VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 14, 2012) - F.D.G. Mining Inc. ("FDG" or the "Company") (TSX VENTURE:FDG) is pleased to announce that it has negotiated a three year extension of the option agreement to purchase the Topacio gold concession located in eastern Nicaragua from Inversions Minerales S.A. ("IMISA"). The option period has been extended to April 30, 2016 with a review and a further extension, if necessary, at that time.
The final payment for the Topacio Property of US$3,000,000 will now be deferred to April 30, 2016, with the semi-annual option payments increasing from US$60,000 to US$90,000 effective May 1, 2013. Subject to the acceptance of the TSX Venture Exchange, FDG will also issue IMISA 420,000 common shares in consideration for granting the extension.
Management intends to release an operational update for the Topacio Project in the near future.
On behalf of the board of directors,
David St. Clair Dunn, P.Geo., President and CEO
Neither the 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.
Contact Information:
416.479.4433
www.fdgmining.com