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
"Qosmos has launched L7Viewer, a network traffic analysis tool, so it analyzes all the traffic between the virtual machine and the data center and the virtual machine and the external world," stated Sebastien Synold, Product Line Manager at Qosmos, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"Coalfire is a cyber-risk, security and compliance assessment and advisory services firm. We do a lot of work with the cloud service provider community," explained Ryan McGowan, Vice President, Sales (West) at Coalfire Systems, Inc., in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for ...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
"We are a leader in the market space called network visibility solutions - it enables monitoring tools and Big Data analysis to access the data and be able to see the performance," explained Shay Morag, VP of Sales and Marketing at Niagara Networks, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at Cloud Expo, Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, provideed economic scenarios that describe how the rapid adoption of software-defined everything including cloud services, SDDC and open networking will change GDP, industry growth, productivity and jobs. This session also included a drill down for several industries such as finance, social media, cloud service providers and pharmaceuticals.
"We analyze the video streaming experience. We are gathering the user behavior in real time from the user devices and we analyze how users experience the video streaming," explained Eric Kim, Founder and CEO at Streamlyzer, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...