Golden Share Resources options Band-Ore property to Delta Resources, Ontario

Golden Share Resources Corp. [TSXV-GSH] has entered into an option agreement with Delta Resources Ltd. [TSXV-DLTA; OTCBB-DTARF; FSDE-6G01] in which the company has granted an option to Delta to earn a 100% interest in the Band-Ore property. The property is located west of Thunder Bay, Ontario, and hosts two historic high-grade gold resources (the resources of which are not considered NI 43-101-compliant, nor is the company treating them as such).

Historical resources stand at 706,000 tonnes of 6.86 g/t gold in the Band-Ore Main Zone and 616,000 tonnes of 4.84 g/t gold in the Band-Ore No.4 Zone.

The 10-kilometre-long property covers approximately 2,115 hectares and comprises 16 patented mining claims, one mining claim lease and 109 staked mining claims in Hagey and Conacher townships of Ontario, on strike with the Delta-1 gold mineralization. Both the Main zone and the No. 4 zone are open at depth and along strike.

Wes Roberts, CEO of Golden Share, commented: “We are very pleased to have Andre Tessier, an experienced exploration specialist, and the geological team at Delta take charge of the Band-Ore exploration program. In addition, we welcome Delta’s efforts to consolidate the Shebandowan greenstone belt and obvious synergies it will generate for our collective stakeholders.”

In order to acquire a 100% interest in the property, the company is required to make aggregate cash and security payments to Golden Share in the amount of $2-million, as below: On signing: $100,000 in cash; Anniversary 1: $150,000 in cash and $100,000 in Delta shares; Anniversary 2: $150,000 in cash and $100,000 in Delta shares; Anniversary 3: $200,000 in cash and $100,000 in Delta shares; Anniversary 4: $300,000 in cash and $200,000 in Delta shares; Anniversary 5: $400,000 in cash and $200,000 in Delta shares.

Golden Share will retain a 2% net smelter return royalty (NSR). Delta will have the option to buy back a 1% NSR at anytime for $3 million, and will have a right of first refusal on the second 1% NSR.

If Delta defines a NI 43-101 mineral resource on the property after earn-in, Golden Share will be entitled to a bonus of $500,000 for an estimate of 500,000 gold ounces contained up to one million ounces, and a bonus of $1 million for an estimate of greater than one million contained gold ounces. There are no work commitments on the property. The agreement is subject to regulatory approval.