Renaissance Gold Reported On Positive Development

WHITE ROCK, BC - Renaissance Gold Inc. reported a number of significant positive developments over the past several months, which collectively define a transformational event for the Company. In the past three months, the Company has executed new deals on eight Nevada properties, completed the significant corporate acquisition of Kinetic Gold Corp., and entered into a strategic alliance with Coeur Mining, Inc. 

The Company has recently attracted an impressive list of partners including Kinross, Coeur, AngloGold Ashanti North America Inc., Ramelius Resources Limited and S2 Resources Ltd. to add to its current partners including Troymet Exploration Corp. and Radius Gold Inc. Kinross and Coeur have also participated in private placements.

Ronald Parratt, CEO said, "Signals of an improving market for exploration-focused prospect generators in 2016 prompted the Company to seriously consider how it might prepare to most effectively position itself to take advantage of a rising market. The acquisition of Kinetic Gold Corp. brought in 10 high-quality gold projects in Nevada at a time when the demand for quality projects was increasing. It seems now that our vision was correct and we are quite pleased to have completed these recent transactions which have placed several existing and newly acquired projects into new earn-in agreements."

Drilling is scheduled for the second half of 2017 on the Spruce East, Buffalo Canyon, and Diamond Point projects. All three of these projects are in the earn-in agreement with Kinross (see NR May 15 2017). Troymet, our partner on the Wildcat project in Utah is planning a small core drilling program later in the year, and Radius is also planning a drill program on our Spring Peak Project for later this year, pending receipt of a permit from the U.S. Forest Service. AngloGold Ashanti has been conducting mapping, sampling and spectral work on the Silicon property and are advancing drill targets. Ramelius is planning to commence work on the Jupiter project and have plans to conduct additional geologic mapping, a detailed gravity survey and a soil geochemical survey, with an aim to conduct a first drilling program later in the year. S2 Resources is planning the commencement of exploration activities on the South Roberts, Pluto and Ecru projects, beginning in the Fall. Generative activities under the Coeur alliance and elsewhere are ongoing.

Robert Felder, President said, "We have seen a marked increase in interest to joint venture our exploration stage properties over the past several months, which has resulted in several very important transactions for the Company. We now have eleven of our projects in agreements and are having ongoing conversations that we are hopeful will result in additional business for us. Based on the recent deal flow we expect to see drilling on 8-10 of our properties over the next year. This significant increase in the level of activity and drilling of our projects is exactly the path we need to be on to maximize our chances for success and create real value for our shareholders."