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nlightn nlightn 17 years ago
Sonora Gold Corp. Closes Santa Gertrudis and Roca Roja Properties Sale
Thursday July 12, 12:15 am ET

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jul 12, 2007 -- Sonora Gold Corp. ("Sonora Gold" or the "Company") (CDNX:SGG.V - News)(Other OTC:SGGFF.PK - News)(Frankfurt:T9N.F - News) is pleased to announce the completion of the final agreement (the "Agreement") to sell 100% of its shares, rights, title and interest of First Silver Reserve S.A. de C.V. and Recursos Escondidos S.A. de C.V. (the "Subsidiaries") to Animas Resources Inc. (the "Purchaser") (CDNX:ANI.V - News) (formerly Deal Capital Ltd., a TSX Venture Exchange listed Capital Pool Company). The Subsidiaries are registered and beneficial holders of the past producing Santa Gertrudis and Roca Roja properties located in Sonora, Mexico.

As consideration, the Purchaser has paid US$650,000 and issued 1,500,000 escrowed common shares of the Purchaser to the Company at Closing with final TSX Venture Exchange acceptance. The Purchaser also paid the Company an aggregate of $25,000 as a non-refundable deposit for execution of the Letter of Intent and US$20,000 for subsequent extension fees. Three additional payments of US$500,000 will be paid to the Company in cash and/or common shares of the Purchaser at the option of the Purchaser on the first, second and third anniversaries of the Closing date.

This transaction does not immediately include the Company's 100% owned San Enrique copper, molybdenum, gold, and silver property that is currently under an option agreement ("San Enrique Option Agreement") with Minera Teck Cominco Ltd. ("Teck Cominco"). Under the terms of the San Enrique Option Agreement, Teck Cominco may spend US$3.5 million over 5 years to earn a 60% interest and upon earning that interest, may then elect to earn an additional 10% by spending an additional US$3.5 million on the San Enrique property.

The Company has entered into a right of first refusal agreement with the Purchaser, offering a 120 day option to purchase the Company's 100% interest in the San Enrique property should Teck Cominco's earn-in option be terminated. Terms of the option would include, US$450,000 payable in cash or common shares of the Purchaser at the option of the Purchaser, and US$20 for each ounce in excess of 45,000 ounces on the Properties subject to the Option, contained in mineralized material above a 1.5 gram per tonne Au cut off in 43-101 compliant measured and indicated resource categories. If Teck Cominco earns any interest in the Properties, then on the day Teck Cominco earns such interest the Purchaser's Option on the properties will terminate and have no further force or effect. Should the Purchaser choose to exercise the option with respect to any portions of the Properties that are returned to the Company by Teck Cominco the Purchaser shall pay the Company that percentage of the exercise price which is equal to the percentage of the total surface area of the portions so returned in relation to the total San Enrique Option Lands area. Conversely, should the Purchaser choose to not exercise the option over particular returned portions, the total exercise price will be adjusted in the same fashion as described above.

At this time, Teck Cominco's option to earn an interest in Sonora Gold's San Enrique Option Lands remains in good standing. Teck Cominco is continuing exploratory work in 2007 with 3D structural and geophysical analysis and up to 2000 meters of drilling scheduled to commence upon availability of a drill rig. Teck Cominco has expended over US$1 million on the San Enrique Option Lands to date and has established a preliminary US$500,000 budget for exploration in 2007.

Sonora Gold is now planning to pursue other opportunities available to the Company and finalize summer exploration plans for the drill-ready RHG copper-gold porphyry prospect in northwestern British Columbia.

For more information on Sonora Gold, visit www.sonoragold.ca.

On Behalf of the Board,

Dave McMillan, President & C.E.O.

Sonora Gold Corp.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.



The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


Contact:

Contacts:
Sonora Gold Corp.
Tom Brady
Investor Relations
(604) 685-5851 or Toll Free: 1-888-685-5851

Sonora Gold Corp.
Chad McMillan
Investor Relations
(604) 685-5851 or Toll Free: 1-888-685-5851
(604) 685-7349 (FAX)

Sonora Gold Corp.
Arthur Ferjo
(705) 743-5042
Email: ir@urg.ca
Website: http://www.sonoragold.ca


Source: Sonora Gold Corp.


