StrataGold undergoes dilution on BRL Venture, Guyanaadmin
StrataGold Corporation announces that it participated in the previously approved 2008 Phase II exploration Program on the BRL Venture, a joint venture with Newmont Overseas Exploration Limited, a subsidiary of Newmont Mining Corporation. Since StrataGold did not fully contribute in order to maintain its 50% Participating Interest in the BRL Venture, StrataGold’s Participating Interest in the BRL Venture has been diluted from 50% to 35.73%. Newmont has elected to be the Manager of the BRL Venture.
StrataGold has elected not to participate in the proposed Program and Budget for the period of January-June 2009. In accordance with the terms of the BRL Venture Agreement dated September 27, 2005, such election shall result in the further dilution of StrataGold’s Participating Interest.