Edmonton, AB, April 18, 2016-Bandera Gold Ltd. (TSXV:BGL)(“Bandera”) announced today that it has terminated the litigation on its Cinco Minas and Gran Cabrera mining properties located in Mexico. Bandera has diligently defended its rights to enforce the original option agreement signed by the parties, only to be obstructed at every turn by procedural maneuvers common in the justice system in Mexico. The Board of Bandera has assessed the uncertainty of any potential resolution, timing, and cost of continuing the court cases, combined with general poor financial conditions in the mining sector affecting the market value of the properties.
After assessing these factors the Board has determined Bandera’s resources are better focused towards identifying and evaluating mineral properties of merit for acquisition, exploration and development.
On Behalf of the Board,
For further information please contact:
Peter Gommerud, CEO (780) 465-4129
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements,” Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding Bandera’s mineral property acquisitions.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.