Everton Resources Inc.
TSX VENTURE : EVR
FRANKFURT : ERV

Everton Resources Inc.

April 01, 2014 08:30 ET

Everton Completes Dominican Republic Acquisition

OTTAWA, ONTARIO--(Marketwired - April 1, 2014) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Everton Resources Inc. ("Everton" or the "Company") (TSX VENTURE:EVR)(FRANKFURT:ERV) is pleased to announce that it has completed its previously-announced arm's length acquisition of an Ontario-based private company (the "Target") which holds an option on six mining concessions in the Dominican Republic (see news release October 25, 2013). The acquisition was completed following the amalgamation of Everton's wholly-owned subsidiary with the Target.

As consideration for the acquisition, Everton issued an aggregate of 6,500,000 common shares (the "Shares") registered in the respective names of the shareholders of the Target (the "Shareholders"), 2,500,000 of which were released on March 28, 2014, the effective date of the amalgamation (the "Closing Date"). Pursuant to the terms of the amalgamation agreement, Everton will release the remaining Shares as follows: (i) 2,000,000 Shares on September 28, 2014, and (ii) 2,000,000 Shares on March 28, 2015. In addition, Everton has reserved and allotted a total of 4,000,000 Shares (the "Supplemental Shares") 2,000,000 of which will be issued to the Shareholders, on a pro rata basis, on each of the 18th and 24th month anniversaries of the Closing Date or earlier if the concessions are granted prior to these dates. The total number of Supplemental Shares to be issued may be reduced should any of the concessions be denied. No new insider has been created as a result of the foregoing transactions.

Pursuant to the National Instrument 45-102 Resale of Securities, all of the 6,500,000 common shares issued in connection with the acquisition are subject to a four-month "hold period" expiring on July 29, 2014.

In connection with the closing of the acquisition, Everton also received a right of first offer on eleven additional mining concessions located in the Dominican Republic from a private company controlled by the Shareholders.

A description of the six mining concessions may be found in the Company's October 15, 2013 news release.

About Everton Resources Inc.

Everton is actively exploring in the Dominican Republic adjacent to the Pueblo Viejo Mine, owned by the world's two largest gold mining companies, Barrick Gold Corporation (60%) in partnership with Goldcorp Inc. (40%) ("Goldcorp"). Everton also holds an interest in the Opinaca region of James Bay, Quebec where the Company has partnered with Hecla Mining Company (formerly Aurizon Mines Ltd.) which is advancing Everton's interest by funding exploration work on one of the largest land packages adjacent to Goldcorp's Eleonore gold deposit.

For further information on Everton Resources Inc., please visit www.evertonresources.com.

This news release contains certain forward-looking statements that involve risks and uncertainties, such as statements of Everton's plans, objectives, strategies, expectations and intentions. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to Everton, or its management, are intended to identify such forward-looking statements. Many factors could cause Everton's actual results, performance or achievements to be materially different any future results, performance or achievements that may be expressed or implied by such forward-looking statements. The forward-looking statements included in this press release represent Everton's views as of the date of the release. While Everton anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information. All subsequent written and oral forward-looking statements attributable to Everton or persons acting on its behalf are expressly qualified in their entirety by this notice.

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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