C2C Gold Corporation Inc.
TSX VENTURE : CCN

C2C Gold Corporation Inc.

November 15, 2007 17:28 ET

C2C Announces the Signature of an Option Agreement on the Blackcliff Gold Property, Located in Malartic Township, Quebec

MONTREAL, QUEBEC--(Marketwire - Nov. 15, 2007) - C2C Inc. (TSX VENTURE:CCN)(the "Company" or "C2C") is pleased to announce that it has signed, conjointly with Animiki Mining Corporation Ltd. ("Animiki"), an option agreement (the "Agreement") to purchase as equal partners, a 100% interest in the Blackcliff property (the "Property"), located in Malartic Township, Quebec. The Property is presently owned by Globex Mining Enterprises Inc. ("Globex") and Altai Resources Inc. ("Altai").

C2C is pursuing its objective of improving its Quebec mineral properties portfolio while continuing the development of its Ecuador projects. This acquisition adds to its portfolio of Quebec properties which includes the New Bidlamaque, Opinaca and Fourniere properties, on which C2C has started exploration work.

The Blackcliff property is located to the South of the central part of the Abitibi metavolcanic diorite belt, about 1 km north of the Kewagama property. The Property consists of three mining claims.

According to information released on the Altai website, fourteen (14) gold zones have been discovered on the Property, several of which are discontinuous lenses along the same horizon. Ten (10) zones are considered important.

In May 1988, a cut resource calculation performed on veins #1, #2 and #3 by Isabelle Cadieux, P Geo., yielded to a total resources of 210,370 tonnes grading at 7.6 g/t Au.

In March 1989, Jean-Pierre Labelle, P. Geo., did a geological ore-resource calculation on veins #11, #12 and #13 which are three sub-parallel auriferous zones within a 10 meter-wide corridor, and on vein #7, a fourth auriferous vein located at the NW end of veins #11, #12 and #13, yielded to a total resources of 255,972 tonnes at 6.71 g/t Au cut.

Assuming that Cadieux' and Labelle's calculations are correct (they have not been independently checked by Altai or C2C) a gold resource of at least 466,342 tonnes grading 7.11 g/t Au (513,909 tons grading 0.21 oz/ton Au) cut exists on the property. The resources are to a depth of 200 meters (600 feet). There is a potential to increase the resources.

Globex and Altai grant to Animiki and C2C an exclusive right to purchase a 100% interest in the Property in exchange for:

- At the signature of the Agreement, pay $25,000 and issue 400,000 shares of C2C capital shares split equally between Globex and Altai;

- 4 months following the signature of the Agreement, C2C will pay an additional $50,000 split equally between Globex and Altai;

Thereafter, C2C and Animiki commit themselves:

- at the first anniversary date of the signature of the Agreement, pay on an equal basis $100,000 split equally between Globex and Altai, and grant to each Globex and Altai 50,000 shares of Animiki and 50,000 shares of C2C ;

- at the second anniversary date of the signature of the Agreement, pay $200,000 split equally between Globex, and grant to each of the two 50,000 shares of Animiki and 50,000 shares of C2C and ;

- at the third anniversary date of the signature of the Agreement, pay $200,000 split equally between Globex and Altai and grant to each of the two 50,000 shares of Animiki and 50,000 shares of C2C.

According to the Agreement, C2C and Animiki will conduct exploration work for the following amounts and schedule:

- $500,000 during the first twelve months following the signature of the Agreement;

- $750,000 during the second year;

- $1,250,000 during the third year, and:

- $2,500,000 during the fourth year.

It is also understood that should Animiki fail to become a public listed company within 6 months of the signature of the Agreement, C2C will, with Globex's and Alai's consent, assume 100% interest, responsibility and liability for this agreement including 100% of all cash, share and royalty obligations and payments.

Globex and Altai will retain a 3% gross metal royalty payable by Animiki and C2C on any mineral production from the property.

Globex and Altai will receive a 10% net profits royalty from the property after Animiki and C2C have recovered up to $3,500 000 in direct capital costs incurred after the monitory and share issuances have been met in full and prior to commercial production.

Should C2C and Animiki begin commercial production of the Property within the first three years following the signature of the Agreement, C2C and Animiki will pay the rest of the cash payments and grant the rest of the due shares. However, C2C will not have the obligation to undertake further exploration expenditures on the Property. For purpose of the Agreement, commercial production means, and is deemed to have started when ore from the Property is transported to a refinery or smelter for processing.

Beginning on the sixth year of the signature of the Option Agreement, C2C and Animiki will pay to Globex and Altai on an annual basis a $50 000 per year advance production royalty, split equally between Globex and Altai, deductible from future production.

C2C is an exploration company with properties in Quebec and Southwest Ecuador. C2C is actively pursuing its due diligence program for the acquisition of the cooperative Bella Rica gold mine in Ecuador.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

The acquisition of the Property is conditional upon approval by the competent authorities.

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