GreenOre Gold plc
(“GreenOre” or the “Company” or the “Group”)
Joint Venture agreement on Scottish acreage
GreenOre Gold plc is pleased to announce that it has signed an agreement with Koza Limited, a subsidiary of Koza Altın İsletmeleri A.Ş., regarding gold and silver exploration activities on GreenOre Gold plc’s acreage in Aberdeenshire, Scotland.
Exploration activities will be funded and executed in accordance with the agreement. Koza, which will operate and/or develop the project, will have the right to own 60% of shares of the JV company, based on certain expenditure criteria. Koza will have the option to increase its ownership rights up to 80% based on further committed funding
under the agreement.
Managing Director, Gavin Berkenhager, commented “GreenOre Gold is delighted to partner with Koza, a major gold producer. This further supports our belief in the potential for major gold deposits in Scotland. Our main prospect is on the Dalradian trend, which stretches from Northern Ireland up through Scotland. A 3.5 million ounce gold deposit is currently being developed by Dalradian Gold in Northern Ireland. We hope to repeat this success.”
Greenore Gold PLC www.greenoregold.com
Gavin Berkenheger, Managing Director +44 7841 455 632
Colm O’Reilly, Director +353 87 206 2896
The Directors of the issuer accept responsibility for this announcement.