Shore/Saskatchewan Royalty Agreement Reached

[Catdaddy]

Shore welcomes Saskatchewan government announcement of diamond royalty
www.digitaljournal.com/pr/47788
Canada NewsWire

SASKATOON, June 2

SASKATOON, June 2 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration & Development, is pleased to report that Shore Gold Inc. welcomes the development of a competitive diamond royalty system in the Province of Saskatchewan. This royalty system has been developed in consultation with the mining industry and is consistent with the parameters already used in the financial model developed during the prefeasibility study for the Star - Orion South Diamond Project. The full release by the Province of Saskatchewan is available at: www.gov.sk.ca/news?newsId=3982b9cb-1ff9-471a-a943-49b77140e23f


Saskatchewan's royalty regime features:

<<
- a one per cent base royalty on the value of mine production, with an
initial five-year holiday;
- a stepped royalty rate on profits to a maximum of 10 per cent once
capital investment is fully recovered; and,
- full-cost recognition including a 100 per cent depreciation rate of
capital costs and a processing allowance.
>>

Senior Vice President Exploration & Development, George Read, states: "We believe the announcement of a competitive royalty system in the mining-friendly jurisdiction of Saskatchewan brings us another step closer to our goal of establishing Saskatchewan's first diamond mine. Shore considers the royalty system fair and compliments the government on the consultative approach that they used to develop the royalty parameters."


Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Exchange under the trading symbol "SGF".


Caution Regarding Forward-Looking Statements


This press release contains forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "believe", "expect", "plan", "intend", "forecast", "target", "project", "guidance", "may", "will", "should", "could", "estimate", "predict" or similar words suggesting future outcomes or language suggesting an outlook. In particular, statements regarding Shore's future operations, future exploration and development activities or other development plans constitute forward-looking statements. Forward-looking information in this press release includes, but is not limited to, the anticipated timing of operation of the proposed project.

All forward-looking statements and information are based on Shore's current beliefs as well as assumptions made by and information currently available to Shore concerning anticipated financial performance, business prospects, strategies, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, developments in world diamond markets, changes in diamond valuations, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of Shore or its joint venture partners, the effects of competition in the markets in which Shore operates, the impact of changes in the laws and regulations regulating mining exploration and development, judicial or regulatory judgments and legal proceedings, operational and infrastructure risks and the additional risks described in Shore's most recently filed Annual Information Form and annual and interim MD&A, and Shore's anticipation of and success in managing the foregoing risks.

Shore cautions that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Shore, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Unless otherwise required by applicable securities legislation, Shore does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Shore or on our behalf.

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Diamond Royalty Regime In Place

www.saskatoonhomepage.ca/local-news/diamond-royalty-regime-in-place.html
Wednesday, 02 June 2010

Saskatchewan based, Shore Gold, has completed a pre feasibility study on a diamond deposit in the province and is in the process of making a production decision.

So, in order to stay ahead of the game, the province has introduced a diamond royalty system.

It was developed in consultation with the mining industry and, according to the province, reflects that input.

The royalty regime features a one percent base royalty on the value of mine production, with an initial 5 year holiday; a stepped royalty rate on profits to a maximum of ten percent once capital investment is fully recovered; and a full cost recognition including a one hundred percent depreciation rate on capital costs and a processing allowance.

Energy and Resources Minister, Bill Boyd says the royalty system ensures we have one of the most competitive diamond royalty regimes in the country.

[enoughalready]

THis came out today as well..connected?

Fortress Financial Group, Inc. -- Company Becomes a Value and Breakup Play Company Confirms Its Pricing Guidelines on the Sale to Be Considerably Increased

Companies:FORTRESS FINANCIAL G Related Quotes
Symbol Price Change
FFGO.PK 0.0001 0.0000

Press Release Source: Fortress Financial Group, Inc. On Wednesday June 2, 2010, 11:01 am EDT
LAS VEGAS, NV--(Marketwire - 06/02/10) - Fortress Financial Group, Inc. (Pinksheets:FFGO - News) can confirm that it expects to finally be in a position to announce further and more final details of the sale of its Gold Interests fairly shortly.

Stockholders are advised that the "pricing guidelines" given at US$0.003 per share of Common Stock were extremely conservative and will now, be substantially higher given the current price of Gold, not to mention the immediate and extremely positive outlook for the price of Gold and the unprecedented demand for quality Gold Properties.

Company Management clearly understands and relates to its stockholders frustrations over what are perceived to be endless delays in the completion of the sale of these assets. However, given the fact that the Purchaser of your Company's Gold Interests is a publicly traded Corporation; this limits the amount of information which your Company's Management is able to release prior to the filing of the final sale Agreement complete with the terms and dates of the Stock Dividends in respect of the distribution of the sale proceeds to our stockholders.

