Tonogold Resources, Inc. Sells Lease Interest in Nyac, Alaska Gold Projectadmin
Tonogold Resources, Inc. announces the sale of its Alaska assets and leasehold interest in the Nyac, Alaska Gold Project to Nyac Gold LLC.
The terms of the sale include cash and future consulting fees valued at approximately $563,420. Also, Tonogold has a retained a one-half percent net smelter royalty.
The Nyac Gold Project consists of 57,600 acres leased from Calista Corporation. Tonogold conducted exploration programs at Nyac in 2005 and 2006.
The lease assignment is subject to the approval of Calista Corporation.
Tonogold Resources, Inc. is a minerals exploration company based in La Jolla, California. The company also has a project office in Carson City, Nevada. For more information on the Company visit their website http://www.tonogold.com.