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First Colombia Signs Memorandum of Understanding on Nile Mine

Project
Date : 05/06/2013
Source : Business Wire
Stock : First Colombia Gold Corp. (QB) (FCGD)

First Colombia Signs Memorandum of Understanding on Nile Mine
First Colombia Gold Corp. (QB) (USOTC:FCGD)
Intraday Stock Chart

Today : Monday 6 May 2013
Click Here for more First Colombia Gold Corp. (QB) Charts.

First Colombia Gold (OTC QB : FCGD) announced today it has signed a Memorandum of Understanding (“MOU”) with GMRV, a private company in Montana, for exploration of the Nile Mine project.

The project comprises approximately 55 acres and is located in the Marysville Mining District in Lewis and Clark County. It is comprised of the Nile Mine, a former lead, silver, and gold mine, and the nearby TG placer claim. The Nile Mine is reported to have had production from the 1890’s to the 1940’s, and has underground workings indicating a 90 foot shaft with 300 feet of drifts, as well as an 825 foot crosscut. The TG placer claim has tailings from a former producer with indications of both silver and gold values. Initially, the Company plans to complete initial due diligence and compile historical data. We also plan to commence surface and geological mapping, surface sampling, and conduct metallurgical testing of tailings present on the TG placer claim. Our plans also call for obtaining the required permits for rehabilitation efforts to gain safe access to underground workings, so additional sampling programs will be possible.

The MOU contemplates the signing of a definitive agreement within one hundred and eighty days after initial due diligence and initial exploration have been conducted on the property. After paying all filing fees and fees for consulting time, the contemplated definitive agreement envisages the company acquiring a fifty percent participating interest in the project. First Colombia has agreed to a minimum work commitment in 2013 increasing in 2014 according to requirements of a contemplated definitive agreement, and preparation of an initial exploration plan, referred to above. Further information is available in our 8k filing on this project.

About First Colombia Gold

First Colombia Gold Corp. is company focused on the acquisition, exploration and potential development of prospective gold and silver properties in North and South America. Our strategy is to build a pipeline of gold and silver projects to explore and develop, or enter into joint-ventures. We target projects in historic mining districts with what are believed to have potential for large-scale exploration or relative medium-term production.

Investor Inquiries:
David Kugelman
Atlanta Capital Partners
Telephone: [phone]

Toll Free: 1-866-692-6847

Email: [e-mail]



Share Structure
Market Value1 $73,106 a/o Nov 27, 2012
Shares Outstanding 56,235,486 a/o Sep 30, 2012
Float Not Available
Authorized Shares 200,000,000

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FCGD Security Details
Share Structure
Market Value1 $105,668 a/o May 03, 2013
Shares Outstanding 117,408,399 a/o Mar 31, 2013
Float Not Available
Authorized Shares Not Available
Par Value 0.00001