|By Marketwired .||
|June 27, 2014 08:00 AM EDT|
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/27/14 -- Barisan Gold Corporation (TSX VENTURE:BG) is pleased to announce that it has completed the sale of the Collins prospect as initially announced on March 4, 2013.
Barisan Gold has received a cheque for 7,289,517,168 Indonesian rupiah (equivalent to approximately $650,000 Canadian dollars) from the purchaser. An initial 1,000,000,000 Indonesian rupiah deposit had been held in escrow since March 2013. That amount has now also been released from escrow. The cheque is expected to be deposited in the Company's bank account over the next few days following the completion of the final clerical steps.
The proceeds from the sale will be applied to advance exploration and drilling at the Company's Upper Tengkereng gold-copper porphyry discovery.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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About Barisan Gold Corporation
Barisan Gold (TSX VENTURE:BG) is a Canadian-based minerals exploration company listed on the TSX Venture Exchange under the symbol "BG". The Company is engaged in the exploration, acquisition and development of mineral properties in Indonesia. Barisan Gold currently owns and operates two gold and gold-copper properties in Indonesia's Aceh Province on the northern tip of Sumatra Island, namely the Barisan gold-copper porphyry belt and the Abong epithermal gold project. Barisan Gold currently has 40,721,186 shares outstanding.