Gold Continues Strong Start For 2016 Leading to Industry's Best Month In Nearly 20 Years - Mining Company Closes Acquisition

Mar 03, 2016, 08:30 ET from FN Media Group LLC

CORAL SPRINGS, Florida, March 3, 2016 /PRNewswire/ --

The gold sector has lived up to expectations thus far in 2016 fueled by joint ventures, mergers, debt reductions  and overall strong performance on the market.  Mining companies with recent developments of interest in the gold sector / precious metals market are NuLegacy Gold Corporation (OTCQX: NULGF), Barrick Gold Corp. (NYSE: ABX), Freeport-McMoRan Inc. (NYSE: FCX), Kinross Gold Corporation (NYSE: KGC) (TSX: K) & Gold Standard Ventures Corp. (NYSE: GSV) (TSXV: GSV)

NuLegacy Gold Corporation (TSXV: NUG.V) (OTCQX: NULGF) reports that it has closed the previously announced transaction with Barrick Gold Corporation ("Barrick") whereby NuLegacy has acquired Barrick's 30% working interest in the Redhill property (the "Property") in Nevada hosting the Iceberg gold deposit.  - Barrick Becomes NuLegacy's Largest Shareholder at 16.7%

Read the full NuLegacy Gold Corp (NULGF) (NUG.V) Press Release at http://www.financialnewsmedia.com/profiles/nulgf.html

In exchange, NuLegacy has issued 32 million shares (the "NUG Shares") to Barrick and granted a 2% net profits interest royalty from commercial production on the Property. Barrick now has the right to nominate one director to NuLegacy's board and to participate pro rata in all future issuances of shares or convertible securities. Barrick has provided NuLegacy with certain stand still and voting restrictions in favour of NuLegacy in respect of their shares for a period of two years, subject to certain conditions. NuLegacy now owns 100% of the Property, subject to the underlying royalties.  The Iceberg gold deposit, located in the Cortez gold trend of Nevada, is adjacent  to three of Barrick`s multi-million ounce Carlin-type gold deposits that are its lowest cost and politically safest gold assets , and has an established exploration target of 90-110 million tonnes of 0.9 to 1.1 grams of gold per tonne

In other mining news and developments:  Shares of Barrick Gold Corp. (NYSE: ABX) increased by 1.66% to $13.49 on yesterday morning, as gold prices trade in the green. For April delivery, gold is up by 0.74% to $1,239.90 per ounce on the COMEX this morning. The price of the precious metal is advancing today as global equities moved lower after oil prices declined, Reuters reports.  SOURCE:  TheStreet.com

Freeport-McMoRan Inc. (NYSE: FCX) announced recently that it has entered into a definitive agreement to sell a 13 percent ownership interest in its Morenci unincorporated joint venture to Sumitomo Metal Mining Co., Ltd. (SMM) for $1.0 billion in cash. Richard C. Adkerson, FCX's President and Chief Executive Officer, said: "We are pleased to expand our partnership at Morenci with Sumitomo. This transaction represents an important initial step toward our objective to accelerate debt reduction and restore our balance sheet, while retaining a portfolio of high quality assets and resources."

Kinross Gold Corporation (NYSE: KGC) (TSX: K) announced recently that it has entered into an agreement with a syndicate of underwriters led by TD Securities Inc. and Scotiabank for a bought deal public equity offering of 83,400,000 common shares of Kinross at a price of US$3.00 per common share for gross proceeds of approximately US$250 million. The Company has granted the underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the offering, to purchase up to an additional 15% of the offering to cover over-allotments, if any. The offering is expected to close on or about March 4, 2016 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange, the New York Stock Exchange and the securities regulatory authorities.

Gold Standard Ventures Corp. (NYSE: GSV) (TSXV: GSV) recently reported that it has closed its previously announced private placement financing (the "Financing") with a wholly owned subsidiary of OceanaGold Corporation (TSX: OGC) ("OceanaGold") for 13,831,931 common shares of Gold Standard (the "Purchased Shares") at a price of C$1.00 per share for gross proceeds of C$13,831,931. OceanaGold now owns approximately 19.9% of the Company's issued and outstanding shares on an undiluted basis.

FinancialNewsMedia.com is leading provider of third party publishing & news dissemination services.  If you would like more information regarding our news coverage solutions, please visit financialnewsmedia.com for more details.  Get an edge on the market with our Premium News Alerts that are FREE for a limited time at financialnewsmedia.com.  Follow us on Facebook: facebook.com/financialnewsmedia and Twitter: twitter.com/FNMgroup. 

DISCLAIMER:  FN Media Group LLC (FNMG) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNMG is NOT affiliated in any manner with any company mentioned herein.  FNMG and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNMG is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNMG has been compensated one thousand nine hundred dollars for news coverage of the current press release issued by NuLegacy Gold Corporation by the company.  FNMG HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.

Contact Information: Company:  FN Media Group, LLC Contact email: editor@financialnewsmedia.com U.S. Phone: +1-954-345-0611 URL: http://www.financialnewsmedia.com

SOURCE FN Media Group LLC