SOURCE: Lateegra Gold Corp.

Lateegra Gold Corp.

September 04, 2009 06:00 ET

Lateegra Acquires Latimer Lake Property Near Timmins

VANCOUVER, BC--(Marketwire - September 4, 2009) - Lateegra Gold Corp. (the "Company") (TSX-V: LRG) (FRANKFURT: LTGA) is pleased to announce the acquisition of a 100% interest in the Latimer Lake property, located southwest of Timmins, Ontario.

The Latimer Lake property, consisting of 2 mineral claims (10 claim units), covers a total of approximately 200 acres located immediately west of the Company's previously acquired Ranger property.

Further information on the property is available on the Government of Ontario, Ministry of Northern Development, Mines and Forestry website at http://www.geologyontario.mndm.gov.on.ca, search mineral deposits inventory (MDI) #MDI42A06SW00034. This information is not incorporated as part of our news release.

The Latimer Lake property has been acquired from arm's length optionors. Acquisition costs are a total of $10,000 upon signing of the agreement and 200,000 shares of the Company upon receipt of TSX Venture Exchange acceptance of the acquisition.

The optionors will retain a 2.5% net smelter returns royalty ("NSR"), of which 0.5% can be purchased by the Company for $1,000,000, leaving the optionors with a 2% NSR.

A finder's fee will be payable on this transaction in accordance with TSX Venture Exchange policy.

ON BEHALF OF THE BOARD OF DIRECTORS

"Peter Dickie"
Peter Dickie, Director

Cautionary note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has not filed a National Instrument 43-101 report on any property, but will do so as soon as the information is available. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.

"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."

Contact Information

  • Contact:
    Lateegra Gold Corp.
    Suite 1128 - 789 West Pender St.
    Vancouver, B.C., Canada V6C 1H2
    Tel: 604-669-9330
    Fax: 604-669-9335
    Toll Free: 1-866-669-9377
    email info@lateegra.com
    www.lateegra.com