Malbex Resources Inc.

Malbex Resources Inc.

April 06, 2015 17:42 ET

Malbex Resources Inc. Completes the Transfer of Its Interest in the Del Carmen Project to Barrick Gold Corporation

TORONTO, ONTARIO--(Marketwired - April 6, 2015) - Malbex Resources Inc. ("Malbex") (TSX VENTURE:MBG) is pleased to announce that it has completed the previously announced transfer of its remaining interest in the Del Carmen project in San Juan Province, Argentina (the "Del Carmen Project") to a subsidiary of Barrick Gold Corporation ("Barrick") for consideration of US$4,750,000 and a 0.5% net smelter royalty on the Del Carmen Project (the "Del Carmen Transfer").

The Del Carmen Transfer was completed by Malbex transferring its 95% indirect interest in the entity which holds the exploration agreement covering the Del Carmen Project (the "Joint Venture Company") to a wholly-owned subsidiary of Barrick. As a result of the completion of the Del Carmen Transfer, the Joint Venture Company is now 100% controlled by Barrick and the shareholders' agreement governing the Joint Venture Company has been terminated.

The TSX Venture Exchange issued its final acceptance and approval of the Del Carmen Transfer on March 25, 2015.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Malbex Resources Inc.
    Joe Hamilton
    President and Chief Executive Officer
    (416) 619-3164