TORONTO, ONTARIO–(Marketwired – April 10, 2017) – Anconia Resources Corp. (TSX VENTURE:ARA) (“Anconia“) is pleased to announce that it is exercising its option to obtain a 100% ownership interest in the Grenfell Gold property in Kirkland Lake, Ontario. Anconia holds a 60% interest in this property under an earn in – option agreement executed in 2014. Anconia will issue 5 million common shares to Cadillac Ventures Holdings (“Cadillac“) to acquire the remaining 40% of the property. The shares will be subject to a hold period of 4 months and one day from the date of issuance. Cadillac will retain a 2% net smelter returns royalty on the Property, of which Anconia is entitled to purchase 1% at any time up to 2 years after the commencement of commercial production, for $1,000,000. Closing of this acquisition is subject to TSX Venture Exchange approval.
