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Wednesday, 29th August 2007 (2905 views)

Aurogin Resources and Morgain Minerals have announced that their respective shareholders have voted and they have now amalgamated to form a new corporation.

The new company, Castle Gold Corporation, has been created by certificate of amalgamation and approved by special resolution passed by Morgain shareholders on August 17th 2007.

Under the terms of the amalgamation, Aurogin shareholders will receive one common share of Castle Gold for each two Aurogin shares held, and Morgain shareholders will receive one common share in Castle Gold for each two Morgain shares held.

The common shares of Castle Gold will commence trading on the TSX Venture Exchange at the opening of trade on August 31st 2007 under the trading symbol CSG, when the common shares of Aurogin and Morgain will be delisted.

Aurogin described its 2007 objectives as producing 20,000 to 30,000 ounces of gold at El Sastre Main Zone, conducting phase I drill testing at Lone Mountain on prolific Battle Mountain, and expanding Guatemalan project resource base to more than one million ounces of gold.

Morgain Minerals is an emerging gold mining company "focused on the acquisition and development of profitable gold mines in Mexico" and is currently concentrating on bringing its Castillo Gold Project into production, which will be 100 per cent owned and operated by Castle Gold.

 

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