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nlightn nlightn 17 years ago
Sonora Gold Corp. Signs Definitive Agreement With Deal Capital Ltd. to Sell Santa Gertrudis Property
Wednesday May 23, 12:15 am ET

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--May 23, 2007 -- Sonora Gold Corp. ("Sonora Gold" or the "Company") (CDNX:SGG.V - News)(Other OTC:SGGFF.PK - News)(Frankfurt:T9N.F - News) is pleased to announce the Company has signed a definitive agreement to sell the Santa Gertrudis gold property to Deal Capital Ltd. (the "Purchaser") (CDNX:DCP-P.V - News).

Under the terms of the agreement, Deal Capital Ltd., a TSX Venture Exchange listed Capital Pool Company, will pay US$650,000 and issue 1,500,000 escrowed common shares to the Company upon closing. Three additional payments of US$500,000 will be paid to the Company in cash and/or common shares (at the option of the Purchaser) on the first, second and third anniversaries of the agreement.

This transaction does not include the Company's interest in the approximately 8,400 hectare copper, molybdenum, gold, and silver San Enrique Option Lands, where project Operator, Minera Teck Cominco Ltd., is continuing exploration to earn up to a 70% interest in the property.

This transaction is subject to TSX Venture Exchange approval.

On Behalf of the Board,

Dave McMillan, President & C.E.O.

Sonora Gold Corp.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.



The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


Contact:

Contacts:
Sonora Gold Corp.
Tom Brady
Investor Relations
(604) 685-5851 or Toll Free: 1-888-685-5851

Sonora Gold Corp.
Chad McMillan
Investor Relations
(604) 685-5851 or Toll Free: 1-888-685-5851
(604) 685-7349 (FAX)

Sonora Gold Corp.
Arthur Ferjo
Investor Relations
(705) 743-5042
Email: ir@urg.ca
Website: http://www.sonoragold.ca


Source: Sonora Gold Corp.


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Railrunner Railrunner 17 years ago
whats makin this move?
👍️0
nlightn nlightn 18 years ago
Sonora Gold Corp. Announces Changes to Board of Directors
Red Tusk Copper Gold Acquisition Completed-Fall 2006 Drill Program Planned
Aug 24, 2006 12:15:00 AM
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 24, 2006) - Sonora Gold Corp. (TSX VENTURE:SGG)(PINK SHEETS:SGGFF)(FWB:T9N) -

SAN ENRIQUE DRILL PROGRAM UPDATE

MEXICAN SUBSIDIARY SALE UPDATE

Sonora Gold Corp. ("the Company") welcomes W.K. Crichy Clarke, B.A. and John Nicholson, P.Geo FRGS as Directors and updates shareholders on the progress of summer operations.

Mr. Clarke's corporate experience includes 12 years (1975 to 1987) working with the Royal Bank of Canada in Vancouver, Montreal, Toronto, New York, Houston, Portland, Edmonton, and Calgary, rising to Senior account manager, national accounts, Energy for that organization. He has also worked as a stock broker at both McDermid St. Lawrence Ltd. and Canaccord Capital Corp. (1987 to 1994). Mr. Clarke is currently President, CEO and Director of TTM Resources Inc., a TSX Venture Exchange listed Company and is also active in a number of private companies in British Columbia and Alberta, focused on resource exploration and real estate.

Mr. Nicholson is another addition to the Company's Board of Directors, lending extensive experience in precious and base metals exploration and development, having worked on projects in both North and South America. Mr. Nicholson is a Professional Geologist, and Fellow of the Royal Geographical Society (FRGS).

Robert A. Sibthorpe, P.Geo has resigned from the Board due to other commitments but will continue to lend his expertise to the Company as a Consultant. The Company thanks Mr. Sibthorpe for his past contributions as a Director.

