Ms. Karen Mate reports
GETCHELL GOLD CORP. ANNOUNCES BOB BASS, CHAIRMAN, INCREASES HOLDINGS
Bob Bass, chairman Getchell Gold Corp., has exercised 500,000 warrants and continues to increase his holdings in the company.
Mr. Bass stated: "Through exercising an additional 500,000 warrants and a series of share purchases in the open market, I continue to demonstrate my support for the company and confidence in the value and growth potential of the Fondaway Canyon gold project. We are working towards a strong year and look forward to the resumption of drilling designed to expand the already sizable mineral resource."
Mr. Bass, of Ontario, Canada, through Bass Research Services Ltd., exercised 500,000 warrants for proceeds of $50,000 to the company. This year to date, Mr. Bass has increased his holdings by 2.2 million shares from the exercise of warrants and the acquisition of securities in the open market.
Considering the foregoing acquisitions, Mr. Bass currently owns and/or has control over an aggregate of 12,882,669 common shares, representing approximately 9.15 per cent of the issued and outstanding shares of the company on an undiluted basis. Accounting for the remaining convertible securities held or controlled by Mr. Bass, his aggregate ownership increases to 16.38 per cent of the company on a partially diluted basis.
About Getchell Gold Corp.
The company is a Nevada-focused gold and copper exploration company trading on the Canadian Securities Exchange under the symbol GTCH, the OTCQB under the symbol GGLDF and Frankfurt Stock Exchange under the symbol GGA1. Getchell Gold is primarily directing its efforts on its most advanced-stage asset, Fondaway Canyon, a past gold producer with a large mineral resource estimate and a recently published robust preliminary economic assessment. Complementing Getchell's asset portfolio is Dixie Comstock, a past gold producer with a historic resource.
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