SHAREHOLDERS GOLD PURCHASE PROGRAM
Gold Bullion intends to implement the Shareholder Gold Royalty if and when the Granada Gold Mine enters into production. The Shareholder Gold Royalty will be for the life of the Granada Gold Mine for all current resources, and for other resources that may be discovered through further exploration. Gold Bullion cannot guarantee that the Granada Gold Mine will enter into production or that the proposed Shareholder Gold Royalty will be implemented. The proposed Shareholder Gold Royalty replaces the Shareholder Gold Purchase Program outlined in Gold Bullion’s news release dated June 4th, 2008, and is part of Gold Bullion’s forward-looking policy of ensuring shareholder value. Gold Bullion will inform shareholders of the details of the Shareholder Gold Royalty as the program is developed.
The Company will file a formal application with the TSX Venture Exchange before going ahead with the gold program. The Company will make available the amount of ounces and costs to the shareholders at such time as an updated 43-101 report is completed.
On June 4, 2008 the Company announced confirmation was received from the TSX Venture Exchange that they will not object to the gold program if it is within certain conditions. These conditions are reported above.
On April 11, 2012, the Company provided an update with respect to its proposed Shareholder Gold Royalty Program, as reported above.
On February 15, 2013, the Company provided the following update with respect to its proposed Shareholder Gold Royalty Program.
This year the Company intends to file a formal application with the TSX Venture Exchange with the objective of going ahead with the gold program. The Company anticipates that this will occur during 2013. The Company is preparing plans for the Granada Gold Mine to enter into production. The Company will make available the amount of ounces and costs to the shareholders based upon the Pre-Feasibility Study expected later this year.