RED TUSK COPPER-GOLD ACQUISITION COMPLETED, FALL 2006 DRILL PROGRAM PLANNEDThe Company's takeover of Red Tusk Resources Inc. closed on July 14, 2006. The Company is now awaiting government approval to commence a 24 hole diamond drill program at the northwest British Columbia based RHG Copper-Gold prospect, one of two new properties the Company has acquired in this transaction.

SAN ENRIQUE DRILL PROGRAM UPDATE

Minera Teck Cominco, S.A. de C.V. ("Teck Cominco") has advised that drilling continues on the copper-molybdenum-gold San Enrique property that Teck Cominco has under option from the Company. The first assay results from this 2000-2500 metre, 10 hole diamond drill program are anticipated in the next 3 weeks.

SALE OF TWO MEXICAN SUBSIDIARIES NEAR COMPLETION

The Company continues to work diligently towards closing the sale of two of its Mexican subsidiaries, including the former producing Santa Gertrudis Gold mine. Although progress on this transaction has been slower than expected, management is now anticipating it will close in early September.

The Board of Directors has also approved the issuance of 2,600,000 stock options exercisable at CAD $0.09 for 2 years to be allocated to Officers, Directors, Employees, and Consultants of the Company, subject to Toronto Venture Exchange Approval.

For more information, visit www.sonoragold.ca.

On Behalf of the Board

Dave McMillan, President & C.E.O.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION PLEASE CONTACT:
Sonora Gold Corp.
Tom Brady
Investor Relations
(604) 685-5851 or Toll Free: 1-888-685-5851

Sonora Gold Corp.
Chad McMillan
Investor Relations
(604) 685-5851 or Toll Free: 1-888-685-5851
Fax: (604) 685 7349 (FAX)

Sonora Gold Corp.
Arthur Ferjo
Investor Relations
(705) 743-5042
ir@urg.ca
www.sonoragold.ca

Source: Sonora Gold Corp.


----------------------------------------------
Sonora Gold Corp.
Tom Brady
Investor Relations
(604) 685-5851 or Toll Free: 1-888-685-5851

Sonora Gold Corp.
Chad McMillan
Investor Relations
(604) 685-5851 or Toll Free: 1-888-685-5851
Fax: (604) 685 7349 (FAX)

Sonora Gold Corp.
Arthur Ferjo
Investor Relations
(705) 743-5042
ir@urg.ca
www.sonoragold.ca
👍️0
nlightn nlightn 18 years ago
this press release discusses the region that Sonora is in,...

i thought i would be of interest to the forum.

Premium Exploration, Inc. Announces Cucurpe Project Exploration Update-1
8/15/2006
Discovery of Copper-Molybdenum-Lead-Zinc Mineralization and Highly Anomalous Arsenic & Antimony Indicative of Potential for Buried Copper Porphyry and Epithermal/Carlin-Type Gold Deposits

VANCOUVER, BRITISH COLUMBIA, Aug 15, 2006 (CCNMatthews via COMTEX News Network) --

Premium Exploration, Inc. (TSX VENTURE:PEM) ("Premium" or the "Company") (http://www.premiumexploration.com) is pleased to provide an update on the progress of exploration at it's Cucurpe Project, located in the State of Sonora, Mexico. This update is the first of a series of monthly updates the Company expects to release on our exploration progress at the Cucurpe Project for the rest of 2006. The highlights of the results obtained so far from the Phase 1 of the 2006 exploration campaign include:

- Identification of copper-molybdenum-lead-zinc mineralization zone that the Company is naming the "El Toro - Bamori Copper Zone".

- Discovery of anomalous gold and highly anomalous concentrations of pathfinder elements (arsenic, antimony and bismuth) for epithermal/Carlin-type gold deposits within structures in the El Toro - Bamori Copper Zone, potentially indicating metal leakage from buried gold deposits.

- Identification of a bonanza grade quartz vein and potential bulk-tonnage gold mineralization in the La Josephina area.

