The amending agreement (the 'Amendment') provides Pacific Bay additional time to complete the required first anniversary cash payment and work commitment, as outlined below.
Under the Amendment, the
Pacific Bay is very bullish about the Atlin Goldfields project and we appreciate the flexibility provided by Brixton to advance this exciting gold camp,' said
Contact:
Tel: 604-682-2421
Email: reagan@pacificbayminerals.com
This news release contains 'forward looking statements' within the meaning of Canadian securities legislation. Forward looking statements include, but are not limited to, statements with respect to the timing for payment of the option payments, timing regarding any future financings of the Company and timing for completion of future expenditures and plans relating to exploration of the Property, the magnitude and quality of the Property and spending commitments. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Pacific Bay will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward looking statements include, amongst others, the global economic climate, dilution, share price volatility and competition, results of exploration activities and development of the Atlin Goldfields Property, risks associated with the Agreement, including that the Agreement may be terminated or the option not exercised, risks relating to regulatory approvals, and the ability of the Company to complete a private placement financing. Although Pacific Bay has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. Pacific Bay does not undertake to update any forward looking statements, except in accordance with applicable securities laws.
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