Ryan Gold Corporation
TSX VENTURE : RYG

Ryan Gold Corporation

June 04, 2013 07:00 ET

Ryan Gold Corp. Announces Exercise of Castillian Put Right

TORONTO, ONTARIO--(Marketwired - June 4, 2013) - Ryan Gold Corp. (TSX VENTURE:RYG) ("Ryan Gold" or the "Company") announces that it has exercised its put right (the "Put Right") pursuant to which it has transferred its 10% working interest (the "Interest") in the Hope Brook Gold property and associated properties, back to Castillian Resources Corp. ("Castillian") in exchange for 8,000,000 common shares of Castillian. Ryan Gold was originally granted the option to earn the Interest pursuant to an option agreement with Castillian dated October 23, 2012, as amended. Ryan Gold subsequently exercised the option and earned the Interest effective February 5, 2013.

Ryan Gold acquired ownership of the 8,000,000 common shares of Castillian effective June 3, 2013. Upon completion of the transaction described above, Ryan Gold owns and controls an aggregate of 8,000,000 common shares of Castillian, representing approximately 10.6% of the issued and outstanding common shares of Castillian immediately following the transaction described above. No joint actors of Ryan Gold hold any securities of Castillian as at June 3, 2013.

The 8,000,000 common shares of Castillian were acquired by Ryan Gold in a private transaction which did not take place through the facilities of any market for Castillian's securities. This transaction was effected for investment purposes and Ryan Gold and/or its joint actors could increase or decrease their investments in Castillian at any time, or continue to maintain their current investment position, depending on market conditions or any other relevant factor. The 8,000,000 common shares of Castillian were acquired by Ryan Gold for a deemed purchase price of Cdn$0.25 per share for aggregate consideration of $2,000,000, all pursuant to the exemption contained in Section 2.13 of National Instrument 45-106 on the basis that Castillian has issued the common shares in consideration of its acquisition of an interest in a mineral property.

Additional Information

A copy of the applicable securities report filed in connection with the matters set forth above may be obtained through Ryan Gold's offices by contacting:

Orest Zajcew

Ryan Gold Corp.

1 Adelaide Street East

Suite 2100

Toronto

Ontario

M5C 2V9

T: +1 416 482 9038

F: +1 416 924 7997

About Ryan Gold Corp.

Ryan Gold Corp. is an exploration company focussed primarily on gold exploration in the Yukon Territory, Canada. The Company is well funded and has a large land package of over 400,000 hectares comprised of over 60 different properties. The Company's flagship property is Ida Oro, which was drilled in 2011 and 2012. The Company also has a 10% interest in Carlisle Goldfields Limited's Farley Lake Project.

This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans and business trends. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any mineral that may be produced, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitability, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including any technical reports filed with respect to the Company's mineral properties. This press release is not, and is not to be construed as an offer to buy or sell securities in the United States.

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.

Contact Information

  • Ryan Gold Corp.
    David Schmidt
    Interim CEO
    (604) 639-3119