Canadian Mining Journal

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MERGER: Kaminak shareholders approve buyout by Goldcorp



VANCOUVER – Shareholders of Kaminak Gold Corp. have approved the purchase of its issued and outstanding common shares by Goldcorp at a special meeting of Kaminak investors. Ninety-nine per cent of the votes cast were in favour of amalgamation.

The friendly, all-share deal worth $520 million was originally announced on May 12, 2016. Upon closing, Kaminak shareholders will receive 0.10896 common share of Goldcorp for each Kaminak share held.

Kaminak’s key asset is the 100%-owned Coffee gold project, a structurally hosted hydrothermal gold deposit located approximately 130 km south of the Dawson, YT. Coffee currently has total indicated gold mineral resources of 3.0 million oz (63.7 million tonnes at 1.45 g/t Au) inclusive of total probable gold mineral reserves of 2.2 million oz (46.4 million tonnes at 1.45 g/t), and total inferred gold mineral resources1 of 2.2 million oz (52.4 million tonnes at 1.31 g/t). Mineralization remains open along strike and at depth. Coffee has the potential to become a high grade, open pit, heap leach project.

Additional information regarding the terms of the arrangement are available on SEDAR (www.SEDAR.com) or Kaminak’s website.