Dec 9 2010
Aultra Gold, Inc. (OTCBB:AGDI), operating internationally as Shamika2Gold, Inc., has entered into a definitive agreement with Shamika Resources to acquire 5 gold exploration permits in the Democratic Republic of the Congo for a total consideration consisting of 15 million shares of Aultra Gold, a $ 500,000 promissory note and a 2.5% net smelter return on exploration licenses PR-10190, PR- 10192, PR- 10185, PR- 8708 and PR- 3619 covering a total of 830 km2.
Robert Vivian, Chief Executive Officer of Shamika2Gold, Inc. and founder of Shamika Resources, Inc., stated, "These permits expand the company's exploration program with the addition of exploration permits in areas covered by major mining players in the Democratic Republic of Congo. Already, Shamika2Gold has two projects underway: The Poko project where we have 120 mining blocks controlled covering 103 km2 in the Kilo-Moto Greenstone Belt and active exploration licenses, and the Lubutu project where we have 72 mining blocks controlled covering 61 km2 in the Kibara Metallogenic Belt with exploitation permits. The development of projects in the DRC is a first step in our strategy to expand internationally through acquisitions into other parts of the world with attractive early stage gold production resources opportunities."
Source: Aultra Gold, Inc.