Canamex Completes Ownership Of Bruner Gold Project

 

VANCOUVER, BC - Canamex Resources Corp. and Patriot Gold Corp. have closed the transaction whereby Canamex Resources has purchased Patriot Gold's 30-per-cent working interest in the Bruner gold/silver mine, located in Nye County, Nevada for US$1.0 million cash. Patriot retains a two percent net smelter return royalty on the Bruner properties including any claims acquired within a two-mile area of interest around the existing claims.  Additionally, Canamex has the option to buy-down half of the NSR royalty retained by Patriot for US$5 million any time during a five-year period following closing of the purchase and sale agreement.

Canamex’s chief executive officer, Mark Billings, commented: "This acquisition consolidates our 100-per-cent ownership stake in the greater Bruner property and offers greater leverage to the exploration upside on the property and an increase in the price of gold."