The Cucurpe Project comprises approximately 12,000 hectares (29,650 acres), 10,000 ha of which were staked by Premium, and an additional 2,000 ha are under option to Premium to purchase a 100% interest in through a combination of work commitments and cash payments. The Cucurpe Project area holds potential to host significant gold and base metal deposits. The region that the Company's Cucurpe Project is located in is currently the focus of substantial mineral exploration activity as well as reactivation and planning of new gold mines by both major and junior exploration companies, including Teck Cominco Ltd. (TSX:TCK.A)(TSX:TCK.B)(NYSE:TCK), Sonora Gold Corporation (TSX VENTURE:SGG), Meridian Gold, Inc. (NYSE:MDG)(TSX:MNG) and Columbia Metals Corporation (TSX VENTURE:COL).

The Cucurpe Project is located adjacent to the SW corner of Sonora Gold's Enrique Joint Venture Project with Teck Cominco Limited. Additionally, Teck Cominco has staked 90,000 ha of mining claims that completely surround the Company's Cucurpe Project. Premium has identified 33 different prospects on the Cucurpe Project for gold and copper mineralization. The Company has recently completed sampling at the Buena Vista prospect, and is currently focusing exploration efforts at the newly discovered El Toro - Bamori Copper prospect. As the Company's exploration work progresses at Cucurpe it will expand its exploration program to include the other 30 prospects it has identified on the property.

About the "El Toro - Bamori Copper Zone" - Discovery of significant base metal mineralization and highly anomalous pathfinder elements indicate potential for buried porphyry copper and epithermal / Carlin-type gold deposits

The El Toro - Bamori Copper Zone is located north-northwest of the high-grade gold Buena Vista prospect and trends northwest for three kilometers from El Toro, where an area of alteration approximately 100 by 300 meters meters is centered over copper staining on highly fractured rocks, to the Bamori area, where copper-stained float has been identified in creeks. It is not known at this time whether the El Toro-Bamori Copper Zone is a continuous zone or two separate and distinct copper zones. A reconnaissance sample taken from an old shallow trench between El Toro and Bamori returned 1000 ppm copper, 121 ppm molybdenum, 855 ppm zinc, 2.35% lead and 14 ppm bismuth. Additionally, a soil sample grid 500m x 600m, centered on the area of copper staining at El Toro has been completed. Inside this sample grid the Company collected approximately 150 soil samples, as well as 11 rock chip samples. These samples have been sent to the ALS-Chemex lab in Hermosillo, Mexico for analysis. The Company has initiated an expanded mapping and surface sampling program of this area and will report its results upon receipt of assays from the lab.

This sample mentioned above within the copper zone also returned 224 ppb gold, 5.2 ppm silver, 7230 ppm arsenic, 108 ppm antimony. The values for gold and silver are anomalous, and those for arsenic and antimony are highly anomalous; these elements are "pathfinder" elements which are commonly found with epithermal type gold deposits, including Carlin-type deposits. The presence of these metals along a structural corridor may represent leakage of mineralization from buried mineral deposits along this structure, formed within favorable host rocks such as those hosting the Santa Gertrudis deposits 10 km northeast of Cucurpe. The rocks in this area may have acted as a relatively permeable barrier to pool and deposit mineralization at depth.

About the "La Josephina Prospect" - A bonanza-grade quartz vein and potential bulk-tonnage gold mineralization

Located 2.3 km NE of Buena Vista, La Josephina is the site of past small-scale mining. Two grab samples of vein dump material from this area returned assay values of 56.8 g/t gold and 5.4 g/t silver, and 43.6 g/t gold and 82.2 g/t silver, respectively. Two preliminary samples from the vein structure returned 2.62 g/t gold and 1.87 g/t gold, respectively. The Company has initiated further surface sampling of this vein structure and reconnaissance sampling of the surrounding area to identify the areas with potential for a bulk-leachable gold deposit.

