VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 15, 2011) - Integra Gold Corp. (TSX VENTURE:ICG) -
- Land package increased adjacent to flagship Lamaque Gold Project
- Initiated Market Making contract with Venture Liquidity Providers Inc.
- Resource update on schedule for Q2 2011
Integra Gold Corp. (Integra or the "Company") is pleased to announce, subject to regulatory approval, that the Company has entered into an option to acquire a 100% interest in the MacGregor property, located approximately 400 meters directly east of the Company's flagship Lamaque Gold Project in Val d'Or, Quebec.
The MacGregor property consists of eight claims in Bourlamaque Township, Quebec. Consideration for the property is $100,000 and 150,000 shares, all payable over a period of four years. There is a 2% net smelter return payable, one-half (1%) of which may be purchased for $500,000 (click this link to view the property: http://www.brmstatpack.com/lt/1005/1169/macgregor-property-acquisition_marketwire).
John de Jong, Company President states, "The proliferation of exploration and mining activity in the Val d'Or region has made it a challenge to locate and acquire property with high exploration value. Being able to option the MacGregor property located 400 meters directly east of our Lamaque Gold Project and its thirteen gold zones and within sight of the City of Val d'Or's mining infrastructure makes this purchase a significant accomplishment."
Also the Company would like to announce that it has retained Venture Liquidity Providers Inc. ("VLP") to initiate its Market Making Service to provide assistance in maintaining an orderly trading market for the Company's common shares. The Market Making Service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Limited, in compliance with the guidelines of the TSX Venture Exchange. VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX Venture Exchange-listed issuers. In consideration for their services, Integra has agreed to pay VLP $5,000 per month for a period of 12 months. The agreement may be terminated at any time by Integra or VLP. Integra and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in Integra or its securities. The agreement is subject to regulatory approval.
Our pending resource update release scheduled for Q2 as previously announced remains on target and the Company looks forward to publishing the results shortly.
LAMAQUE GOLD PROJECT
The Lamaque property is in the Val d'Or Gold Camp immediately adjacent to both the Sigma and Lamaque mines, which together have produced approximately 9.0 million ounces of gold. The current inferred gold resource at the Lamaque property is 375,375 gold ounces (1,238,308 tonnes at 9.43 g/t gold) according to Watts, Griffis and McOuat's NI 43-101 audit report (SEDAR, October 20, 2004). The current gold mineralized vein-system, indicated through drilling, is speared over an area that is 4,000m in strike length, 2,900m wide and open at depth.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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 news release.
Contact Information:
John de Jong
CEO
604.629.0891
jdejong@integragold.com
Integra Gold Corp.
Ariel Cobangbang
604.629.0891
ariel.c@integragold.com
www.integragold.com