Firebird Announces Asset Sale of South Carolina Gold Project
Vancouver, BC, May 25, 2016 - Firebird Resources Inc. (FIX: TSXV) (the "Company" or "Firebird") Further to the Company's press release of May 2, 2106, the Company is pleased to announce that on May 20, 2016 it entered into an Asset Purchase Agreement (the "Agreement") with Pancontinental Uranium Corporation ("Pancon"), Appalachian Resources, LLC ("Appalachian") and Pageland Minerals Inc. ("Pageland").
Pursuant to the terms of the Agreement, the company will sell and assign all of the Mineral Leases associated with its Jefferson Gold Project in South Carolina. . Pancon paid the Company $21,500 upon execution of the Agreement and in addition will pay to the Company 716,667 Pancon common shares on the closing of the Agreement and $50,667 on August 18, 2016.
About the Company
Firebird Resources Inc. is focused on acquiring, exploring and developing gold resources. The Company maintains its Buzzard Gold Project in South Carolina, and the Mountain of Gold Project in Ontario, in good standing.
Firebird has 81,010,417 shares issued and outstanding and trades on the TSX Venture Exchange under symbol: FIX.
ON BEHALF OF THE BOARD
(signed) "John Cook"
President and CEO
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
This news release may contain forward-looking statements that are based on Firebird Resources Inc.'s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and Firebird Resources Inc. undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the 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 and has in no way passed upon the merits of the qualifying transaction and has neither approved nor disapproved of the contents of this press release.