Adventure Gold Inc.

Adventure Gold Inc.

April 19, 2012 08:30 ET

Adventure Gold Doubles its Lands Position Along 80 km of the Detour Gold Trend in the Abitibi Area, Quebec

MONTREAL, QUEBEC--(Marketwire - April 19, 2012) - Adventure Gold Inc. (TSX VENTURE:AGE) (the "Company") announced today the signing of an agreement for the acquisition of a 100% interest in 353 claims for 19,539 hectares (195 km2) located along the Detour Gold Trend (the "DGT") in Quebec. The seven new claim blocks acquired, contiguous with the Company's Detour properties, encompass three proven gold structures related with the DTG (see figures 1), namely the Sunday Lake, Massicotte and Lower Detour-Grasset deformation zones. The Company now holds a total of 714 mining claims covering a surface 386 Km2 along 80 km strike length of prospective gold structures. The DGT hosts the Detour Lake gold deposit with 43-101 proven and probable reserves of 15.6M ounces of gold (from a global measured and indicated resources of 23.3M ounces and inferred resources of 5.8M ounces : see Detour Gold Corporation, Press release dated January 25, 2012). A detailed geological compilation is in progress for the new claim blocks and geophysical surveys on selected areas are scheduled for the end of 2012. Since the beginning of the year, the Company has been quite active on its Detour Gold Trend's Casgrain, Martigny and Manthet properties. Airborne and ground geophysical surveys have been performed and results will be released soon.

"With this acquisition, Adventure Gold definitively becomes a major claim holder with significant up-side gold exploration potential, both at its Detour Gold Trend properties and on the newly acquired lands. The new properties already contain high quality gold exploration targets and the Company intends to better define and drill test it in the near future. While the Company continues to focus in 2012 on the exploration of the Pascalis gold project, this new acquisition assures a pipeline of exploration opportunities at different exploration stages, all in the Abitibi area" stated Marco Gagnon, President and CEO of Adventure Gold Inc.

The new properties, located 130 kilometres North of La Sarre, Quebec, are mainly accessible by gravel and winter forestry road. Very limited exploration work has been performed by the past over these deformation zones and bedrock exposures are limited. However, the Company's geological compilation of historical work already outlined the presence of significant gold anomalies in glacial sediments that were intersected by reverse circulation drilling (see figures 1) which returned positives gold results grading from 0.5 g/t Au to 4.9 g/t Au. For more information on the Property, please visit our website at and see the figure 1 available at:

The Agreement

Under the terms of the agreement, the Company has acquired a 100% interest in 353 claims by paying the vendors (arm's length independent prospectors) $200,000, issuing 700,000 treasury common shares, and 300,000 warrants at an exercise price of $0.45 for a period of five (5) years following their issuance, of which an amount of $75,000 is immediately payable and 300,000 treasury common shares and 300,000 warrants are immediately issuable, the balance to be issued over a two (2)-year period. A 1.5% NSR is granted to the vendors and the Company shall have the right to purchase 1.0% of the NSR at any time by paying the vendors 1,000,000$. The securities to be issued by the Company pursuant to the agreement will be subject to a four-month hold period from their date of issuance. This agreement is subject to regulatory approval.

Jules Riopel, P.Geo., Vice-President Exploration and Acquisitions, acting as the Company's "Qualified Person" as defined by NI 43-101, has reviewed this press release.


Adventure Gold Inc. is a mineral exploration company focused on discovering high-quality gold deposits in the Abitibi Greenstone Belt located in northwestern Quebec and northeastern Ontario - one of the richest gold deposit areas in the world. Adventure Gold holds quality assets in the Val-d'Or, Rouyn-Noranda and Timmins areas and is led by determined management and technical teams with extensive exploration and mine production experience. Adventure Gold is proud to count on highly regarded partners such as Agnico-Eagle Mines Limited and Lake Shore Gold Corp. to explore some of its advanced-stage gold properties.

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The foregoing information may contain forward-looking statements and events relating to the future performance of the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate regulatory authorities. We seek safe harbour.

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.

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