July 29, 2013 - Durango Resources Inc. (the "Company") announces that it has entered into an agreement to sell its 100 per cent interest in the Strike 101-114 claims in Canada's Yukon Territory to Goldstrike Resources Ltd. (Goldstrike). The Strike claims are contiguous to Goldstrike's Lucky Strike Property, located approximately 15km east of Kinross's Golden Saddle deposit.
Under the agreement with Goldstrike, Durango has agreed to sell 14 claims for $5,000 cash and the issuance of 175,000 common shares of Goldstrike subject to TSX Venture Exchange approval.
Durango's President Marcy Kiesman stated, "Durango is continuing to review its asset portfolio in an effort to focus on the most viable projects to increase shareholder value. I believe the Strike 101-114 claims will be a good fit for Goldstrike and I wish them every success on their summer work program."
Durango is a natural resources company engaged in the acquisition and exploration of mining/exploration properties, mainly for gold and other precious metals. The Company has a 100% undivided interest in the McGillivray and KO Properties in British Columbia, the Sol Riche and Tresor Nord/Sud REE properties in Montviel Township in Quebec, the Trove and Descouverte gold properties in the Abitibi of Quebec, the Montpellier and St. Sixte graphite properties in the Grenville region of Quebec, and the Stubble gold property in Saskatchewan.
For further information on Durango, please refer to www.sedar.com.
Marcy Kiesman, Chief Executive Officer
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to Durango Resources Inc., please refer to the Company's Prospectus filed with SEDAR.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2013 TheNewswire - All rights reserved.