TORONTO, ONTARIO, Feb. 10, 2011 (Marketwire) --
Crown Gold Corporation ("Crown") (TSX VENTURE:CWM) is pleased to announce that it has entered into an investor relations agreement (the "Agreement") with Investor Cubed Inc. ("Investor Cubed") to provide investor relations and shareholder communications services to Crown effective February 10, 2011.
Investor Cubed will assist Crown in working with members of the financial community, potential investors and current shareholders to keep them informed and up-to-date on Crown's activities.
The Agreement will be for a term of one year which may be terminated after 3 months by either party. In consideration for the services of Investor Cubed, Crown will pay a fee of $5,000 per month. Crown will also grant Investor Cubed options to purchase 300,000 shares of Crown at $0.15 and options to purchase 300,000 shares of Crown at $0.25 for a period of 2 years with 1/4 of the options vesting immediately and 1/4 of the options vesting every 3 months thereafter.
Investor Cubed is an investor relations company owned by Neil Simon and Alan Huycke, both of Toronto, Ontario. Investor Cubed is not related to Crown and does not have any direct or indirect interest in Crown or its securities, other than the stock options as described below. All matters reported herein are subject to TSX Venture Exchange ("TSXV") approval.
Crown also announces that it has, pursuant to its stock option plan, granted options to purchase an additional 200,000 Crown shares at prices between $0.15 and $0.25 to a consultant for a 2-year term with 100,000 of the options vesting immediately and 100,000 of the options vesting 3 months thereafter.
Crown, formed by the recent amalgamation of Crown Minerals and Gold Summit, is exploring for high grade gold and silver deposits in Nevada and Ontario. In Nevada, Crown has NI 43-101 compliant inferred resources totaling approximately 337,000 ounces of gold at its Monte Cristo and Sugarloaf properties. These are the most advanced of five, high-grade, epithermal vein systems controlled by Crown. The existing resources at Monte Cristo and Sugarloaf remain open along strike and at depth. Planning for further exploration and underground or open-pit development is underway. The three other Nevada properties, Blue Sphinx, Gold Springs and Black Warrior, all contain well-defined, essentially undrilled targets.
In Ontario, Crown has reported encouraging assay results from drilling on its McKenzie Island property at Red Lake. Crown is planning a new drill program on the McKenzie Island project to begin in the next few days. Other northwest Ontario properties are Tabour Lake near Kenora and Surprise Lake in the Uchi Belt, east of Red Lake. In northeastern Ontario, Crown holds strategic land positions adjacent to Trelawney's Chester discovery near Gogama, at the old Stairs Mine near Matachewan and in the Timmins camp.
Information in this news release, including but not limited to Crown's ongoing relationship with Investor Cubed and the consultant noted above, constitutes forward-looking information. Statements containing forward-looking information express, as at the date of this news release, Crown's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to Crown. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Crown Gold Corporation
President and CEO
Crown Gold Corporation