VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 12, 2014) - Granite Creek Gold Ltd. (the "Company") (TSX VENTURE:GCX) wishes to announce that it has returned the Taseko Project (the "Project") to the vendors, Great Quest Fertilizer Ltd. (TSX VENTURE:GQ) (Formerly Great Quest Metals Ltd.), per the Option Agreement dated January 27, 2011 and amended June 29, 2012.
As part of returning the Project, the Company has negotiated a 5% finder's fee on potential agreements related to the Project.
This relinquishment fits with the Company's increasing focus on West Africa and releases the Company from the requirement to spend $1,000,000 on the Project before August 24, 2014 as well as the issuance of 2,250,000 shares.
About Granite Creek Gold
Granite Creek is a Vancouver based exploration company in the business of acquiring and carrying out exploration on mineral properties, especially those with precious metals potential, with the goal of establishing a mineable mineral resource. Granite Creek's Malian project consists of the 75 sq km Darsalam gold concession on which it has an option to acquire a 100% interest. The Company also has projects in British Columbia consisting of the 100% owned 654 ha Railway Property, a copper project in the highly prospective Stikine arch area of northwestern BC and the 5611 ha Troitsa Property, a copper/molybdenum/gold/silver property located in central BC, on which it has an option to acquire a 100% interest.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to regulatory approvals, exploration programs, and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include the Company's ability to obtain regulatory approval and to complete its exploration programs on schedule and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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.