Corvus Gold Inc. (TSX:KOR,OTCQX:CORVF) reported that its subsidiary, Raven Gold Alaska Inc., completed the sale of its minority interest in the Terra Project in Alaska to its joint venture partner, Terra Gold Corp., for US$1.8M cash and 200,000 WestMountain common shares.
As quoted in the press release:
Proceeds from the Terra sale are intended to be used for the continued advancement of the Company’s recently identified Yellowjacket high-grade gold and silver discovery at its North Bullfrog project in Nevada. The Company is fully funded for the currently planned 2014 drill program at North Bullfrog.
Corvus Gold CEO, Jeff Pontius, said:
Selling our minority interest in this small seasonal mining project is another step in Corvus’s strategy of monetization of non-core assets to provide non-dilutive funding to advance our 100% controlled North Bullfrog project in Nevada. We have an active year planned for 2014 that includes a focused and aggressive drilling program targeting resource expansion at the Yellowjacket deposit and new discoveries at high potential targets located throughout the project. Corvus remains focused on maximizing the high-grade potential of its new Nevada gold-silver discovery in this premier mining jurisdiction.