Vancouver, British Columbia--(Newsfile Corp. - September 12, 2017) - Carlin Gold Corporation (TSXV: CGD) (the "Company") announces it has today granted an aggregate of 2,550,000 incentive stock options to directors and an employee of the Company, entitling the grantees to purchase up to an aggregate of 2,550,000 common shares of the Company at an exercise price of $0.08 per share for a period of five years, subject to regulatory approval.
Carlin owns 100% of three properties in northern Nevada, the Cortez Summit Property, the JDS property and the Willow property, all of which represent Carlin-type gold targets.
The Cortez Summit property is under option to Barrick Gold Corp., which has the right to earn a 70% interest in the property by making expenditures totaling US$5 million by December 31, 2020, with Carlin retaining a 2% NSR. Cortez Summit is located within 1 kilometer of Barrick's 11.5 million ounce Goldrush resource, of which 9.6 million oz grading 9.6 grams per tonne (gpt) are reported to be in the measured and indicated category (Barrick 2016 Q4 Report). The 142 claim Cortez Summit property is surrounded by Barrick claims on all sides and on the west boundary adjoins the Fourmile exploration target area described by Barrick in its February 22, 2016 News Release. Barrick's Cortez Hills operation (11 million oz. gold pre-production reserve/resource) lies 4 miles (6.4 km) west of the property.
The JDS property consists of 77 100% owned unpatented claims located in Eureka County, approximately 13 miles southeast of Cortez Summit. The Willow property consists of 89 100% owned unpatented claims located in northeast Nevada, northwest of the Long Canyon gold discovery in the Pequop Mountains, owned by Newmont Mining Corporation.
The Company also controls, in a 50-50 joint venture with Constantine Metal Resources, Ltd., over six hundred square kilometers of claims covering precious metal and base metal targets in the Selwyn Basin, Yukon.
"K. Wayne Livingstone"
K. Wayne Livingstone,
President and Chief Executive Officer
Telephone: (604) 638-1402
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