Incan Gold Corp
Incan Gold Corp: Incan Gold Corp Acquires Malibu Gold
Incan Gold Corp / Key word(s): Miscellaneous Incan Gold Corp Acquires Malibu Gold December 8, 2011 (EquityStory AG) – Incan Gold Corp (FSE:ING) (‘Incan’ or the ‘Company’) is pleased to report the acquisition of a 100% working interest in the Malibu Gold Property which is comprised of two mineral tenures encompassing 683.445 hectares physically proximate to the Jervis Inlet in the Province of British Columbia, Canada (the ‘Rights’). The Rights are subject to a 3% net smelter return in favor of the vendor, James Laird. Rodger Cowan, the President of Incan, commented that, ‘our review of the 43-101 compliant technical report on the Malibu Property clearly identifies the development path that needs to be followed. It is our intention to put a crew on the property as soon as possible for the specific purpose of completing some firsthand assessment work, confirming some existing data and defining the parameters of the recommended drilling program. I want to stress that the acquisition of the Malibu Property was motivated by a determination of value and the opportunity to enhance shareholder values. Management will continue to focus on the opportunities which we have identified in Peru and other South American countries however it seemed prudent and certainly in the best interest of our shareholders to assess the intentions of the Humala Government in Peru prior to committing capital and expertise to the opportunities which we have identified in that country.’ About Incan Gold Corp Incan Gold Corp (‘Incan’) was formed to identify developed or producing mining properties in politically stable South American countries and to take advantage of management experience and expertise in the South American mining industry, specifically to identify mining prospects that lend themselves to rapid development, production and, ultimately, the enhancement of shareholder values. Management has been specifically focused on certain precious metal opportunities in southern Peru however recent political developments in Peru have caused management to deploy corporate resources on the rapid exploitation of the Malibu Gold Property in North American while developing a better understanding of the manner in which the foreign investment in Peruviam mining prospects will be treated by the new government. The management of Incan is primarily focused on building reserves and utilizing positive cash flow to internally finance the development of prospects on a basis that avoids the undue issuances from treasury that impact negatively on earnings. On behalf of the Board of Directors Incan Gold Corp E-mail: info@incangold.ca Website: www.incangold.ca Statements in this document which are not purely historical are ‘forward-looking statements’, including any statements regarding the intent, belief or current expectations of Incan Gold Corp and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Forward looking statements are made based on management’s beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as updates may be required by applicable law. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Although the Company believes that the plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that those plans, expectations or intentions will prove to be accurate. Investors should consider all of the information provided in this press release within the context of the caveat implied in this information with respect to forward looking statements. End of Corporate News 08.12.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
145687 08.12.2011 |