Encore Renaissance Resources Corp.

Encore Renaissance Resources Corp.

December 15, 2010 03:51 ET

Encore Renaissance Announces Acceptance of 75% Interest in Bonaparte Gold Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2010) - Encore Renaissance Resources Corp. (TSX VENTURE:EZ)(FRANKFURT:OUH1)(PINK SHEETS:ERRCF) (the "Company") reports on increasing its interest to 75% in the Bonaparte Gold Property.

This is to confirm that TSX Venture Exchange has accepted for filing an Amended Agreement dated November 10, 2010 between encore Renaissance Resources Corp. (the "Company") and BCT Mining Corp. ("BCT"), whereby the Company exercised its option to earn its 75% interest in the Bonaparte Property (the "Property"). 

Encore Renaissance has paid a total of $7,000,000, issued 12,500,000 shares and incurred work costs of at least $3,405,401 and had earned a 51% interest in the Property. In consideration of the excess work costs incurred by the Company on the Property, BCT has agreed to accept the issuance of 20,000,000 shares by the Company as the final payment required for the Optionee to earn a 75% interest in the Property and waive any further payment.

The company is also please to announce it has received from the Ministry of Environment authorization to extend its underground effluent discharge permit to April 17, 2011. This extension gives the company time to finalize its application for a full discharge permit. All environmental impact information complied over the 15 months of operation has been submitted into the Ministry of Environment for the approval process. 

"Michael Mulberry"

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

Contact Information

  • Encore Renaissance Resources Corp.
    Michael Mulberry
    President and Director
    Encore Renaissance Resources Corp.
    Head Office Address
    Suite 809 - 27 Alexander St
    Vancouver, BC
    Canada, V6A 1B2