Received by email:
File: ELT News 29-1-2014.pdf
January 29, 2015
TSX.V Symbol: ELT
MGX Minerals to Provide Technical Services at
Electra Gold Ltd's Apple Bay Alumina-Silica Quarry
VANCOUVER, BRITISH COLUMBIA � January 29, 2015 � Electra Gold Ltd. ("Electra"
or the "Company") (TSXv: ELT) is pleased to announce that it has reached its first
technical services agreement with MGX minerals ("MGX") (CSE: XMG) for engineering
work at the Apple Bay Alumina-Silica Quarry. The quarry is located near Port Hardy on
Vancouver Island and has been in operation since 2004. As part of the Company's
agreement with MGX signed December 1, 2014, MGX will provide technical support to
Electra. The objectives of the engineering work at Apple Bay include a planned increase
in production and optimization of grade. The scope of work by MGX Senior Engineer
includes:
- Compare current production to original mine plan
- Check previous geological mapping & drill data
- Representative sampling
- Review mine layout
- Recommend production plan and implementation
Work is planned for a one week period commencing February 20, 2015. The work is being
completed to increase efficiency, increase profitability, and grow production in an
anticipation of increased sales volumes to the cement industry. The quarry has year-
round operations and had sales of $1.2M in 2014.
Electra is also pleased to announce that it will change its name to "Electra Stone Ltd"
from "Electra Gold Ltd"; this change reflects Electra's current business operations and
focus towards revenue generating industrial mineral projects. The Company's shares will
trade on the TSX Venture Exchange under the new name at market open on Monday,
February 2, 2015. The trading symbol of the Company will remain as "ELT".
About Electra Gold
Electra is actively engaged in the exploration and development of industrial minerals. The
company is currently mining Chalky Geyserite on Northern Vancouver Island, British
Columbia; generating sustained revenues and in constant production since 2003. For
more information please visit the Company's website at www.electragoldltd.com
About MGX Minerals
MGX Minerals (CSE: XMG) is a diversified Canadian mining company engaged in the
acquisition and development of industrial mineral deposits in western Canada that offer
near-term production potential, minimal barriers to entry and low initial capital
expenditures. For more information please visit the Company's website at
www.mgxminerals.com
On behalf of the Board of Directors,
Electra Gold Ltd.
"John Costigan"
President and Director.
Tel: 604.681.1568
john@electrastone.com
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this news release.
Forward Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including,
but not limited to timing of mineral resource estimates, future exploration or project development programs
and the impact on the Company of these events. Forward information is subject to significant risks and
uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is
provided as of the date hereof and we assume no responsibility to update, or revise them to reflect new
events or circumstances. For a detailed list of risks and uncertainties as it relates to Electra Gold Ltd.,
please refer to the Company's Annual Financials filed with SEDAR.
1450-789 West Pender Street, Vancouver, B.C. V6C 1H2
Phone: 604-681-1568 Fax: 604-681-8240 E-mail john@electrastone.com
File: ELT News 29-1-2014.docx
/
January 29, 2015
TSX.V Symbol: ELT
MGX Minerals to Provide Technical Services at
Electra Gold Ltd's Apple Bay Alumina-Silica Quarry
VANCOUVER, BRITISH COLUMBIA - January 29, 2015 - Electra Gold Ltd. ("Electra" or the "Company") (TSXv: ELT) is please
--->d to announce that it has reached its first technical services agreement with MGX minerals ("MGX") (CSE: XMG) for engi
--->neering work at the Apple Bay Alumina-Silica Quarry. The quarry is located near Port Hardy on Vancouver Island and ha
--->s been in operation since 2004. As part of the Company's agreement with MGX signed December 1, 2014, MGX will provide
---> technical support to Electra. The objectives of the engineering work at Apple Bay include a planned increase in prod
--->uction and optimization of grade. The scope of work by MGX Senior Engineer includes:
- Compare current production to original mine plan
- Check previous geological mapping & drill data
- Representative sampling
- Review mine layout
- Recommend production plan and implementation
Work is planned for a one week period commencing February 20, 2015. The work is being completed to increase efficienc
--->y, increase profitability, and grow production in an anticipation of increased sales volumes to the cement industry.
--->The quarry has year-round operations and had sales of $1.2M in 2014.
Electra is also pleased to announce that it will change its name to "Electra Stone Ltd" from "Electra Gold Ltd"; this
--->change reflects Electra's current business operations and focus towards revenue generating industrial mineral projects
--->. The Company's shares will trade on the TSX Venture Exchange under the new name at market open on Monday, February 2,
---> 2015. The trading symbol of the Company will remain as "ELT".
About Electra Gold
Electra is actively engaged in the exploration and development of industrial minerals. The company is currently mining
---> Chalky Geyserite on Northern Vancouver Island, British Columbia; generating sustained revenues and in constant produc
--->tion since 2003. For more information please visit the Company's website at www.electragoldltd.com
About MGX Minerals
MGX Minerals (CSE: XMG) is a diversified Canadian mining company engaged in the acquisition and development of industr
--->ial mineral deposits in western Canada that offer near-term production potential, minimal barriers to entry and low in
--->itial capital expenditures. For more information please visit the Company's website at www.mgxminerals.com
On behalf of the Board of Directors,
Electra Gold Ltd.
"John Costigan"
President and Director.
Tel: 604.681.1568
john@electrastone.com
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the
---> TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not li
--->mited to timing of mineral resource estimates, future exploration or project development programs and the impact on th
--->e Company of these events. Forward information is subject to significant risks and uncertainties, as actual results m
--->ay differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we as
--->sume no responsibility to update, or revise them to reflect new events or circumstances. For a detailed list of risks
---> and uncertainties as it relates to Electra Gold Ltd., please refer to the Company's Annual Financials filed with SEDA
--->R.
1450-789 West Pender Street, Vancouver, B.C. V6C 1H2
Phone: 604-681-1568 Fax: 604-681-8240 E-mail john@electrastone.com
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