Affinity Gold Corp. Signs Letter of Intent for $1M Commitment

Affinity Gold Corp. (AFYG.pk) (“Affinity” or “the Company”) is pleased to announce it has recently entered into a Letter of Intent (“LOI”) for a one million dollar funding commitment.

Under the terms of the LOI signed October 20th, the investing partner company will earn a 70% equity stake in the project in exchange for:

$25,000.00 USD cash deposit. $12,500.00 was received November 20th with remaining $12,500.00 to be paid upon completion of due diligence and signing of Formal Agreement expected to occur 60 days after entering into LOI.
$500,000.00 USD direct capital investment into the project for the sole purpose of establishing a pilot plant.
$500,000.00 USD reinvestment commitment from the pro rata earnings received from production.

This agreement will result in the investing partner company earning a direct equity interest in the project itself. There will not be any issuance of shares from Affinity Gold Corp. as a part of this transaction.

“This marks a significant step for Affinity towards delivering against its original promise made to shareholders. I am very pleased as this funding will represent the opportunity for us to begin moving forward again towards further developing our flagship project which according to our 2009 technical report showed Measured Reserves of over 36,000 ounces of gold with Indicated and Referred resources totaling over 2 million ounces,” stated President & CEO Corey J. Sandberg.

About Affinity Gold Corp.:

Affinity Gold Corp. is a mineral exploration and development company engaged in the acquisition, exploration and development of gold mineralization properties internationally. Affinity Gold Corp.’s current primary focus is gold exploration in Peru.

www.affinitygold.com

For further information please refer to the Company’s filings with the SEC on EDGAR available at www.sec.gov

FORWARD-LOOKING STATEMENTS

This news release may include "forward-looking statements" regarding Affinity Gold Corp., and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Affinity Gold Corp. expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Affinity Gold Corp. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Affinity Gold (CE) (USOTC:AFYG)
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