Montreal, Quebec -Golden Tag Resources Ltd. (TSX-V:GOG) has today given a formal notice to ECU Silver Mining Inc. (“ECU”) demanding arbitration consequent upon having determined that ECU, the operator of their San Diego joint venture has failed to remedy fundamental breaches of the option and joint venture agreement (the”JVA”), signed on November 2, 2005 in respect of the San Diego property. The silver zinc rich property is located in the Velardena Mining District, Municipality of Cuencame, Durango State, Mexico (the “Property”). Golden Tag’s counsel in a letter dated March 20, 2009 notified ECU of these breaches and Golden Tag subsequently received assurances that the breaches would be rectified within the requested 30 day period. Despite several follow-ups, the breaches have not been remedied. Golden Tag is fully vested in a 50% Property interest under the JVA.
For additional information, please contact:
Golden Tag Resources Ltd.
Marc A. Carrier, President & CFO
Ph: (514) 426-8542
Fax: (514) 426-8543
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