NFX Gold Inc.
TSX VENTURE : NFX

NFX Gold Inc.

September 19, 2007 10:09 ET

NFX Gold Agrees to Purchase Remaining 25% Interest in the Barber Larder Property; Grants Options to Consultants

TORONTO, ONTARIO--(Marketwire - Sept. 19, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES.

NFX GOLD INC. (TSX VENTURE:NFX) ("NFX" or the "Company") is pleased to announce that it has signed an agreement to purchase from Gwen Resources Ltd. ("Gwen") the remaining 25% interest in the mineral rights to the Barber Larder property consisting of nine patented mining claims in the Township of McGarry, Larder Lake Mining Division, Ontario. Subject to regulatory approval, and the payment of $250,000 together with the issuance to Gwen of 1,000,000 common shares of NFX at a deemed value of $0.40 per share, NFX will be the holder of a 100% interest in the mineral rights of the Barber Larder property. NFX and Gwen each retain a 50% interest in the surface rights of the Barber Larder property.

NFX also announces that it has reserved a price of $0.41 per share for the grant of stock options to acquire up to 275,000 common shares of the Corporation (the "Stock Options"). The Stock Options have been granted to consultants of the Corporation. Each Stock Option entitles the holder thereof to acquire one (1) common share of the Corporation at an exercise price of $0.41 per common share prior to the close of business on September 19, 2012.

This release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking statements. Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource on the properties mentioned above and it is uncertain if further exploration will result in any such target being delineated as a mineral resource. Forward-looking statements reflect the current internal projections, expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • NFX GOLD INC.
    Thomas G. Larsen
    President and Chief Executive Officer
    (416) 360-8006
    (416) 361-1333 (FAX)
    or
    NFX GOLD INC.
    Jorge Estepa
    Vice President
    (416) 360-8006
    (416) 361-1333 (FAX)
    Website: www.nfxgold.com