The sale of the Company's Gold Interests is now a "done deal." Final and very necessary steps are being taken to expedite the completion of this transaction. The Company has no problem in the completion of these last steps; the minor delays are being solely caused by the other work commitments of the external Professional Advisors whose completion of their work for our Company is vital to the final conclusion of the sale.

The Company is clearly now a "value and breakup play" and to further add to our stockholders' benefit; the rising price of Gold will substantially increase the value of the sale of the Company's Gold Interests.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will"or "should," "expected," "anticipates," "draft," "eventually," "projected" or "guidelines." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors and other risks identified in filings made by such company with the SEC.

Contact:
Contact:Fortress Financial Group, Inc.Peter J. BezzanoChairmanE Mail: mailto:[e-mail];_ylt=AtWdkRgrjRrQOIVTcKATPHKtcq9_;_ylu=X3oDMTE4YmxoczBkBHBvcwMxBHNlYwNuZXdzUHJDb250YWN 0BHNsawNhZG1pbmZvcnRmaW4-Twitter: twitter.com/FFGOTelephone: [phone]All Investor Related Enquiries:Corporate Communications to Fortress - Global Investor RelationsE Mail: [e-mail] Line: [phone]

finance.yahoo.com/news/Fortress-F....0.html?x=0&.v=1

[brp65432]

Is this the new cmkx company that is involve? And does it mean my shares have more value?

[williamoverture]

Wouldn't it be nice to be a part of a real company. I am so envious!

[Catdaddy]

Jun 2, 2010 18:37:27 GMT -5 @williamoverture said:

Wouldn't it be nice to be a part of a real company. I am so envious!

I guess we'll just have to wait and see won't we?! ;-) Later,
Catdaddy

[hacksawjim]

Jun 2, 2010 18:37:27 GMT -5 @williamoverture said:

Wouldn't it be nice to be a part of a real company. I am so envious!

i would settle for a seriously large conglomerate of resource companies.

hack

[Catdaddy]

Saskatchewan sets royalty rates for diamond mines
www.canada.com/Saskatchewan+sets+royalty+rates+diamond+mines/3104335/story.html

By Jeremy Warren, Saskatoon StarPhoenix June 2, 2010 9:02 PM

SASKATOON — Saskatchewan's emerging diamond industry is shining a bit brighter after the province announced a new royalty regime for mining the precious stone.

There is currently no diamond production in Saskatchewan, but the government anticipates mining companies will eventually take advantage of large deposits found in the northern part of the province.

Shore Gold Inc. aims to establish Saskatchewan's first diamond mine, and the new royalty regime is another milestone that brings production closer, Shore Gold senior vice-president George Read said Wednesday.

"It's very much a royalty regime that promotes the development of the diamond deposits in Saskatchewan," Read said. "It's another milestone crossed. Until today, the province did not have a diamond royalty regime."

The company anticipates a production decision in 2011, which would put Shore Gold on track to build the mine and start commercial production in 2016, Read said.

Shore Gold estimates there is a 35-million karat reserve of diamonds at its Star-Orion South Diamond project near Prince Albert.

The province says establishing a royalty system gives the diamond industry a better financial picture for future projects.


The royalty system would take a one per cent cut of the total annual value of a mine's production, but only after a five-year holiday on royalties that gives companies time to recoup investments.


The lack of royalties for the province during the "holiday" will be offset by the economic expansion surrounding the construction of a new mine, said Energy and Resources public affairs director Bob Ellis.


On top of the one per cent, there is a royalty rate on profits — to a maximum of 10 per cent — that comes into effect once capital investments are fully recovered.


The royalty regime is good for mining companies and good for the province, said Saskatchewan Mining Association executive director Pam Schwann.


"It's a competitive royalty system that allows for profits while sharing those profits with the province," Schwann said.


Energy and Resources employees developed different scenarios to determine how much money the province would make on a diamond mines of different sizes.


Possible annual royalties range from the tens of millions of dollars to hundreds of millions of dollars, according to Energy and Resources estimates.


© Copyright (c) Canwest News Service

[Catdaddy]

Saskatchewan Introduces Diamond Mining Royalty Program
www.diamonds.net/news/NewsItem.aspx?ArticleID=31226

By Avi Krawitz Posted: 06/03/10 04:13

RAPAPORT... Canada’s Saskatchewan province revealed its new royalty program to attract investment in diamond mining.

“We want to ensure any Saskatchewan mines are highly competitive with other mines in Canada and around the world,” said Bill Boyd, Energy and Resources Minister in Saskatchewan. “We believe our royalty system addresses that, and will give us one of the most competitive diamond royalty regimes in the country.”

