ARX Gold Corp. Provides Update On Corporate Activities
BRISBANE, Australia, April 16, 2013
BRISBANE, Australia, April 16, 2013 /PRNewswire/ --ARX Gold Corp. (OTCBB:
DUCP) ("ARX " or the "Company"), a gold mining exploration company, is pleased
to provide an update on various corporate initiatives undertaken by the
Name Change to ARX Gold Corp
ARX Gold Corp. has filed required documentation with the State of Nevada to
complete its name change from Daulton Capital Corp. to ARX Gold Corp. to
better reflect its focus on its gold mining and exploration efforts, and has
begun its SEC filings using its new corporate name of ARX Gold Corp.
Costa Rica Gold Project
In December, 2012, the Company announced an agreement to acquire a stake in
the Chassoul Gold Mine in Costa Rica. Subsequently, the company has been
conducting due diligence while negotiating financing to allow the company to
complete the transaction. Due to delays of the other party, the previous
agreement had expired, though the company holds open the possibility that the
other party may complete the transaction as envisaged in the original
agreement, or to allow ARX Gold to purchase a majority stake in the Costa Rica
Gold project directly. While all options are being pursued, there can be no
assurance that the transaction will be concluded.
ARX Gold Springs Project:
The ARX Springs Gold property is located at Coonambula near Eidsvold in
Queensland, Australia, and has gold resources estimated at between 16,000,000
to 18,000,000 (Sixteen to Eighteen Million) ounces of gold and estimated to
generated a cash flow of $22 billion over the planned 20 year life of the mine
based on current gold prices. Queensland, Australia is well known to be a
prolific gold producing State since the 1867 Australian gold rush, several
major gold producing companies including BHP, Glencore Xstrata, Rio Tinto,
Barrick Gold and Anglo American have been active in the State of Queensland
and the area where the ARX Springs gold project is located has an extensive
history of gold finds going back to early 1888 in the nearby St Johns Creek
ARX Gold Corp continues to work diligently on its funding efforts with Mumbai
based Khandwala Securities. In Fact, representatives from Khandwala Securities
are currently touring the ARX Springs site over the last few days in
preparation for anticipated financing. Khandwala Securities is a Mumbai based
Investment bank listed on the Mumbai Stock Exchange, which has successfully
raised capital for its clients for over 70 years. www.kslindia.com.
About ARX Gold Corp
ARX GOLD CORP. (OTCBB: DUCP) is a natural resource company focused on gold and
precious metals. The New Management's corporate philosophy is to be a Share
Holder Value creator, with the objective of exploring, acquiring and operating
Gold projects in Australia and other countries to generate real value
beginning with ARX Springs Gold Project in Queensland, Australia.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements are based on the
current plans and expectations of management and are subject to a number of
uncertainties and risks that could significantly affect the company's current
plans and expectations, as well as future results of operations and financial
condition. A more extensive listing of risks and factors that may affect the
company's business prospects and cause actual results to differ materially
from those described in the forward-looking statements can be found in the
reports and other documents filed by the company with the Securities and
Exchange Commission. The company undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Chief Executive Officer,
ARX Gold Corp.
SOURCE ARX Gold Corp.
Press spacebar to pause and continue. Press esc to stop.