January 31, 2008 Virginia Silver Property Optionor Mega Silver Inc. Completes Major Transaction And Listing
Endurance Gold Corporation (EDG -- TSX.V) is pleased to announce that Mega Silver Inc. (MSR-V) has completed its major transaction and listing, and will commence the planning and implementation of an exploration program on the Virginia Silver Property, located in the Smithers region of northwestern British Columbia. Under the terms of the agreement, dated September 14, 2007, Mega Silver has an option to acquire a 75% interest in the Virginia Silver and surrounding Annie claims (collectively the "Virginia Silver Property"), comprising 10 claims totaling 3,041 hectares. To earn its interest, Mega Silver must make $350,000 in cash payments to Endurance and incur an aggregate of CDN$3.0 million in expenditures (or make commensurate cash payments to Endurance) on or before August 07, 2009. Of those totals, cash payments totaling CDN$100,000 and a minimum of CDN$250,000 in exploration expenditures are required on and by the first anniversary date of the option agreement.
ENDURANCE GOLD CORPORATION
Per: "Duncan McIvor"
President and Chief Executive Officer