“Our goal is to ensure Saskatchewan continues to attract exploration spending and potential future development,” he added.

There are currently no operating diamond mines in the province with Shore Gold’s Star Diamond Project, on the Fort à la Corne property, being the most advanced program. According to Shore Gold, the Fort à la Corne area hosts one of the most extensive kimberlite fields in the world, with more than 70 kimberlites discovered there, and over 70 percent of which are said to contain diamonds.

Shore Gold welcomed the development of a “competitive” royalty system in the province adding that it was developed in consultation with the mining segment.

The new royalty regime introduces a 1 percent base royalty on the value of mine production, with an initial five-year holiday; a stepped royalty on profits up to 10 percent once the company’s capital investment is fully recovered; and full-cost recognition, including a 100 percent depreciation rate of capital costs and a processing allowance.

The provincial government noted that the royalty system accounts for the relatively high development costs in the region, striking a balance between providing a positive climate for growth and a fair return to the province.

Boyd said the real benefit of a mine to the region would be the associated economic growth for the province.

“This would be a major undertaking for central Saskatchewan,” he said. “There would be positive impacts for many years in Prince Albert and surrounding area.”


RAPAPORT
Information that means Business

[Catdaddy]

ROYALTY: Saskatchewan sets rates for diamond mines
www.canadianminingjournal.com/issues/story.aspx?btac=ta&aid=1000373554&eid=fd65b6e2-8e1c-4ba7-aea8-d82f30596ad6&stpc=CMJ

SASKATOON - The Government of Saskatchewan has outlined a diamond royalty system for producers in the province. It features a 1% base royalty on the value of mine production, with a five-year holiday. That is followed by a stepped royalty rate on profits to a maximum of 10% once capital investment is fully recovered. Finally, there will be provision for full-cost recognition including a 100% depreciation rate of capital costs and a processing allowance.
The first diamond producer in the province is likely to be Shore Gold of Saskatoon. The company is investigating the Star-Orion South project where a preliminary feasibility study proposes total diamond production of 20 million ct over a 12-year mine life. Shore holds 100% of the Star kimberlite and 63% of the Orion South property. The balance is held by joint venture partner Newmont Mining Corp.
Further information about Saskatchewan's diamond royalty is available at www.Gov.SK.ca/news?newsId=3982b9cb-1ff9-471a-a943-49b77140e23f and from Bob Ellis at Energy and Resources, 306-787-1691 and [e-mail].

[Catdaddy]

DAILY NEWS Jun 9, 2010 5:00 PM - 0 comments
DIAMOND EXPLORATION: Shore Gold, Peregrine results sparkle
www.canadianminingjournal.com/issues/story.aspx?btac=ta&aid=1000374163&eid=f02965ba-a26f-4a65-b3ea-b5e6ba8bae87&stpc=CMJ

SASKATCHEWAN and NUNAVUT - Shore Gold of Saskatoon recently announced that 26% of all the diamonds exceeding 2.7 ct from the Star underground bulk sample are Type IIa diamonds.
Type IIa diamonds are rare, says the company, and account for probably less than 2% of all natural rough diamonds in the world. Only a small number of active mines regularly produce Type IIa diamonds, most notably the Letseng mine in Lesotho.
Type IIa diamonds contain no nitrogen or boron impurities and are frequently either top white colours (D, E, F or G) or any shade of brown. Many pink and brownish-pink diamonds are also Type IIa. Type IIa diamonds usually have anhedral crystal shape and exhibit a range of elongated, distorted or irregular morphologies. Most importantly, many high-value, top colour, large specials (greater than 10.8 carats) are Type IIa diamonds, including all of the 10 largest known rough diamonds recovered, from the 726 carat Jonker to the 3,106 carat Cullinan, according to information provided by Shore Gold (www.ShoreGold.com).
Meanwhile, Vancouver-based Peregrine Diamonds has discovered an additional kimberlite, CH-18, at the Chidliak project on Baffin Island. The discovery was made 16 km northwest of CH-13 and 15 km northeast of CH-12, the closest known kimberlites. Drill intersections at CH-18, which lies under a lake, were interpreted in the field as being both magmatic an pyroclastic in nature.
Peregrine is also taking a 12-t mini-bulk sample from its CH-6 kimberlite. The sample taken in 2009 yielded 4,737 diamonds larger than the 0.075-mm sieve size and included 109 commercial-size diamonds.
A map showing CH-18 and anomaly 291 and a map and diamond results from CH-6 are available at: www.PDiam.com/i/pdf/chidliak471.pdf.