New Global Ventures International Ltd.
TSX VENTURE : NNG

New Global Ventures International Ltd.

March 03, 2010 09:00 ET

New Global to Acquire Gold Project in Historic Angostura-California Gold District in Colombia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2010) - Further to the New Global Ventures International Ltd. (TSX VENTURE:NNG) press release dated January 28, 2010, and a recent visit by corporate officers to the Angostura-California gold district, New Global Ventures International Ltd. (the "Company") is pleased to provide additional details on its proposed acquisition of a 100-per-cent interest in the 141-hectare "El Primo" mining concession. The concession, known as the El Primo property, is strategically located within the prolific and historic Angostura-California gold district, within the municipality of Cucutilla, Norte de Santander, Colombia. This district is home to Greystar Resources' multi-million oz. Angostura gold and silver deposit, as well as Ventana Gold Corp's La Bodega Project.

The Angostura-California gold district is a belt of epithermal gold occurrences of the high-sulphidation type and is characterized by the association of gold with silver, copper, arsenic, bismuth, molybdenum and tellurium. "The El Primo project is contiguous to and contains the same 'Precambrian' host rock as Greystar's Angostura deposit," said Mr. Mark Lawson, New Global Ventures International Ltd. President and CEO, "and appears to also be on strike, as our geological team has indicated that the 'Cucutilla Fault' appears to intersect with Greystar's Angostura block, and also with the northwest section of the 'El Primo property'." The location of the "El Primo property" is available by clicking on the following link: http://media3.marketwire.com/docs/nng33.pdf.

Upon completion of and TSX Venture acceptance of the property acquisition, and the Company's non-brokered private placement, New Global will immediately commence its Phase I exploration program. The program is comprised of geological mapping, soil sampling and the completion of a technical report prepared in accordance with the requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. However, at this point there has been insufficient exploration to define a mineral resource.

"Our thesis is that Colombia continues to be under-explored and is jurisdictionally mining-friendly," said Mr. Lawson. "Our project is close to the necessary infrastructure, and is contiguous to a world-class discovery at Angostura."

ON BEHALF OF THE BOARD

Mark Lawson, President & CEO

The TSX Venture Exchange has in no way passed upon the merits of the proposed transactions, and has neither approved nor disapproved the contents of this press release.

Contact Information

  • New Global Ventures International Ltd.
    Jeremy Ross
    Corporate Development
    604-893-8838
    or
    New Global Ventures International Ltd.
    Tyler Ross
    Corporate Development
    604-893-8838
    604-662-3904 (FAX)
    or
    New Global Ventures International Ltd.
    Mark Lawson
    President & CEO
    416-623-0565