DAILY NEWS Dec 4, 2012 4:26 PM - 0 comments

GOLD: Tails reprocessing at old Carolin mine to begin next year

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2012-12-04

BRITISH COLUMBIA – New Carolin Gold Corp. of White Rock, BC, has entered into a letter of intent with Shoreline Resource Management Group (SRM) for the establishment of a gold tailings reprocessing plant at the former Carolin mine, part of its Ladner gold project near Hope. SRM will provide engineering, procurement, construction and management of operations for New Carolin.

SRM plans to provide a turnkey operation and cover all costs associated with EPCM, after which point it will have earned 65% of the Carolin gold project. New Carolin will retain a 35% interest. SRM is conducting due diligence at the project site, and will deliver its plan for processing within 45 days. Upon completing the definitive agreement, New Carolin with add a seat on its board for one of SRM's executive team.

New Carolin's Ladner gold project includes the Carolin mine (a former underground small gold producer from 1982 to 1984), Emancipation mine (an intermittent small gold producer from 1916 to 1941), Pipestem mine (intermittent small gold producer from 1935 to 1937), and numerous other gold prospects situated along 18 km of the Coquihalla Gold Belt.

Visit NewCarolinGold.com for more information.



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