Status Update on the 2006 Phase 1 Exploration Program for the Cucurpe Project:

As previously announced on April 11, 2006, the Company is completing a $200,000 soil sampling and mapping program on the Project. To date the Company has taken over 400 soil samples from the Buena Vista area, from a grid approximately 1400 by 600 meters, oriented across the strike of the Buena Vista vein structure, to test an area of potential low-grade bulk tonnage gold mineralization. These samples have been sent for analysis at the ALS-Chemex laboratory in Hermosillo, Mexico and all results are expected to be completed by early September.

The Company is currently compiling airborne magnetic data and regional geochemistry data obtained from the Servicio Geologico Mexicano for the entire Cucurpe Project. This data will assist in identifying areas of anomalous base metal mineralization and magnetic anomalies, which are associated with porphyry targets elsewhere in the district. Premium Exploration will publish a compilation map and interpretation on our web site at www.premiumexploration.com upon completion of Phase 1 of our 2006 Cucurpe Exploration Program. It is anticipated that the Company will complete the Phase 1 sampling and mapping campaign in the early 4th quarter of 2006. A drill campaign to test targets developed from this sampling program and data compilation is anticipated to commence in the 4th quarter of 2006 or early first quarter of 2007.

Ms. Nancy Reardon, M.Sc., P.Geol, SEG Fellow, Chief Operating Officer and Director of the Company, is the qualified person responsible for the technical disclosure in this press release under National Instrument 43-101.

http://www.stockhouse.com/news/news.asp?newsid=3848079&tick=SGG
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nlightn nlightn 18 years ago
SONORA GOLD CORPORATE UPDATE
May 30, 2006

Sonora Gold Corp. (“Sonora Gold”) is updating shareholders on the progress of current operations.

RED TUSK RESOURCES INC. TAKEOVER
Sonora Gold reports that the Red Tusk Resources Inc. take-over proposal was accepted by Red Tusk shareholders, with more than 93% of the total outstanding Red Tusk shares accepting the proposition. The Company is now applying for final approval from the Toronto Venture Exchange. The 1 for 1 share exchange transaction (totaling 4,725,000 Red Tusk shares for 4,725,000 Sonora Gold shares) includes the acquisition of two new
properties for Sonora Gold – a 100% ownership in the approximately 27,000 acre ‘drill ready’ RHG Copper/Gold prospect in northwestern British Columbia, as well as a 100% option on the 28,000 acre Tantalus massive sulphide prospect in southwestern British Columbia. Upon final approval of the transaction, the Company will be submitting an application for a 24 hole drill program on the RHG property, anticipated to commence this summer.

MEXICAN SUBSIDIARY SALE
Work is continuing towards the final approval of the sale of two of Sonora Gold’s wholly owned Mexican subsidiaries; however the transaction has not yet closed. The closing of the sale has been extended, pending completion of the Mexican authorities’ review of the subsidiaries’ filings. This sale is also subject to the final approval of the Toronto Venture
Exchange.

TECK COMINCO COPPER/MOLY/GOLD JOINT VENTURE PROJECT
Sonora Gold has been verbally updated on the progress of the San Enrique Copper/Molybdenum/Gold joint venture project by the Operator, Teck Cominco.
Management is awaiting a formal presentation from Teck Cominco, which will summarize all work completed in 2006 thus far, and include the details of a comprehensive summer drill program anticipated to commence early this summer. This presentation shall be occurring in mid to late June, and investors shall be promptly informed of its content as soon as possible thereafter.

OPTIONS
Sonora Gold is also announcing that it is granting 2,350,000 two year options priced at CDN $0.115 to Directors, Officers, and Consultants of the Company, expiring May 28, 2008, subject to Toronto Venture Exchange approval.

For more information visit the Company’s web site at www.sonoragold.ca
On Behalf of the Board
*Dave McMillan*
Dave McMillan
President & C.E.O.
Sonora Gold Corp.
Tom Brady / Chad McMillan / Arthur Ferjo
604) 685-5851 or Toll Free: (888) 685-5851
Fax: (604) 685-7349
Email: ir@urg.ca
Website: www.sonoragold.ca/
This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward looking statements that involve various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.



