Hecla/Great Basin Gold Modify Hollister Earn-in Agreement

摘要

COEUR D'ALENE, ID -Hecla Mining Company and Great Basin Gold Ltd.have modified the 2002 Earn-in Agreement to the Hollister Development Block (HDB) gold exploration project in Nevada and consequently the parties have agreed to dismiss all litigation immediately. Hecla Mining Company President and Chief Executive Officer Phillips S. Baker, Jr., said, "Great Basin Gold and Hecla have modified the Earn-in Agreement to reflect changing conditions at the Project, and markets in general, primarily by revising certain deadlines or milestones in the original Earn-in Agreement and funding commitments by Hecla. We're more optimistic than ever that this Project can be very successful and profitable for both of us. The underground exploration drift has intersected the vein structures, underground drilling platforms have been constructed and the drill rigs are now turning. The drill holes will be short, closely spaced holes, less than 700 feet in length, aimed at upgrading the resource previously identified by Great Basin Gold and converting it to reserve."