Mr. Scott Berdahl reports
SNOWLINE GOLD ANNOUNCES ON-MARKET TRANSACTION BY B2GOLD INCREASING OWNERSHIP STAKE TO 9.9%
B2Gold Corp. has increased its ownership stake in Snowline Gold Corp. to 9.9 per cent by way of an on-market transaction. B2Gold has also agreed to vote its common shares in accordance with Snowline board's recommendations. Snowline has agreed to grant B2Gold an increase in its right to maintain its pro rata ownership of up to 9.9 per cent (formerly up to 5 per cent) in connection with future equity financings.
About Snowline Gold Corp.
Snowline Gold is a Yukon-focused gold exploration company with a project portfolio covering more than 280,000 hectares. The company's flagship, district-scale Rogue project hosts the Valley discovery, a bulk-tonnage, reduced-intrusion-related gold system (RIRGS), with geological similarities to multimillion-ounce deposits currently in production such as Kinross's Fort Knox mine in Alaska and Victoria Gold's Eagle mine in the Yukon. Early drill results demonstrate unusually high gold grades for such a system, present near-surface across drill intersections of hundreds of metres. In addition to Valley, the company's first-mover land position, extensive exploration database and active operations provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
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