|By Marketwired .||
|June 30, 2014 07:31 AM EDT||
SUDBURY, ONTARIO -- (Marketwired) -- 06/30/14 -- Ginguro Exploration Inc. (TSX VENTURE: GEG) ("Ginguro") is pleased to announce that it has reached an agreement to settle all aspects of its dispute with Endurance Gold Corporation ("Endurance") regarding the Pardo Joint Venture (the "Joint Venture"). As a result of the settlement, the ongoing arbitration between the parties has been terminated.
The parties have agreed that Ginguro owns a 64.5% interest in the Joint Venture and Endurance owns a corresponding 35.5% interest in the Joint Venture. Endurance will pay Ginguro $100,000 towards past exploration expenditures.
Both Ginguro and Endurance are pleased with the settlement of the dispute and arbitration matters and look forward to the continued advancement of the Joint Venture, in particular the exploration activities being conducted under the 2014 Program, which commenced in May. Both companies are funding the current program in line with their respective JV ownership interests.
Ginguro Exploration Inc. is a mineral exploration company focused on the advancement of its Pardo paleo-placer gold property, located in Pardo Township in northern Ontario. To learn more about Ginguro Exploration Inc., please visit: www.ginguro.com.
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" in the Corporation's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Corporation does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.
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.