Southern Gold Resources Ltd.

May 17, 2010 18:57 ET

Southern Gold Acquires Additional Shares in WestBond Enterprises Corporation

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 17, 2010) - Southern Gold Resources Ltd. ("Southern Gold") today announced that it has acquired beneficial ownership of an additional 51,500 common shares of WestBond Enterprises Corporation (TSX VENTURE:WBE) ("WestBond") at $0.11 per share (as to 1,500 shares) and $0.105 per share (as to 50,000 shares) through the facilities of the TSX Venture Exchange.

The acquisition of WestBond shares increases Southern Gold's beneficial ownership, direction or control to an aggregate of 1,135,500 common shares, representing approximately 10.3% of the outstanding WestBond voting shares. The shares were acquired by Southern Gold for investment purposes only. Southern Gold may acquire ownership of, or control or direction over additional securities of WestBond in the future.

Southern Gold was incorporated in British Columbia in 1981 and derives income from oil and gas production in Saskatchewan through its wholly-owned subsidiary, Loop Royalty Investments, and manages an active securities portfolio from its Vancouver offices.

A copy of the early warning report in respect to this acquisition has been filed with the applicable securities commissions and can be found at www.sedar.com.

Contact Information

  • Southern Gold Resources Ltd.
    Alan C. Savage
    604.687.2471