Ventura Update on Property Agreement at Inmaculada Gold-Silver Project, Peru
Ventura Gold Corp. announces that the Hochschild Mining PLC, back-in right to acquire an additional 11% interest (for an aggregate 60% interest) in the Inmaculada gold-silver project in Southern Peru, has expired unexercised.
Ventura continues as operator of Inmaculada, with the right to a controlling interest, having completed all exploration requirements to earn its initial 51% joint venture interest in Inmaculada, subject only to the issuance of an additional 400,000 common shares of the Company to Hochschild by February 2010.
Ventura is currently considering its one-time right, expiring after 20 business days, to elect to acquire an additional 19% interest (for an aggregate 70% interest) in Inmaculada by solely funding and completing a feasibility study by January 2013 at 100% cost to the Company.