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nlightn nlightn 18 years ago
Sonora Gold Corp. Announces Drilling Commences at The San Enrique Copper Moly Gold Project, Closes Red Tusk Acquisition, and Updates Santa Gertrudis Sale
Monday July 17, 12:15 am ET

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jul 17, 2006 -- Sonora Gold Corp. ("Sonora Gold" or "the Company") (TSX VENTURE:SGG.V - News)(Other OTC:SGGFF.PK - News)(FWB: T9N) announces that progress continues on all aspects of operations including drilling at the San Enrique Option Lands, the closing of the Red Tusk Resources Inc. takeover, and an anticipated closing date for the Company's sale of two Mexican subsidiaries.

San Enrique Drilling Commences

Minera Teck Cominco, S.A de C.V. ("Teck Cominco") has advised the Company that on July 4th, 2006, an approximate 10 hole, 2000 to 2500 metre diamond drill program began on the 8500 hectare San Enrique copper/molybdenum/gold property that Teck Cominco has under option from the Company (the "Option Lands"). This drilling is concentrated in the 'Nacho Libre' anomaly where previous shallow drilling by Sonora Gold encountered values of up to 27.6 meters grading 0.148% Mo, 0.308% Cu and 6.7 gpt Ag. Teck Cominco has advised that this drilling will be significantly deeper than Sonora's previous program with the objective of testing the continuity of mineralization at depth.

A preliminary report on Nacho Libre was provided by Teck Cominco, highlighting additional work in that specific area. A total of 113 rock samples were collected from the property, resulting in average values of 56 ppb Au, 508 ppm Cu, 351 ppm Mo. The highest values reported were 1330 ppb Au, 10,750 ppm Cu, and 8,501 ppm Mo. The Nacho Libre anomaly is only one of several additional anomalies on the San Enrique Option Lands, and more detail of work programs on those areas is expected soon.

Teck Cominco must spend US$3.5 million over 5 years to earn a 60% interest. Upon completion of this initial expenditure Teck Cominco may elect to earn an additional 10% by spending an additional US$3.5 million on the approximately 8,500 hectare San Enrique Option Lands. Teck Cominco has spent approximately US$170,000 in 2006 and has budgeted approximately US$500,000 for the remainder of the year.

Red Tusk Acquisition Approved

The Company also announces that it has received final approval from the Toronto Venture Exchange for the take over of Red Tusk Resources Inc. and the transaction is now closed. Red Tusk Resources shareholders will receive one (1) Sonora Gold Corp. share for every one (1) Red Tusk Resources Inc. share (totaling 4,725,000 Red Tusk shares for 4,725,000 Sonora Gold shares). This transaction includes the acquisition of two new properties for Sonora Gold - a 100% ownership in the approximately 27,000 acre 'drill ready' RHG Copper/Gold prospect in northwestern British Columbia, as well as a 100% option on the 28,000 acre Tantalus massive sulphide prospect in southwestern British Columbia. The Company has applied for permitting of a proposed 24 hole diamond drill program on the RHG Copper/Gold prospect and is tentatively scheduled to commence late this summer.

Santa Gertrudis Sale Update

The Company's sale of two Mexican subsidiaries has also received approval from the Toronto Venture Exchange and is expected to close soon. This sale, including the past producing Santa Gertrudis gold property, is for gross proceeds of US $3,050,000 and the lesser of 5% or 1,000,000 two year warrants in Sonora Copper LLC, exercisable at the lesser of US $0.40 or the public financing price. The cash is payable in three instalments, the first being the closing date then 3 months and 6 months after closing. The warrants will be issued on the day Sonora Copper LLC comes to trade on any exchange in any manner. This transaction does not include the San Enrique Option Lands where Teck Cominco is earning an interest in the property as reported above.

For further information, visit http://www.sonoragold.ca/

On Behalf of the Board

Dave McMillan, President & C.E.O.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.



