December 15th, 2015

MiningNewsBreaks – Bullfrog Gold Corp. (CSE: BFG) (OTCQB: BFGC) (FSE: 11B) Announces Strategic Transaction, New Cornerstone Shareholders

Bullfrog Gold Corp. (CSE: BFG) (OTCQB: BFGC) (FSE: 11B), on Tuesday announced its entry into a binding term sheet to acquire rights to 1,500 acres adjoining the company’s Bullfrog Gold Deposit from Barrick Gold Corporation (TSX: ABX) (NYSE: GOLD) and a C$22 million financing to be completed by Augusta Investments Inc. Among the highlights of the transaction, Barrick and Augusta will become new cornerstone shareholders, with Barrick to own 15.9% and Augusta to own 31.9% of Bullfrog’s shares outstanding after closing, calculated on an undiluted basis. “This is potentially another value-creating transaction which, once completed will consolidate assets to create an exciting new mining project, led by a skilled team and with strong financial backing,” Barrick president and CEO, Mark Bristow, said in the news release. “It is also in line with Barrick’s strategy of bringing non-core assets to account.”

To view the full press release, visit http://ibn.fm/yDJEg

About Bullfrog Gold Corp.

Bullfrog Gold is a Delaware corporation that currently controls the commanding land and resource positions in the Bullfrog Mine area where Barrick produced 2.3 million ounces of gold by mining and conventional milling beginning in 1989 and ending in 1999 when ore reserves were depleted. Measured and indicated 43-101 compliant resources were estimated in mid-2017 by Tetra Tech Inc. at 525,000 ounces of gold, averaging 1.02 gold g/t in base case plans of the MS and Bullfrog pits. Most of these resources are in the north extension to the Bullfrog pit. Inferred resources were estimated at 110,000 ounces of gold averaging 1.2 g/t, of which most were in the Mystery Hill area adjacent to the Bullfrog pit and where 17 additional holes were recently drilled. It is noted that the 3-year trailing average gold price is now $200 higher than the $1,200 average price used in 2017. The resource estimates were also based on a heap leach gold recovery of 72% compared to the average 85% leach test recoveries recently achieved on four bulk samples. Additional technical and corporate information may be sourced at www.BullfrogGold.com.

NOTE TO INVESTORS: The latest news and updates relating to BFGC are available in the company’s newsroom at http://ibn.fm/BFGC

About MiningNewsWire

MiningNewsWire (MNW) is a specialized communications platform focused on developments and opportunities in the global resources sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, MNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MNW brings its clients unparalleled visibility, recognition and brand awareness. MNW is where news, content and information converge.

To receive SMS text alerts from MiningNewsWire, text “BigHole” to 21000 (U.S. Mobile Phones Only)

For more information, please visit https://www.MiningNewsWire.com

Please see full terms of use and disclaimers on the MiningNewsWire website applicable to all content provided by MNW, wherever published or re-published: https://www.MiningNewsWire.com/Disclaimer

MiningNewsWire
Los Angeles, California
www.MiningNewsWire.com
310.299.1717 Office
Editor@MiningNewsWire.com

MiningNewsWire is part of the InvestorBrandNetwork.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.