AuRo Resources and White Gold Extend Letter of Intent
April 28 2011 - 9:35AM
Marketwired
AuRo Resources Corp. (TSX VENTURE: ARU) (the "Company") reports
that the Company and White Gold Corporation ("White Gold") have
extended the termination date of the Letter of Intent ("LOI")
originally announced on March 9, 2011. The termination date of the
LOI has been extended to May 6, 2011 to allow both parties to
complete their final due diligence reviews and to negotiate and
execute the definitive agreement for the transaction.
Overview of White Gold
Through its wholly-owned Colombian subsidiary, Oro Barracuda
SAS., White Gold has solicited nearly 70,000 hectares in Colombia
for mineral exploration. The concessions are a combination of
concession titles and applications, located in two major gold
regions of Colombia, covering parts of five departments
("Provinces"), including the nearby California-Vetas gold-silver
mining district, host to the recently acquired Ventana Gold Corp.'s
3.5 million oz La Bodega gold discovery, Greystar Resources Ltd.'s
multi-million ounce Angostura gold-silver deposit, and Galway
Resources. The balance of the properties are located in the
departments of Tolima and Quindio in three distinct blocks proximal
to the La Colosa project, a 12.3 million oz gold deposit discovered
by AngloGold Ashanti Ltd. La Colosa is one of the largest new gold
discoveries in South America.
ON BEHALF OF THE BOARD
Mark Lawson, President & CEO
Cautionary Note Regarding Forward-looking Statements
Certain statements contained in this news release may constitute
forward-looking information, within the meaning of Canadian
securities laws. Forward-looking information may relate to this
news release and other matters identified in the Company's public
filings, Forward-looking information and anticipated events or
results and can be identified by terminology such as "may", "will",
"could", "should", "expect", "plan", "anticipate", "believe",
"intend", "estimate", "projects", "predict", "potential",
"continue" or other similar expressions concerning matters that are
not historical facts and include, but are not limited in any manner
to, those with respect to capital and operating expenditures,
economic conditions, availability of sufficient financing, receipt
of approvals, satisfaction of closing conditions and any and all
other timing, development, operational, financial, economic, legal,
regulatory and/or political factors that may influence future
events or conditions. Such forward-looking statements are based on
a number of material factors and assumptions, including, but not
limited in any manner, those disclosed in any other public filings
of the Company, and include the ultimate availability and final
receipt of required approvals, sufficient working capital for
development and operations, access to adequate services and
supplies, availability of markets for products, commodity prices,
foreign currency exchange rates, interest rates, access to capital
markets and other sources of financing and associated cost of
funds, availability of a qualified work force, availability of
manufacturing equipment, no material changes to the tax and
regulatory regime and the ultimate ability execute its business
plan on economically favorable terms. While we consider these
assumptions to be reasonable based on information currently
available to us, they may prove to be incorrect. Actual results may
vary from such forward-looking information for a variety of
reasons, including but not limited to risks and uncertainties
disclosed in other Company filings at www.sedar.com and other
unforeseen events or circumstances. Other than as required by law,
the Company does not intend, or undertake any obligation to update
any forward looking information to reflect, among other things, new
information or future events.
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.
Contacts: AuRo Resources Corp. Tyler Ross Corporate Development
604-893-8838 AuRo Resources Corp. Jeremy Ross Corporate Development
604-893-8838 604-681-0796 (FAX) AuRo Resources Corp. Mark Lawson
President & CEO 416-623-0565
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