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Monday, September 27, 2010

Investorideas.com - ADVENTURE GOLD (TSX-V:AGE) ACQUIRES THE GRANADA EXTENSION PROPERTY ADJACENT TO GOLD BULLION'S LONG BARS ZONE, ROUYN-NORANDA, QUEBEC

Investorideas.com - ADVENTURE GOLD (TSX-V:AGE) ACQUIRES THE GRANADA EXTENSION PROPERTY ADJACENT TO GOLD BULLION'S LONG BARS ZONE, ROUYN-NORANDA, QUEBEC




MONTREAL, QC September 27, 2010 (Investorideas.com Mining stocks newswire) - Adventure Gold Inc. (AGE: TSX-V) (the "Company"), is pleased to announce the acquisition of the new high gold potential Granada Extension property covering approximately 200 hectares along the Cadillac Larder Lake Gold Break, in the Rouyn-Noranda mining camp, Quebec (Figure 1 – see website). The Property includes the interpreted lateral and southern extensions of the Gold Bullion Long Bars Zone, where a preliminary block model outlined a gold-mineralized system that offers a potential of 2.4 million ounces of gold (non-compliant with NI 43-101; Gold Bullion press release, April 22, 2010). The Granada Extension property boundary (Figure 2 – see website) is located less than 30 meters from the southernmost part of the former Granada Mine pit #2, 250 meters East of drill hole GR-10-17 which had returned 1.0 g/t Au over 99 meters and less than 450 meters West of pit #1 and drill hole GR-10-21 which had returned 2.2 g/t Au over 20 meters (Gold Bullion press release, March 1, 2010).

Jules Riopel, Vice-President Exploration and Acquisitions at Adventure Gold stated: "A proven major gold structure environment and several favourable geological features were recognized on the Property, leading us to acquire this strategic land position. In fact, porphyritic dykes, shear zones, and quartz veins were observed South and South West of the former Granada Mine. Moreover, our interpretation of the information released by Gold Bullion and those from the Quebec Sigeom database suggest that the Long Bars Zone probably extends onto our new Property and these extensions had never been drilled. A prospecting program is slated to start this week."
The Granada Extension property consists of 11 mining titles, three of which were bought from two individuals in counterpart of staged cash payments totalling $50,000 over 4 years, 100,000 shares and 250,000 stock options at $0.25 of the Company. The vendors will retain a 1.5% NSR, of which 0.5% can be bought back for $500,000. The shares issued by the Company pursuant to the agreement with the vendors shall be subject to a four-month hold period from their issuance date. This agreement is subject to the approval of the TSX Venture Exchange. Jules Riopel P.Geo. Vice-President Exploration and Acquisitions, who acts as the Company's "Qualified Person" as defined by NI 43-101, has reviewed this press release.
Profile:
Adventure Gold Inc. is a mining exploration company focused on discovering high quality gold deposits in the Abitibi greenstone belt located in north-west Quebec and north-east Ontario - one of the richest gold deposit areas in the world. Adventure Gold holds quality assets in the Val-d'Or, Qu├ębec and Timmins, Ontario areas and is led by determined management and technical teams with extensive exploration and mine production experience. Adventure Gold is proud to count on highly regarded partners such as Agnico-Eagle Mines, Lake Shore Gold and RT Minerals to explore advanced stage gold properties. The Company owns more than $3.5M in cash and stocks and will continue to aggressively seek new properties in compliance with the corporate strategy. For more information, please contact:
Marco GagnonPresident & CEOmarco@adventure-gold.com450.743.5527
Jules RiopelVice-President Exploration and Acquisitionsjules@adventure-gold.com819.797.9770
http://www.adventure-gold.com/
The forgoing information may contain forward-looking statements and events relating to the future performance of the Company. Forward looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate regulatory authorities. We seek safe harbour.
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.

Visit this company: http://www.adventure-gold.com/



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