AM Gold and Capella Announce Termination of Letter of Intent
24 Février 2011 - 2:25PM
Marketwired
AM Gold Inc. ("AM Gold") - (TSX VENTURE: AMG)(FRANKFURT: AMX) and
Capella Resources Ltd. - ("Capella") (TSX VENTURE: KPS) announce
that the letter of intent between Capella and AM Gold (the "letter
of Intent") has been terminated by mutual agreement of the parties.
For further information on the letter of Intent see the joint news
releases of Capella and AM Gold dated January 18, 2011 and February
4, 2011.
About AM Gold Inc.
AM Gold Inc. is a publicly held resource company based in
Vancouver, Canada. The Company is listed on the TSX Venture
Exchange under the symbol "AMG" and is quoted on the Frankfurt
Exchange under the symbol "AMX". The Company is focused on creating
shareholder value through the development of the Company's flagship
gold and gold-copper projects in the Yukon and Peru while building
a portfolio of quality pipeline projects in North and South
America. The Company's Red Mountain gold property is located in
central Yukon Territory approximately 55 kilometres northwest of
the community of Mayo in the Tintina Gold Belt. AM Gold holds an
80% interest in Red Mountain with an option to acquire 100%
ownership of the 52 contiguous claims that constitute the property
and cover approximately 1,168 hectares. AM Gold's Pinaya
gold-copper project is located approximately 775 kilometres
southeast of the city of Lima, Peru in the Tintaya Gold Belt. The
Company maintains 100% ownership of 35 mining concessions covering
the 19,200 hectare Pinaya land position. AM Gold's corporate
offices are located Suite 305 - 369 Terminal Avenue, Vancouver,
British Columbia, V6A 4C4 (phone: 604-646-0067).
About Capella Resources Ltd.
Capella Resources Ltd. is a publicly traded, junior exploration
and mineral development company with a strong portfolio of precious
and base metal projects in Chile, USA and Atlantic Canada. Capella
has a 100% interest in the Lajitas and Nevada gold-copper
properties located in the Maricunga Gold and Copper District and
approximately 700 kilometres northwest of Santiago, Chile. The
properties comprise ten exploration claims and six exploitation
claims totalling a cumulative 3,500 hectares in area. Capella holds
a 100% interest in the Tinton Gold Project located 15 kilometres
west-northwest of the famous and historic Homestake Mine in the
Black Hills at Lead, South Dakota. The Tinton property consists of
1,270 hectares contained in 157 unpatented mining claims. The
Company also holds 2,834 mineral exploration claims covering an
aggregate land area of over 50,879 hectares in Atlantic Canada
(Nova Scotia, New Brunswick and Newfoundland and Labrador).
Capella's head office is located at 108F Trider Crescent,
Dartmouth, Nova Scotia, B3B 1R6 (phone: 902-468-8280).
On behalf of the Board of AM Gold Inc.
Mark Lawson, CFO
On behalf of the Board of Capella Resources Ltd.
Richard Bachman, President and CEO
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: AM Gold Inc. Murray Caruth 1-604-646-0067
mcaruth@amgold.ca www.amgold.ca Capella Resources Ltd. Mike
McCleave 902-468-8280 or Toll Free: 1-877-342-7474
www.capellaresources.com
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