Welcome!

News Feed Item

Gold Standard Announces Sale of Non Core Assets and Changes to Its Management and Technical Team

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/30/14 -- Gold Standard Ventures Corp. (TSX VENTURE:GSV)(NYSE MKT:GSV)(NYSE Amex:GSV) ("Gold Standard" or the "Company") announced today that it has entered into a binding Letter of Intent to sell its entire portfolio of non-core early exploration assets consisting of Crescent Valley, East Camp Douglas and East Bailey projects to Tanqueray Exploration Ltd. (TSX VENTURE:TQY) for cash and shares. The sale follows a strategic decision by Gold Standard's Board of Directors to concentrate the Company's efforts on its wholly-owned advanced stage Railroad-Pinion Project on Nevada's Carlin Trend. Changes to the Company's technical team have also been made to reflect the shift in strategic direction.

Divestiture Highlights:


--  Gold Standard has agreed to sell all of its interests in the non-core
    assets to Tanqueray Exploration Ltd. for 60,000,000 shares of Tanqueray
    (representing approximately 88% of its shares outstanding after the
    sale) and $150,000 in cash, to close on or before August 15th, 2014.

--  The sale will reduce Gold Standard's annual land holding costs by
    approximately $400,000.

--  GSV will continue to have a significant participation in the potential
    for exploration success on the non-core properties as a major
    shareholder of Tanqueray.

As part of the divestiture, Gold Standard Ventures announces that, effective May 30th, co-founder, director and VP of Exploration Dave Mathewson will be stepping down as a director and officer of the Company to assume responsibility for the direction of Tanqueray as its VP Exploration and interim President and CEO upon closing of the transaction. Mr. Mathewson will remain a technical advisor to Gold Standard for a period of at least one year.

Gold Standard's President and CEO Jonathan Awde stated that "since the Pinion acquisition we have been assessing ways to unlock the value in our earlier stage exploration assets while also focusing on the Railroad-Pinion Project. We believe this divestiture is the best way to accomplish these two objectives. Dave Mathewson is a visionary Nevada geologist with a long history of early stage discoveries. He was absolutely instrumental in our discovery at North Bullion and vital to our efforts to consolidate the Railroad-Pinion district for the first time ever. Dave's first love in exploration has always been in identifying and advancing tier 1, district scale generative exploration opportunities and that's precisely what Crescent Valley, East Camp Douglas and East Bailey projects represent. This is a fitting transition given Gold Standard's new strategic direction as an advanced-stage explorer. I want to express our utmost appreciation to Dave for his unwavering commitment to the growth of the Company."

Gold Standard is pleased to announce that Senior Geologist, Mac Jackson, Jr., M.Sc. will become VP Exploration and will be joined by newly hired Chief Geologist John Norby, M.Sc.

Mac Jackson has over 17 years of experience as an exploration geologist, including 8 years with Newmont Mining Corporation. During his tenure with Newmont, Mr. Jackson was a significant contributor to the discovery of the West Leeville and Turf deposits, both of which are on the Carlin Trend, and the Fiber Line deposit at the Twin Creeks complex. Mr. Jackson has been with Gold Standard since July 26, 2011 and has been instrumental in expanding our understanding of the stratigraphy and structural geology and advancing new target opportunities on the Railroad-Pinion Project.

John Norby has over 35 years of experience as exploration, project and chief geologist. John has extensive Nevada experience including nearly 20 years spent designing and executing exploration and resource delineation programs for Barrick and Newmont mostly in the Carlin and Cortez trends. Mr. Norby managed a highly successful exploration program for Newmont in the Maggie Creek district within the Carlin Trend that successfully delineated significant additional resources at the Mike and Gold Quarry deposits. While at Placer Dome and Barrick, Mr. Norby identified and drilled new oxide mineralization at Pipeline and Getchell. John obtained his Master of Science, Geology, 1984, South Dakota School of Mines and Technology, Rapid City and Bachelor of Arts, Environmental Science, geology concentration, 1978, University of Virginia, Charlottesville.

CEO Jonathan Awde stated that"Mac and John, along with our Manager of projects, Steve Koehler represent a first class technical team with extensive Carlin experience. John provides the resource estimation and environmental expertise we now need for the next stage of our development while Mac and Steve bring invaluable, first hand knowledge of Railroad-Pinion geology and operational requirements. All the elements are in place for success going forward."

Completion of the transaction is subject to a number of conditions, including, but not limited to, the satisfaction of Gold Standard and of Tanqueray of certain due diligence investigations to be undertaken by each party,, closing conditions customary to transactions of the nature of the transaction and exchange acceptance. Where applicable, the transaction cannot close until the required shareholder approval is obtained by Tanqueray shareholders, and there can be no assurance that the transaction will be completed as proposed or at all.

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Steven R. Koehler, Gold Standard's Manager of Projects, BSc. Geology and CPG-10216, a Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

ABOUT GOLD STANDARD VENTURES - Gold Standard is an advanced stage gold exploration focused on district scale discoveries in Nevada. The Company's flagship project, the Railroad-Pinion Gold Project, is located within the prolific Carlin Trend. The recent Pinion gold deposit acquisition offers GSV a potential near-term development option and further consolidates the Company's premier land package in the Carlin Trend. Gold Standard is moving towards building NI 43-101 compliant gold resources at both the near surface, oxide-gold Pinion deposit and the classic Carlin style, North Bullion gold deposit in 2014.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the NYSE MKT accepts responsibility for the adequacy or accuracy of this news release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, included herein including, without limitation, statements about our proposed financing are forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Risk factors affecting the Company include, among others: the results from our exploration programs, global financial conditions and volatility of capital markets, uncertainty regarding the availability of additional capital, fluctuations in commodity prices; title matters; and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com) and with the SEC on EDGAR (available at www.sec.gov/edgar.shtml). These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

On behalf of the Board of Directors of Gold Standard,

Jonathan Awde, President and Director

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Security, data privacy, reliability, and regulatory compliance are critical factors when evaluating whether to move business applications from in-house, client-hosted environments to a cloud platform. Quality assurance plays a vital role in ensuring that the appropriate level of risk assessment, verification, and validation takes place to ensure business continuity during the migration to a new cloud platform.