRICAGOLD INC.
Stellar AfricaGold Inc. is a Canadian gold exploration Company based in Montreal, Quebec, with operations
concentrated mainly in West Africa and in Quebec.
The Company is currently developing the promising gold potential of the Balandougou project in Guinea, which
is at an advanced exploration stage, as well as of the Namarana project in Mali.
In Quebec, the Company owns 100% of the Opawica Project in the Chibougamau mining camp.
The technical content of this press release has been reviewed and approved by independent consultant Greg
Isenor, P. Geo, a Qualified Person as defined in NI 43-101.
For further information please contact Maurice Giroux, VP Exploration, Stellar AfricaGold Inc., 410 St-Nicolas,
Suite 236, Montréal (Québec) H2Y-2P5. Tel.: 514-866-6299 Email: [email protected] or access the
Company’s website at www.stellarafricagold.com.
On Behalf of the Board
John Cumming, LLM,
President & CEO