NVV Norvista Capital Corporation

Norvista Capital Corporation ("Norvista" or the "Company") (TSX VENTURE:NVV) a
resource merchant banking company is pleased to report that it has entered into
an assignment agreement (the "Assignment Agreement") with Goldspike Exploration
Inc. (TSX VENTURE:GSE) ("Goldspike"), granting Goldspike the right to acquire
all of Norvista's rights, as lessee, under a mining lease agreement (the "Lease
Agreement") with Owyhee Exploration ll LLC, as lessor, that consists of a 100%
interest in the Lone Mountain Zinc Property (the "Property") comprised of 170
claims in Eureka County, Nevada.


Technical details and attributes of the Property are outlined in the press
release from Goldspike dated June 24, 2014 available at www.sedar.com and at
Goldspike's website www.goldspike.ca. Goldspike has reviewed the quality and
completeness of the exploration work completed on the Property during the period
2006-2008 and is satisfied at this point that the work was completed in a
professional manner and will provide updates on its follow-up work on the
Property as appropriate.


Principal Transaction Terms

Under the terms of the Assignment Agreement Norvista will assign and Goldspike
will assume all the rights and obligations of the lessee under the Lease
Agreement. Goldspike will hold its interest in the Lease Agreement through a
wholly-owned Nevada corporation, Lone Mountain Zinc Ltd.


The principal terms of the Lease Agreement require the lessee to make annual
lease payments of $25,000 to the lessor during the first three years of the
Lease Agreement, increasing to $50,000 in years four and five. Beginning in year
six and thereafter the lease payments increase to $100,000 per year, however,
these lease payments can be deducted from any net smelter returns royalty
payments from production, if any, during the year in which the lease payment is
made.


The lessee must make all payments to keep the Property in good standing and must
carry out work programs on the Property of not less than $50,000 per year in the
first three years of the Lease Agreement and $100,000 years four and five of the
Lease Agreement. 


The lessor will retain a 3% net smelter returns royalty on precious metals
production, if any, and a 2% net smelter returns royalty on base metal
production, if any. The royalties can be reduced to 2% and 1%, respectively,
under certain circumstances. 


The lessee has the right to lease the Property for an initial 20 year term with
the option to extend the term of the Lease Agreement thereafter. 


Donald H. Christie, President and Chief Operating Officer of the Company and R.
Bruce Durham, Managing Director of the Company both also serve as directors of
Goldspike. As such, the assignment of the Property under the terms of the
Assignment Agreement is a "related party transaction" for the purposes of
Multilateral Instrument 61-101 - Protection of Minority Security Holders in
Special Transactions ("MI 61-101"). The Company is relying on an exemption from
the minority approval and formal valuation requirements of MI 61-101 due to the
fact that the value of the transaction does not represent greater than 25% of
the Company's market capitalization. The independent directors of the Company
approved the Assignment Agreement and Messers. Durham and Christie abstained
from voting on the approval of the Assignment Agreement. Other than Mr. Durham
and Mr. Christie, no director of the Company abstained from voting on the
Assignment Agreement.


Pursuant to the terms of the Assignment Agreement Goldspike will issue 2 million
of its common shares ("Common Shares") to Norvista at a deemed value of $0.15
per Common Share and grant Norvista the right to subscribe to a private
placement of up to 3,333,333 Common Shares at the price of $0.15 per Common
Share for gross proceeds of up to $500,000 (the"Financing").


Consistent with its business model, this transaction allows Norvista to deploy a
portion of its capital to fund the exploration of the Property under the
supervision of Goldspike's exploration team, while also participating in the
upside potential of Goldspike's existing portfolio of Yukon gold exploration
properties. Norvista believes that Goldspike has a strong management team and
stable ownership structure and the Company will provide input into ongoing
strategy and capital deployment decisions at Goldspike in order to enhance
shareholder value.. 


The closing of the Assignment Agreement and the completion of the Financing are
subject to the approval of the TSX Venture Exchange. 


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.


CAUTIONARY STATEMENT: This news release contains forward-looking information
that is not comprised of historical facts. Forward-looking information involves
risks, uncertainties and other factors that could cause actual events, results,
performance, prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information. Forward-looking
information in this news release relates to, among other matters, the Company's
indirect interest in the Property under the terms of the Assignment Agreement
and the proposed Financing. Factors that could cause actual results to differ
materially from such forward-looking information include, but are not limited
to, failure to convert any estimated mineral resources to reserves, capital and
operating costs varying significantly from estimates, the preliminary nature of
metallurgical test results, delays in obtaining of failures to obtain required
regulatory approvals, political risks, uncertainties relating to the
availability and costs of financing needed in the future, changes in equity
markets, inflation, changes in exchange rates, fluctuations in commodity prices,
delays in the development of the Property, risks involved in the mineral
exploration and development industry, and those other risks set out in the
Company's public documents filed on SEDAR. The Company believes that the
assumptions and factors used in preparing the forward-looking information in
this news release are reasonable. Nevertheless, undue reliance should not be
placed on such information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur in the
disclosed time frames or at all. The Company disclaims any intention or
obligation to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, other than as required by
applicable securities laws. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Norvista Capital Corporation
Don Christie
President and COO
416-504-4171
dchristie@norvistacapital.com

Norvista Capital (TSXV:NVV)
Historical Stock Chart
From Oct 2024 to Nov 2024

Norvista Capital (TSXV:NVV)
Historical Stock Chart
From Nov 2023 to Nov 2024