newton gold corp (HR2N) Snapshot

Newton Gold Corp. announced that it has signed a letter of intent with a private company to acquire a 100% undivided interest in the 137 square kilometre Pugu Hills kaolin clay property located approximately 30 km from the capital city of Dar es Salaam, Tanzania. The Pugu Hills property is believed to contain one of the kaolin deposits in Africa with numerous historic, non 43-101 compliant, resources estimating greater than 2 billion metric tonnes of kaolin. The Pugu Hills deposit is made up from a succession of Neogene aged sediments with a combined thickness of 80 to 100 metres. Mining at Pugu Hills started in 1942 with the product being used locally and for brick and tile manufacture. Various companies then mined the resource in different areas until 1994 with both kaolin clay and silica sand being produced. The kaolin clay was sold to rubber and pharmaceutical factories and silica sand was used in glass manufacturing. The open pit quarry on the property currently measures 250 by 140 metres and was exploited to only a depth of 20 metres. This open pit allows for unparalleled access to test the various chemical properties of the deposit and take bulk samples for advanced testing. The deal: Newton has the right to acquire a 100% undivided interest in the Property in two stages with Stage 1 to earn an initial 65% interest and Stage 2 to earn the remaining 35%. The option agreement is subject to Exchange approval; to exercise Stage 1 of the Option, and earn a 65% interest in the Property, Newton shall pay Orion $250,000 and issue 3.5 million shares over an eighteen month period to the vendor with the first share issuance being 500,000 with five days of signing the definitive agreement; to exercise Stage 2 of the Option, to acquire the remaining 35% interest in the Property (for a total of 100%) Newton will pay Orion an additional $125,000 and issue an additional 3.5 million shares to the vendor. Upon the completion of the Option there will be a 3% NSR on the Property that will not have a fixed purchase price.

Newton Gold Corp. announced that it has been granted an extension on the exclusivity on the Sibley Road Property until October 15th, 2013. The Sibley Road property, host to a kaolin clay and silica sand deposit with potential economic products including alumina, titanium, and white silica sand. The property covers 648 hectares and is immediately north of, and contiguous with, the Chaswood property that was acquired by Orbite Aluminae Inc. Highlights of the Sibley Road property are: an advanced stage property with over $12 million in previous exploration with over 400 drill holes and 14 line kilometers of high resolution reflection seismic data; a deposit model with greater than 160 million tonnes (non 43-101 historic resource) created using only 40 % of drill data and without incorporating the seismic data; a majority of drill holes require analyses for alumina, silica and titanium; an environmental scoping study is in place; excellent access and close to existing natural gas pipeline; neighbour is a recognized industry leader in alumina exploration and extraction.

Newton Gold Corp. announced that Tom Kordyback has resigned from the board of directors, effective immediately, citing personal reasons. The company has appointed Yari Nieken a director of the company in place of Mr. Kordyback. Previously, Mr. Nieken was an Investment Advisor with Union Securities and he concurrently serves as Head of Corporate Development for Golden Sun Mining.