Gold Dragon Capital Management Ltd. exercises its right to purchase the remaining 31.12% of the interest in the Belencillo Property Concession.
PANAMA CITY, Feb. 14, 2013 /CNW/ - Gold Dragon Capital Managment Ltd.
announces it has exercised its rights per its Contract with Petaquilla
Minerals Ltd, PTQ - TSX, increasing its ownership to 100% of the
Palmilla Deposit. Recently PTQ through its subsidiary Petaquilla Gold,
S.A. sponsored and announced the completion of an NI 43-101 Technical
Report on the Palmilla Deposit estimating its inferred resources at
502,800 gold equivalent ounces. As per the Contract of May 7, 2005
between PTQ and Gold Dragon, PTQ will own 17 to 20% of Gold Dragon
stock once formal transfer of the Rio Belencillo (including the
Palmilla Deposit) and Rio Petaquilla Concessions to Gold Dragon is
completed. Mr. Rodrigo Esquivel, President of PTQ, stated, in a letter
to Gold Dragon dated November 23, 2012, regarding the Option Contract
signed between PTQ and Gold Dragon that PTQ will honor the terms of the
Contract (see news releases for PTQ of May 2005, Annual Reports and
Form 20F from 2006 to present, the MD&A release of September 13, 2006
and PTQ's latest corporate presentation). We seek safe harbor
SOURCE: Gold Dragon Capital Management Ltd.
For further information: Guillermo Cruz at +507-396-5535, Betania, Dos Mares, Pacific Hill, T-100, #20A, Panama City, Panama