Newstrike secures more land at Guerrero
NEWSTRIKE CAPITAL TO ACQUIRE GOLDCORP’S
‘ANA PAULA’ PROPERTIES IN GUERRERO, MEXICO
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR DISSEMINATION IN THE UNITED STATES
Vancouver, B.C., March 3rd, 2010 – Newstrike Capital Inc. (“Newstrike” or the
“Company”) – www.newstrikecapital.com – is pleased to announce it has entered into an
agreement dated February 11th, 2010 to acquire a 100% interest in certain mining
concessions situated in Guerrero State, Mexico, referred to as the “Ana Paula
Properties” from Desarrollos Mineros San Luis, S.A. de C.V. (“DMSL”), a wholly-owned
subsidiary company of Goldcorp Inc. (TSX:G, NYSE:GG).
As consideration for the Ana Paula Properties, Newstrike will pay to DMSL the amount
of CAD$1.5 million in cash and a number of common shares in Newstrike that is equal to
CAD$600,000, such shares to be issued at a price that is based on the volume weighted
average trading price of the shares of Newstrike on the TSX Venture Exchange for the
20 consecutive trading days ending on the trading date prior to the issue date.
Located within the Guerrero Gold Belt, the Ana Paula Properties consist of four claims
that in total aggregate 7,622 hectares (ha). The most advanced of these claims has
been subject to 3,689 metres of drilling by Goldcorp.
Richard Whittall, President & CEO of Newstrike, commented: “We are pleased to
extend our strategic footprint within the Guerrero Gold Belt. The acquisition of Ana Paula
certainly complements our 81,000 hectares of highly prospective mineral claims in the
immediate area. Our management team is very familiar with Ana Paula’s geological
setting and we look forward to advancing the work conducted by Goldcorp to date.”
Closing of the transaction is expected in April 2010 and is subject to receipt of all
required shareholder, regulatory and third party consents, satisfaction of customary
closing conditions.
About Newstrike (TSX-V: NES)
Newstrike Capital Inc. is a gold-silver focused explorer, targeting known and historic
mining districts in Mexico. Current management and directors co-discovered Goldcorp’s
and Teck’s significant discoveries in Guerrero Gold Belt in Guerrero State, currently in
advanced stages of exploration and production.
Newstrike holds a 100% interest in certain exploration properties in Mexico located
within two established mining districts; the gold bearing oxidized iron skarn-porphyry
camp of the Guerrero Gold Belt, and the polymetallic Ag-Au-Cu rich epithermal camp of
the mining districts of Oaxaca State.
For further information, please contact:
Newstrike Capital Inc.
Richard Whittall
Director, President & CEO
Phone: 604-605-4654
website: www.newstrikecapital.com
blogsite: http://newstrikecapital.com/blog
