Vancouver, British Columbia--(Newsfile Corp. - February 27, 2017) - Discovery Harbour Resources Corp. (TSXV: DHR) ("DHR" or the "Company") is pleased to announce that it has reached an agreement with Genesis Gold Corporation ("GGC") to extend the term of the Exploration License and Option To Purchase Agreement (the "Agreement or Option") to acquire a 100% interest in two gold projects in the State of Nevada, USA (the "Projects / Project or Properties / Property").
As was set forth in the original Agreement, DHR was allowed ninety days from November 18, 2016, during which it was to raise capital for exploration of the Caldera and Jersey Valley gold projects. The ninety day anniversary of the signing (February 18, 2017) also required the Company to pay the second Advance Royalty payment of US$15,000.00. On February 17, 2017, the Company entered a three month extension Agreement with GGC for the purpose of funding these projects and to extend the date of the second royalty payment to May 18, 2017. The remaining terms of the original Exploration License and Option To Purchase Agreement, announced in a press release dated November 23, 2016 and may be viewed on SEDAR at: http://www.sedar.com/, remain unchanged.
DHR continues to search for available funding sources and the scope of DHR's 2017 exploration program are subject to the Company's ability to raise additional capital.
Michael J. Senn, a licensed professional geologist, is the Qualified Person for DHR as described in National Instrument 43-101 and has reviewed and approved the technical contents of this release.
