TORONTO, ONTARIO--(Marketwired - Feb. 7, 2014) - KWG Resources Inc. (TSX VENTURE:KWG) ("KWG") and Bold Ventures Inc. (TSX VENTURE:BOL) ("Bold") are pleased to report that 10 million KWG treasury shares will be delivered for the option payment due to Fancamp Exploration Inc today. As previously reported, KWG is funding a further $2 million program under its agreement to earn from Bold an 80% interest in any chromite discovered within the claims optioned by Bold from Fancamp hosting the Black Horse chromite occurrence. Two drills are presently operating and recent YouTube videos from the site can be accessed on the websites of both Bold (www.boldventuresinc.com) and KWG (www.kwgresources.com).
KWG will also issue 282,500 shares at $0.05 to AGORACOM Inc. for the second payment under the shares for services contract announced November 7, 2013. All shares issued will have a hold period of four months.
About KWG: KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite occurrence where resources are being defined by a drilling program currently under way. KWG also owns 100% of Canada Chrome Corporation which has staked claims and conducted a $15 million surveying and soil testing program for the engineering and construction of a railroad to the Ring of Fire from Exton, Ontario.
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.
Shares issued and outstanding: 737,129,773