Las Vegas, NV - Patriot Gold Corp. (PGOL:OTC) or ("Patriot Gold"), announced today that (Northern Vertex Mining Corporation and Golden Vertex Corporation) ("Northern Vertex") and Patriot Gold have, as part of the arbitration process, appointed Hon. Robert E. Rose (Ret.) as the arbitrator.
Arbitrator selected for dispute with optionee
Justice Rose (Ret.) has served the state of Nevada in all three branches of government. He has been a president of the state senate, Nevada's lieutenant governor, and a Chief Justice of the Supreme Court of Nevada. Since leaving the Supreme Court in January 2007, Justice Rose has conducted mediations and arbitrations in a great variety of cases.
Additional information regarding the scope of the arbitration is set forth in Patriot Gold's Press Release dated January 23, 2015.
The next step in the arbitration process is for the parties and the arbitrator to set a hearing date for the arbitration and schedule for arbitration deadlines.
The Moss Mine Project
Patriot's 100%-owned Moss Mine Project is located approximately seven miles due east of Bullhead City, Arizona. The Moss Mine project is subject to certain royalties and an earn-in option agreement for 70% interest. The earn-in optionee/operator (Northern Vertex Mining Corp.) has the right to earn a 70% interest in the project by completing an $8.5 million investment over five years and a bankable feasibility study.
Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's web site at http://www.sec.gov.