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Client Work

Riva Gold enters into option agreements for acquisition of properties in Guyana for US$2.1 million

Fasken
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Overview

Client

Riva Gold Corporation

On November 29, 2010, Riva Gold Corporation (TSX-V: RIV) announced that it had entered into two agreements (through one of its subsidiaries) with the Pereira Group giving Riva the option to acquire the rights to two groups of mineral properties in Guyana, the Nine Mile Properties and Honey Camp Properties. Either option may be exercised independently from the other option. In order to exercise both options, over a period of three years, Riva must pay the Pereira Group a cumulative total of US$2,100,000 in cash and issue a cumulative total of 1,000,000 common shares of Riva in conjunction with certain work expenditure commitments, with the right to accelerate at any time. Riva Gold was advised in this transaction by Johanna Fipke, Josh Lewis and Steve Saville of Fasken Martineau.

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