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Ryan Gold Finalizes Option Agreement with Castillian Resources

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Ryan Gold Corp. (RYG,V) has amended the terms of its agreement with Castillian Resources Corp. (CT.V) pursuant to which Ryan Gold has been granted the option to acquire a 10% working interest in the option held by Castillian to acquire a 100% interest in the Hope Brook Gold property and associated properties.

In order to acquire its working interest, Ryan Gold is required to incur aggregate exploration expenditures on the property of $2 million by December 31, 2012.

The companies will form a joint venture under which Ryan Gold will have a carried 10% interest until December 31, 2013, following which each company will contribute to further expenditures on the property in proportion to their respective joint venture interests.

RYG went up by 2% to 26 cents but is nearing year low $0.245. CT is also in the green at 4 cents, up 14% but is slightly above year low $0.025.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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