Friday, February 2, 2007 1:35 PM
Battle Mountain Gold Exploration Corp. (OTCBB:BMGX) (“Battle Mountain”) is pleased to announce that it has retained National Bank Financial Inc. as its Sponsor in support of the Company’s application to list its shares for trading on the Toronto Stock Exchange (“TSX”). Battle Mountain has chosen the TSX to list its shares for their worldwide preeminence in the gold and mining business. Of the world’s public mining companies, 60% are listed on the TSX.
In conjunction with the Company’s planned listing on the TSX, the company’s Board of Directors has approved a name change to “Battle Mountain Gold Royalty Corp.” to highlight the business of Battle Mountain.
In other company developments, Battle Mountain’s 3% NSR on the El Limon Mine and La India project in Nicaragua continues to expand. Glencairn Gold announced on January 29, 2007, a $2.5 million Exploration program on the Nicaraguan properties: “The program at Limon builds on a consultant’s recent evaluation of the structural setting of the Victoria area west of current Talavera workings. The study confirmed that gold mineralization continues through this structurally complex area and is open to the west. It also provides some key geological guides for targeting follow-up exploration holes.
As previously reported, drilling in the Victoria area in 2004 intersected 16.5 grams gold per tonne (g/t) over 36 metres of core length in Hole 3235 and 7.7 g/t gold over 15.8 metres in Hole 3211 (See Glencairn news releases of August 13 and September 24, 2004). Surrounding drill holes show these to be localized zones in an area of structural complexity.
“The Victoria area, with its high-grade gold intercepts, confirms that the western continuation of the Talavera Mine trend is an excellent exploration target. This is obviously very exciting for us,” said Michael Gareau, Glencairn’s Vice President Exploration. In the first quarter of 2007, Glencairn will begin to drill the projection of the prospective Talavera Mine trend to the west of the Victoria area.
This year’s exploration budget also includes evaluation of other targets in the Limon district, as well as underground drilling at Talavera for local extensions of known mineralization in the producing mine area. Drilling at Talavera is expected to start in February.”
Battle Mountain’s Chairman and Chief executive, Mark Kucher, stated, “We believe that the combined El Limon and La India royalties will continue to provide us with a significant cash-flowing asset into the future. In addition, we are continuing to negotiate other acquisitions of similar quality as we build Battle Mountain into a significant precious metals royalty company with a diversified asset base.”
About Battle Mountain
Battle Mountain is a gold royalty company headquartered in Reno, Nevada. Battle Mountain has a diversified portfolio of thirteen producing, developing, and exploration gold royalties in seven gold producing countries.
On behalf of the Board of Directors, Mark Kucher Chairman and CEO
To learn more please visit www.bmegold.com or email [email protected]
Battle Mountain Exploration Gold Corp. Sixth Floor, Suite 9 One East Liberty Street Reno, Nevada 89504
Safe Harbor for Forward-Looking Statements: This release contains certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation, expectations, beliefs, plans and objectives regarding the potential transactions and ventures discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, the availability of needed personnel and equipment for future exploration and development, fluctuations in the price of minerals, and general economic conditions.
CONTACT: Battle Mountain Exploration Gold Corp. Investor Information Mark Kucher, Chairman and CEO (800) 436-0167