The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


Contact:

Contacts:
Sonora Gold Corp.
Tom Brady
INVESTOR RELATIONS
(604) 685-5851 or Toll Free: (888) 685-5851
(604) 685-7349 (FAX)

Sonora Gold Corp.
Chad McMillan
INVESTOR RELATIONS
(604) 685-5851 or Toll Free: (888) 685-5851
(604) 685-7349 (FAX)

Sonora Gold Corp.
Arthur Ferjo
(705) 743-5042
(604) 685 7349 (FAX)
ir@urg.ca web
http://www.sonoragold.ca


Source: Sonora Gold Corp.




👍️0
nlightn nlightn 18 years ago
Sonora Gold Corp. Approves Resolutions, Commences Red Tusk Share Exchange Procedures, and is Called to Trade on the Frankfurt Exchange 'Symbol T9N'
Monday May 15, 12:15 am ET

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 15, 2006) - Sonora Gold Corp ("Sonora Gold") (TSX VENTURE:SGG - News; OTCBB:SGGFF - News; FWB:T9N)announces that all proposed resolutions were approved by shareholders at the Annual and Special meeting held May 11, 2006. This includes approval on the proposed sale of the Mexican subsidiaries (First Silver and Recursos) to Sonora Copper LLC, (which includes the past producing Santa Gertrudis Gold property) and the re-election of Sonora Gold's Board of Directors. The subsidiary sale does not include the San Enrique Option Lands where Teck Cominco Ltd. is currently engaged in a joint venture copper/molybdenum/gold exploration project with Sonora Gold.

With regards to the Red Tusk Resources Inc. acquisition negotiations, Sonora Gold has now made a formal offer to take over the company. Sonora Gold has received an exemption order from the British Columbia Securities Commission exempting Sonora Gold from the formal takeover bid requirements of the British Columbia Securities Act. Red Tusk Resources management is unanimous in their support of the proposal and is currently circulating share exchange documents to the existing Red Tusk shareholders. Sonora Gold requires the acceptance of 75% of Red Tusk's 4,725,000 outstanding common shares to proceed with the proposed one for one share exchange. The exchange of shares is expected to close May 30, 2006.

Both the sale of the Mexican subsidiaries and the acquisition of Red Tusk Resources Inc. are subject to final TSX Venture Exchange approval.

In addition, Sonora Gold Corp. ("Sonora Gold") announces that the Company is now listed on the Frankfurt Stock Exchange under the trading symbol T9N. This will provide the European investment community greater access to purchasing and selling Sonora Gold Corp. shares. The Frankfurt Stock Exchange is one of the world's largest trading centers for securities, and is also the largest of the eight German stock exchanges. Sonora Gold has also initiated discussions for a European based Investor relations firm to represent the Company abroad.

Sonora Gold would also like to remind shareholders that the Company is listed on the OTC-BB trading under the symbol SGGFF.

MORE ABOUT SONORA GOLD CORP.

The Company is currently focused on three business areas; the Teck Cominco Copper/Molybdenum/Gold Joint Venture Project, the Santa Gertrudis sale; and the Red Tusk Resources Inc. acquisition.

1 - TECK COMINCO - SONORA GOLD JV COPPER/MOLYBDENUM/GOLD PROJECT

In the fall of 2005 and in January 2006, Teck Cominco Minera and Sonora Gold Corp. signed joint venture agreements on the San Enrique Option Lands, a Copper/Molybdenum/Gold prospect in Sonora State, Mexico. Teck Cominco has the right to earn up to a 70% interest in this 8,500 hectare prospect by spending up to US $7 million on the property under various terms and conditions. Sonora Gold currently owns a 100% interest in the San Enrique Option Lands. All costs associated with the property are covered by Teck Cominco, the project operator. To date 3200 meters of exploration drilling has been completed on the property, 2000 meters previously undertaken by Sonora Gold and approximately 1200 meters undertaken by Teck Cominco since December 2005. Teck Cominco is currently working on surveying, sampling, and geophysical analysis of the entire 8500 hectare area, with the objective of outlining a comprehensive exploratory drill program slated to commence early this summer. Continuing preparatory work on these San Enrique Option Lands has identified a minimum of 5 anomalous areas of interest (see website) which are currently being assessed for drill targets. Highlights of these lands include: - Excellent potential for hosting deeper, high-grade Carlin-style mineralization.

