Vancouver, BC, May 27, 2016 -- Roughrider Exploration Limited (TSX-V: REL) ("Roughrider")
-- is pleased to announce, subject to TSX exchange approval, the acquisition of Saskatchewan Mineral Dispositions MC2080, MC2081 and MC2082. These claims are located northeast of the Athabasca basin and together cover 232 hectares within the boundary of the Genesis project in the Johnson-GAP area. The claims are being purchased from an arm's length party in exchange for the issuance of 75,000 common shares of Roughrider, and the creation of a 2% NSR on production from the area covered by the licences. The NSR may be reduced to 1% by the payment of $500,000 within six months of publishing a feasibility study incorporating the area covered by the licences. The shares issued for this acquisition will be subject to a four month hold period expiring September 30th, 2016.
Scott Gibson, CEO explains "We are pleased to be acquiring these claims as they fill in obvious small voids within our Genesis property. Consolidating ownership of a district makes it easier to advance a project when a discovery is made."
Dave Tupper, VP Exploration adds "the airborne geophysics that we have flown indicate some overlapping anomalies that we may choose to follow up in future exploration programs."
Roughrider also reports that it has withdrawn the non-brokered private placement announced April 7, 2016.
About Roughrider Exploration Limited
Roughrider's focus is exploring the Genesis uranium project located in the Wollaston-Mudjatik geological trend extending northeast from Saskatchewan's Athabasca Basin. The acquisition of the recently acquired claims expands the total are of the Genesis property from 200,677 hectares to 200,909 hectares (496,456 acres). Roughrider has the option to earn an 85% interest in Genesis from Kivalliq Energy Corporation.
For further information, please contact:
Chief Executive Officer
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