|May 31, 2012|
Newton Converts Interest in Newton JV to a 5% Net Profits Interest
|Vancouver, British Columbia (May 31st, 2012) -- Newton Gold Corp ("Newton Gold" or the "Company") wishes to announce they have chosen to convert its 20% Participating Interest in the Newton Joint Venture, in accordance with the terms of the JV Agreement, to a 5% Net Profits Interest. The decision to convert was made by way of a costs/benefits analysis of the project going forward. |
The Company will no longer have a continued funding requirement to the Joint Venture and will hold a 5% Net Profit Interest on the entire 1,478 sq/km Newton property including any future discovery.
About Newton Gold Corp
Newton Gold Corp. is a British Columbia focused exploration company with two advanced exploration projects. The Company has an experienced management team with a growth strategy to develop a diversified portfolio of exploration projects that can be taken into production. The Company's main objective is to add shareholder value through cost efficient exploration, strategic acquisitions, joint ventures, and effective marketing while maintaining a lower risk profile through project diversification and sound financial management.
ON BEHALF OF THE BOARD OF DIRECTORS
"Mark A. McLeary"
Neither 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.
You can view the Next News Releases item: Tue Dec 4, 2012, Newton Gold signs option to acquire kaolin deposit in Nova Scotia
You can view the Previous News Releases item: Thu Apr 12, 2012, Newton Gold Expands Chuchi Property to 6,900 ha
You can return to the main News Releases page, or press the Back button on your browser.