Adventure Gold Inc.

Adventure Gold Inc.

October 20, 2010 16:19 ET

Adventure Gold Inc.: Amendment to Terms of the Granada Extension Property Acquisition

MONTREAL, QUEBEC--(Marketwire - Oct. 20, 2010) - Adventure Gold Inc. (TSX VENTURE:AGE) (the "Corporation") announces that it has reached an agreement with the vendors to amend the terms of the previously announced acquisition (See News Release dated September 27, 2010 for more details). The parties have agreed that rather than 100,000 common shares and 150,000 share purchase warrants, the vendors will receive 150,000 common shares and 150,000 share purchase warrants, each warrant entitling the holder thereof the right to purchase an additional common share of the Corporation at a price of $0.25 per share for a period of 5 years. The other terms and conditions of the transaction remain unchanged.

All securities issued in connection with this acquisition will be subject to a four month hold period from their date of issuance. The transaction remains subject to regulatory approval.


Adventure Gold Inc. is a mining exploration company focused on discovering high quality gold deposits in the Abitibi greenstone belt located in north-west Quebec and north-east Ontario - one of the richest gold deposit areas in the world. Adventure Gold holds quality assets in the Val-d'Or, Quebec and Timmins, Ontario 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, Lake Shore Gold and RT Minerals to explore advanced stage gold properties. The Company owns more than $3.5M in cash and stocks and will continue to aggressively seek new properties in compliance with the corporate strategy.

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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