Harvest Gold Corporation has reached terms with San Gold Corp. to sell its CUD 3 claim in the Rice Lake Gold Belt in Manitoba, Canada.
The CUD claim is located 7 km from the gold mining community of Bissett, Manitoba, where San Gold operates two mines and a mill.
San Gold will acquire 100 percent of the CUD 3 claim in return for a payment of $225,000 to Harvest Gold, and will pay a further sum of $225,000 if and when any gold is produced from the CUD 3 claim.
“We are very pleased with the transaction as it completes our transition out of the Rice Lake Belt,” said Harvest Gold CEO Rick Mark. “We have basically recovered our exploration costs and have put the claim in the right hands. San Gold's team is motivated and very capable and we hope they will be successful in adding ounces to their Rice Lake package of properties.
“Harvest will now focus on acquiring gold projects in areas where larger prospective land packages, and/or more advanced projects can be acquired, explored and developed."
Harvest Gold Corporation is a mineral exploration company working in Nevada, USA, and in Ontario and Manitoba, Canada. In Nevada, the company controls 100 percent interests in the advanced-stage Rosebud Gold Mine property and at Garcia Flats in the South Carlin Trend.
In Manitoba, Harvest is engaged in early-stage exploration at its 100 percent owned Esker Gold claims in northwest Ontario and holds a 40 percent interest in the more advanced-stage, Assean Lake project in northern Manitoba.