- Ore grade Copper, Molybdenum and Silver intercepts encountered in Sonora Gold's previously reported 2000 meter core drilling program at San Enrique. Hole # 05-15 returned 27.6 meters grading 0.148% Mo, 0.308% Cu and 6.7gpt Silver. Within this interval 5.3 meters graded 0.454% Mo, 0.92% Cu and 21.3gpt Silver.

2 - THE SONORA GOLD MEXICAN SUBSIDIARY SALE

In the spring of 2006, Sonora Gold entered into a letter agreement with Sonora Copper LLC, to sell its two Mexican Subsidiaries, which includes a 100% interest in the past producing Santa Gertrudis gold property. The sale equates to US $3,050,000 paid to Sonora Gold in three cash payments within 6 months of closing, which is expected in the near future. The proposed transaction also includes 2 year warrants totaling the lesser of 1,000,000 warrants or 5% of the total issued common shares, and will be issued on the date Sonora Copper LLC is listed to trade on any exchange in any manner under various terms and conditions.

3 - RED TUSK RESOURCES INC. ACQUISITION

Sonora Gold Corp has also formalized the takeover of Red Tusk Resources Inc., Red Tusk's two British Columbia mineral properties, namely the 100% owned RHG Copper/Gold project and the 100% optioned Tantalus Mountain Massive Sulphide prospect. Sonora Gold is planning extensive summer exploration work on these properties once the acquisition is closed.

THE RHG PROJECT

The RHG project is a 10,964 hectare northcentral British Columbia porphyry/skarn Copper/Gold prospect located in the prolific Copper belt hosting the Galore Creek/Copper Canyon deposits. Work by previous companies identified porphyry style mineralization grading greater than 1% Copper in intrusive rocks, 1.5% Copper from fractured silicified volcanics, and 30% Copper and 0.40 ounces Gold/ton from skarn. A national instrument 43-101 report on the property outlined the 2005 rock sampling program on the RHG prospect which assayed samples as high as 0.78% Copper. An induced polarization (I.P.) survey resulted in large chargeability anomalies in the area of mineralized occurrences. Copper geochemical anomalies are coincident with the I.P. anomalies. Three dimensional modeling of government airborne magnetic data suggests the RHG prospect is underlain by a buried intrusive which possibly provided the source of the abundant copper mineralization. The property is currently 'drill ready,' and Sonora Gold intends to commence a significant diamond drill program on the property early this summer.

THE TANTALUS MOUNTAIN PROJECT

The Tantalus project is underlain by the Gambier Group rocks forming a roof pendant. Studies have indicated the Gambier rocks are age and chemically equivalent to the Britannia roof pendant which hosted the historic Britannia massive sulphide deposit. Production from the Britannia mine totaled approximately 48 million tonnes at an average grade of 1.1% Copper, 7% Zinc, and 1% Lead with Gold and Silver credits. Airborne geophysical surveys resulted in five high priority electro-magnetic anomalies worthy of detailed follow-up. An additional ground exploration program is being contemplated for the summer, including surveying, sampling, and I.P. surveys in these high priority areas. Follow-up work to the program will include drilling, if warranted.

For further information on Red Tusk Resources Inc., please visit www.redtusk.ca.

On Behalf of the Board

Dave McMillan, President & C.E.O

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


Contact:

Tom Brady
Sonora Gold Corp.
(604) 685-5851 or Toll Free: 1-888-685-5851

Chad McMillan
Sonora Gold Corp.
(604) 685-5851 or Toll Free: 1-888-685-5851
(604) 685-7349 (FAX)

Arthur Ferjo
Sonora Gold Corp.
(705) 743-5042
ir@urg.ca
www.sonoragold.ca/

Source: Sonora Gold Corp.



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