Mr. Anthony Zelen reports
RUSH GOLD CORP. OPTIONS LEGAL TENDER, AU-AG NEVADA PROPERTY
Rush Gold Corp. has entered into an option agreement with Silver Range Resources Ltd. to acquire a 100-per-cent interest in the Legal Tender property, a historic silver-gold project located 62 kilometres northwest of Tonopah, Nev.
"The Legal Tender property provides Rush Gold with additional exploration ground in proximity to our Skylight project," says Anthony Zelen, chief executive officer of Rush Gold. "We look forward to advancing work on this historic property as part of our district-scale strategy in Nevada."
The Legal Tender property lies approximately three km north of Rush Gold's Skylight project and covers most of the Republic mining district, a silver-gold epithermal camp that saw limited production in the early 1900s. Historic workings include the Farris, Hyland and Black Butte mines, along with several exploration shafts and adits.
Silver and gold mineralization has been reported in vein faults, veins and breccia bodies along two principal structural trends. Historic sampling by Silver Range has returned assays including 1,875 grams per tonne Ag and 4.94 g/t Au. These results are from selective grab samples and are not necessarily representative of mineralization across the property.
Under the option agreement, Rush Gold may acquire a 100-per-cent interest by making escalating cash payments totalling $200,000 (U.S.) and completing 1,000 metres of drilling over four years. Silver Range will retain a 2.5-per-cent NSR (net smelter return) royalty, which may be reduced to 1.0 per cent through buyback, and will be entitled to a defined resource payment of $4 (U.S.) per ounce of gold (or gold equivalent) on any measured and indicated resources delineated on the property.
Qualified person
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, PGeo (British Columbia), principal and consultant of APEX Geoscience Ltd. of Edmonton, Alta., who is a director of Rush Gold and a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Raffle has verified the data, which included a review of the sampling, analytical and test methods underlying the data, information and opinions disclosed herein.
About Rush Gold Corp.
Rush Gold is an American-focused exploration company advancing its properties located in the Republic mining district, Nye county, Nevada. The company is listed on the Canadian Securities Exchange under the symbol RGN and in Frankfurt under the symbol B6H.
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