King Global Acquires Property Group in Newfoundland’s Gander Gold Belt Region

King Global Ventures Inc. [TSXV: KING, OTC: KGLDF, FSE: 5LM1] reported it has signed a definitive agreement to acquire the Chapel Island property located in central Newfoundland. The addition of the Chapel Island property brings King’s total land holding in central Newfoundland to 4,144 ha. King’s land holdings located in one of the most active gold exploration jurisdictions in North America, the Gander Gold Belt Region of Newfoundland, Canada.

The Chapel Island Prospect consists of 54 mining claim blocks located in northeast-central Newfoundland, on Chapel Island, within the Dunnage Tectonostratigraphic Zone of the Appalachian Orogen.

The Road Zone consists of four historical showings containing numerous Au occurrences. These occurrences have returned individual assay results up to 85 g/t Au and 32 g/t Au and 27 g/t Au. Chapel Island Nickel showings grab samples assayed up to 3.05% Ni.

The Lost Swamp showing is composed of a silicified and carbonate altered Coaker porphyry that contains very, fine grained arsenopyrite, with assay results returning values up to 149.8 g/t Au and 23.3 g/t Ag. At the Swamp Zone, a total of 35 channels were cut for a combined length of 35.9 m at 8 different locations in the old trench. The best results from the sampling were 5.2 m of 484 ppb Au and 0.9 m of 3.9 g/t Au.

John Cook, Chief Executive Officer of King Global Ventures, stated: “We are pleased to add the Chapel Island Prospect to our current portfolio of prospective gold properties in central Newfoundland. The addition of this highly prospective property group within proven gold bearing Dunnage Corridor has us quite excited about the potential for further discoveries within this zone.”